Adam Smith theories promote individualism in the sense that they state that, when each economic agent (households, business, or public entities) pursue their own interests selfishly, the outcomes generated by their economic activities will optimize the social welfare.
The incentives behind working for the own profit are much higher, and make individuals more productive and more sensitive to mistakes, therefore they are keen on improving their practices constantly. In turn, the incentives of working for the common interest are more vague, and such situations lead to sharp productivity declines. It is more likely that societies with greater productivity are able to produce efficiently enough goods and services to cover the needs of all its citizens. Therefore those societies end up maximizing the social welfare. These are the main arguments which support the invisible hand principle coined by Adam Smith.
How quickly supply can be met, how much of the resource there is in existance, and how quickly the resource produces itself.
This example highlights the role of "uncontrollability"<span> in coping.
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The state of mind towards data concerning the distressing occasion is thought to be the essential property of the individual adapting style. Of the situational factors, controllability is viewed as a variable of unique significance for adapting conduct, in light of the fact that in controllable circumstances data handling concerning the stressor is versatile, while in wild circumstances it has a little esteem.
Since there was a lack in food, jobs, and other necessary things needed to survive during the depression period, Americans had to get as much as they needed. However, they also despised the fact that African Americans, who they did not consider as Americans, would also have to fight for those basic needs. Discriminative Americans then saw them not as Americans and rationalized that African Americans should not partake in the basic necessities. This kind of rationale caused a lot of discrimination during the depression.
