Adam Smith believed that an economic system couldn't truly prosper unless people were taught to value the welfare of others above their own personal gain.
Level of Learning 2: Understanding of concepts and principles

Question

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Adam Smith believed in the concept of the "invisible hand," where individuals pursuing their own self-interest can lead to positive outcomes for society as a whole, rather than prioritizing the welfare of others above personal gain.

Adam Smith Believed That an Economic System Couldn't Truly Prosper