Although the principles of laissez-faire are associated with Adam Smith-the Scottish economist and founder of the classical school of economics-and with his book Wealth of Nations, published in 1776, where were the principles developed?

What was Adam Smith's argument for why capitalism is beneficial to society?

a) Under capitalism, every person is able to maintain an income that provides basic necessities. b) Under capitalism, people are forced to give to charity. c) Under capitalism, people put the needs of society first. d) Under capitalism, people's selfish acts contribute to the common good

Explain the recent controversy over Social Security. What are the major problems facing Social Security? What are the current politics behind the issue? If Social Security needs to be fixed, what is the best way to reform it? If Social Security does not need to be fixed, why do you believe this is the case?

What will be an ideal response?