According to Adam Smith, the government should only intervene in society for what THREE REASONS? U may use the internet to look this question up, and get ur answer, and ur explanation.

History · Middle School · Tue Nov 03 2020

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Adam Smith, often considered the father of modern economics, outlined his views on government intervention in society in his seminal work "The Wealth of Nations." While he acknowledged a role for government, he emphasized three main reasons for intervention:


1. Defense and National Security:

  - Smith argued that the government should play a crucial role in providing for the defense and security of the nation. This includes maintaining a military to protect against external threats, ensuring law and order domestically, and safeguarding citizens from violence and invasion.


2. Justice and Law Enforcement:

  - Another key role Smith identified for government is maintaining justice and enforcing the rule of law. This involves the establishment of a legal system to protect property rights, ensure contracts are honored, and adjudicate disputes. Law enforcement is seen as a necessary function to prevent fraud, theft, and violence within society.


3. Infrastructure and Public Goods:

  - Smith recognized the importance of public infrastructure and certain public goods that may not be efficiently provided by the private sector. This includes the construction of roads, bridges, and other infrastructure that benefits society as a whole. Additionally, he highlighted the need for public education, which he saw as contributing to the overall well-being and productivity of the populace.


In summary, according to Adam Smith, government intervention is justified for defense and national security, justice and law enforcement, and the provision of certain public goods and infrastructure. Smith's ideas laid the groundwork for classical liberal economic thought and the belief in limited government intervention in the economy.