Title: About the Wealth of Nations and Its Enlightenment to China's Market-government Relationship
Abstract: Adam Smith have analysed the princles of how market economy runs in the Wealth of Nations. This paper concludes that Smith stressed heavily on the functions of market's self-adjustment, and the core points of market economy mechanism are selfishness and competition. In the intervention process, the government must guarantee a free and fully competitive market, only by doing this, an efficient outcome will be achieved.
Publication Year: 2006
Publication Date: 2006-01-01
Language: en
Type: article
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