the word "capitalism." emerged in the 19th century, to describe the economic system that Smith’s ideas in The Wealth of Nations (1776) helped shape. Smith used terms like "commercial society" or "system of natural liberty" to describe a market-driven economy where individuals pursue self-interest under minimal government interference, which aligns with what we now call capitalism.
Okay, thank you for some google searches. When you said “minimal government interference” is that free markets?
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What i took from smiths description of free market is private ownership. LIMITED government was a prerequisite for him.
You are right, but did you see what he warned about with capitalism and “limited” government. But, we cannot ignore that limited is not free.
