According to Adam Smith, individual self-interest
A) is a powerful force for economic progress when it is directed by competitive markets.
B) is a powerful force for economic progress when individuals are wisely directed by a strong central government.
C) is a major factor in retarding the economic progress of humankind.
D) could be either a positive or negative force for economic progress, depending on the moral influences of political leaders.

Question

Quizplus · Accepted Answer

Adam Smith argued that individual self-interest, when directed by competitive markets, acts as an "invisible hand" that leads to economic progress and benefits society as a whole.

According to Adam Smith, Individual Self-Interest