Quote:
Originally Posted by Miltamec Soundsquinaez
From Economics for Dummies:
'He believed in invisible hand yada yada...............But Smith was not naive. He believed that businnessmen prefer to collude rather than compete whenever possible, and that governments have a very important economic role to play in fostering the robust competition needed for the invisible hand to work its magic. He also believed that governments must provide essential public goods, like national defense, that aren't readily produced by the private sector.'
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I was hoping you'd cite the Wealth of Nations or something he actually wrote. Again, I've seen nothing aside from your book for dummies that says that.