1. How does Adam Smith defend free markets on utilitarian grounds?2. List the features that characterize a perfect competitive market.3. What is a perfectly competitive market? Perfectly competitive markets establish capitalist justice and maximize utility in a way that respects buyers' and sellers' negative rights?Explain how and what types of negative rights are respected.

One development inside utilitarian reasoning summons the practice of Adam Smith, guaranteeing that…

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1. How does Adam Smith defend free markets on utilitarian grounds?
2. List the features that characterize a perfect competitive market.
3. What is a perfectly competitive market? Perfectly competitive markets establish capitalist justice and maximize utility in a way that respects buyers' and sellers' negative rights?
Explain how and what types of negative rights are respected.

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