Adam Smith believed that people's pursuit of their own self-interests

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Adam Smith believed that individuals pursuing their own self-interests in a competitive market would result in goods and services being produced at the lowest possible cost, leading to increased efficiency and output. This, in turn, would generally promote the general welfare of society. Smith believed that government intervention in the economy should be limited, and that the economy would operate best without government interference.

Adam Smith Believed That People's Pursuit of Their Own Self-Interests