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The expression "there is no such thing as a free lunch" is an expression coined by Milton Freedman dating from the 1970s, much later than Adam Smith, who lived in the 18th century. The expression basically means that nothing is free (if you are given something for free, it means that someone else is paying for it, like a gift. It's not actually free.)
There is a saying in modern finance that says "the only free lunch is diversification".
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Who is the father of economic?
Father of Economics is Adam Smith
What type of economic system did Adam smith provide?
Adam Smith was well into his beliefs that a free economy was the best economic system.
Who was the father of economic?
ADAM SMITH is generally regarded as the father of economics.
Do you think Adam Smith supported industrialization why or why not?
Adam Smith supported industrialization because he believed in a free economy, to guarantee economic progress.
What economic system did Adam smith follow?
Free market Capitalism
Merits of Adam Smith definition?
merits of defination of economic given by adam smith
Who is the father of economic?
Father of Economics is Adam Smith
What type of economic system did Adam smith provide?
Adam Smith was well into his beliefs that a free economy was the best economic system.
Who was the father of economic?
ADAM SMITH is generally regarded as the father of economics.
Who is father of economic?
adam smith is the father of Economics.
Do you think Adam Smith supported industrialization why or why not?
Adam Smith supported industrialization because he believed in a free economy, to guarantee economic progress.
What economic idea did the us adopt from Adam smith?
Laissez-faire
What economic system did Adam smith follow?
Free market Capitalism
What did Adam smith mean by laissez faire?
Adam believed that the state should not interfere in economic matters
In his economic system Adam Smith believed that the basic economic question should be answered by whom?
Market
Who was the great exponent of economic and social determinism?
Karl Marx
Adam smith provided a philosophy for this type of economic system?
free market
