It is not from the benevolence of the butcher, the brewer, or the baker, that we expect our dinner, but from their regard to their own interest.
Adam Smith - An Inquiry into the Nature and Causes of the Wealth of Nation (1776)
Wednesday, October 21, 2009
Adam Smith and Self Interest
Adam Smith - An Inquiry into the Nature and Causes of the Wealth of Nation (1776)
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This one is a favorite because it is commentary on the basis of economics. That self interest promotes wealth growth. This was the thought process that led to Adam Smith's Invisible Hand analogy that thousands of peoples individual actions in their own self interest prosper the society as a whole, as if led by an invisible hand.
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