Question

Use the following quote from Adam Smith to answer the question below:

"It is not from the benevolence of the butcher, the brewer, or the baker that we expect our dinner, but from their regard to their own interest."

Source: Adam Smith, An Inquiry into the Nature and Causes of the Wealth of Nations

Which of the following systems believes that the role of the government is only to promote competition and provide public goods?

Capitalism

Socialism

Communism

Laissez-faire

Answer 1

@DollyAcquah

Answer 2

I think it's Socialism.
"The term "socialism" was created by Henri de Saint-Simon, a founder of utopian socialism. The term "socialism" was created to contrast against the liberal doctrine of "individualism".[93] The original socialists condemned liberal individualism as failing to address social concerns of poverty, social oppression, and gross inequality of wealth.[93] They viewed liberal individualism as degenerating society into supporting selfish egoism and that harmed community life through promoting a society based on competition.[93] They presented socialism as an alternative to liberal individualism, that advocated a society based on cooperation.[93]"
Source: http://en.wikipedia.org/wiki/Socialism

Answer 3

thanks for the Medal :D