According to Adam Smith and other classical economists, why is the economic theory supporting market economies (or capitalism) much more realistic than theories supporting command economies

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23-04-2015
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According to Adam Smith and other classical economists, why is the economic theory supporting market economies (or capitalism) much more realistic than theories supporting command economies

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HistoryGuy HistoryGuy · Answer 1 · 2015-04-23T10:58:37-04:00

HistoryGuy HistoryGuy

23-04-2015

According to Adam Smith and other classical economists, the economic theory supporting market economies makes far more sense because only people can truly decide what they want and will therefore purchase. The government can't possible guess accurately.

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