Investopedia / Michela Buttignol Self-interest refers to actions that elicit personal benefit. Adam Smith, the father of modern economics, explains that the best economic benefit for all can ...

We’d include that it’s in the self-interest of companies to build wealth with the employees who help create it by serving customers. In Adam Smith’s time, most economic activities were ...

Adam Smith referred to the natural forces that guided self-interest to fulfill people's and society's needs on its own, without government intervention, as the invisible hand. Free-market ...

The invisible hand is a concept that was coined by economist Adam Smith to illustrate hidden economic forces. The invisible hand is a metaphor that describes the unseen forces of self-interest ...

Adam Smith is often considered to be the father ... the invisible hand, self-interest, the division of labor, free markets, and free trade.1 Yet Smith was also a moral philosopher.

As Viner wrote in his essay “ADAM SMITH AND LAISSEZ FAIRE,” Smith saw a “wide and elastic range of activity for government,” believing that “self-interest and competition were sometimes ...

Adam Smith's writings influence economics today as he believed wealth is created via labor, and self-interest spurs people to use their resources to earn money. Smith's theories that economies ...

On the occasion of his 300th birthday, Adam Smith—the Scottish Enlightenment ... people acting in politics using their self-interest in a similar way that they would with markets.

Daniel Klein Adam Smith may fairly claim to be the ... but from a want of the proper attention to the objects of self-interest. [From Smith's The Theory of Moral Sentiments] Far from making ...