According to smith, what is the primary economic motivation for most people?

Adam Smith is considered the father of Economics. He wrote a book, called "Wealth of Nations" and in it, explained his Theory of Economic Development. He believed in free trade (natural trade without tariffs or restrictions) and Laissez-Faire (the state should not impose restrictions on the freedom of an individual) economics.

He stated that all human beings were motivated by self-interest. this theory was also to be applied to economic interest. He also believed that self-interest and competition was good for the economy and each other.

the federalist party which advocated strong centralization dominated the united states government till 1800. so 1800 election transformed the power from one party to another party for the first time and was thus a turning point in american history. so jefferson called it "revolution of 1800".

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