An insight first fully developed by Adam Smith is that
A)without benevolence production would not occur.
B)all individuals are motivated solely by self-interest.
C)self-interest,not benevolence,is the foundation of economic order.
D)self-interest undermines effective economic order.
E)individual self-interest is the only necessary force for social order.

Question

Quizplus · Accepted Answer

Adam Smith is known for his theory of the "invisible hand," which suggests that individual pursuit of self-interest in a free market economy leads to the creation of economic order and efficiency. In other words, self-interest, not benevolence, is the foundation of economic order according to Smith.

An Insight First Fully Developed by Adam Smith Is That