Which of these ideas was first advanced by Adam Smith?
A)Human beings are fundamentally moral.
B)Self-interest can produce social benefits.
C)Governments have a role in preserving traditions.
D)The government is inherently hostile to individual rights.

Question

Quizplus · Accepted Answer

Adam Smith first advanced the idea that self-interest, when allowed to operate freely in a competitive market, can produce social benefits. This is one of the main ideas in his influential work "The Wealth of Nations." Smith argued that individuals acting in their own self-interest would naturally lead to production and exchange of goods and services that would benefit society as a whole.

Which of These Ideas Was First Advanced by Adam Smith