Adam Smith in his Wealth of Nations stated, "By pursuing his own interest he frequently promotes that of the society more effectually than when he really intended to promote it." What behavior does this notion attempt to justify?
A) Collectivism
B) Loyalty
C) Greed
D) Competitiveness
E) Cooperation

Question

Quizplus · Accepted Answer

Adam Smith in his The Wealth of Nations wrote one of the most important sentences in the English language: "By pursuing his own interests he frequently promotes that of the society more effectually than when he really intended to promote it." This "invisible hand" notion justifies competitive behavior because it improves society and its organizations.

Adam Smith in His Wealth of Nations Stated, "By Pursuing