The doctrine of the natural identity of interests:
A)was first introduced by F. Y. Edgeworth.
B)says that selfish behaviour can never improve society's welfare.
C)is also known as the visible hand theory.
D)was first proposed by Adam Smith in "The Wealth of Nations."

Question

Quizplus · Accepted Answer

Adam Smith, in his seminal work "The Wealth of Nations," introduced the concept that individuals pursuing their own interests would naturally benefit society as a whole, a principle often encapsulated in the metaphor of the "invisible hand." This contrasts with the visible hand theory or the specific views attributed to F. Y. Edgeworth regarding selfish behavior and societal welfare.

The Doctrine of the Natural Identity of Interests