Final answer:
Adam Smith, a philosopher and economist, argued for a free market with little government involvement. He believed government regulation would harm consumers and that competition among producers would lead to a healthy economy.
Step-by-step explanation:
Adam Smith, the eighteenth-century philosopher and economist, argued that a free market would regulate itself with little government involvement. In his book The Wealth of Nations, Smith advocated for a hands-off approach to the economy known as laissez-faire economics. He believed that competition among producers and the influence of the market would lead to a healthy economy, and that government regulation would harm consumers by keeping prices artificially high. Smith's ideas have shaped the concept of capitalism and the role of government in the economy.