Who gave the principle of non-interference?

The correct answer is Adam Smith.

Key Points

• Adam Smith promoted the principle of non-interference, which is also known as laissez-faire economics.
• According to this principle people are left to make their own decisions with the least amount of government intervention and with the belief that the invisible hand is at work.
• Smith supported less regulation and a capitalist society.
• He proposed the idea of an invisible hand—the tendency of free markets to regulate themselves by means of competition, supply and demand, and self-interest.

Additional Information

• Basic Principles of a Laissez-faire Economy
  • The individual is the basic unit in society, i.e., the standard of measurement in social calculus.
  • The individual enjoys a natural right to freedom.
  • The physical  order of nature is a harmonious and self-regulating system.
• The basic purpose of the non-interference economy is to promote a free and competitive market that demands the restoration of the order and natural state of liberty that humans emerged from.
• A laissez-faire economy is thus characterized by the free movement of forces of supply and demand, free from any form of intervention by a government, a price-setting monopoly, or any other authority.