Adam Smith argues that if persons pursue their own interests through the market, the result will be that the interests of society are promoted more effectively than if governments actively try to do so.

Question

Quizplus · Accepted Answer

Adam Smith, in his seminal work "The Wealth of Nations," argues that individuals pursuing their own self-interest in a free market economy, through the mechanism he describes as the "invisible hand," inadvertently contribute to the economic welfare of society more effectively than if their actions were directly orchestrated by government policies.

Adam Smith Argues That If Persons Pursue Their Own Interests