The Founding Fathers agreed with Adam Smith that the greatest threat to economic prosperity is the arbitrary intervention of the government into the economic affairs of private business and the buying public. Historically, this has usually involved fixing wages, controlling production, controlling distribution or subsidizing certain products.
Adam Smith’s Free Market formula called for the following:
Specialized production – let each person or corporation of persons do what they do best.
Exchange of goods takes place in a free-market environment without the governmental interference in production, prices, or wages.
The free-market provides the needs of the people on the basis of supply and demand, with no government imposed monopolies.