Pick any one person and give examples of their activities

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To Adam Smith, individuals interacting through the marketplace promote general economic well-being even if guided only by their self-interest, as if an 'invisible hand' was guiding them. (Note that he did not say that people should necessarily be 'selfish'. He said that even if they are, their actions in the economy - as long as they play by the 'rules' - indirectly help others).

a. Pick any one person and give examples of their activities that are in line with Smith's conclusion.

b. Do YOU generally agree with Smith's conclusion? Why or why not?

Reference no: EM132587822

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