Topic > Ideology in Government - 1475

According to Michael G. Roskin, Adam Smith theory is the root of ideologies. “The Theory of Moral Sentiment,” which was one of the classics of Smith's work. Smith that government should stay out of the economy. Smith suggested that governments of all nations should practice a lazier tariff market. But without the presence of government in the economy, the nation's economy would not go crazy because it has no leader to control it. Smith emphasized that the presence of government is not necessary in the economy, because the economy will control itself. Smith argued that the product made should not depend on the government, but depend on the nation's population, which will usher in a new completion by all other producers. Smith uses the word “invisible hand” which can mean many things. Michael G. Roskin describes the “invisible hand” as someone who pursues his own self-interest in the free market. Smith likes the idea of ​​having an "invisible hand" in the free market, Smith added that having "an invisible hand" in the free market will benefit the national economy, because it will provide the completion of production, which will reduce the price of goods for the population, obtaining good quality