In Polanyi's book, The Great Transformation, he states, "While laissez-faire economy was the product of deliberate state action, subsequent restrictions on laissez-faire started in a spontaneous way. ... Mill explains that all societies have different needs and expectations of their government. ... When discussing Adam Smith, it is clear to note that the role of the government is very limited and only needed with completely necessary. ...

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• Approx Pages: 6
• Grade Level: Undergraduate