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notka56 [123]
4 years ago
6

According to adam smith, how does self interest benefit society?

Biology
2 answers:
umka2103 [35]4 years ago
8 0
Self interest is the key principle that provides for the economic theory of supply and demand. Without self interest free market would struggle to regulate itself
Citrus2011 [14]4 years ago
3 0

Answer:

Self interest causes the growth of economy which in turn causes the betterment of society.

Explanation:

According to economist Adam Smith, self-interest is the key motivator behind any economic activity. For example – we all go to office to work in order to earn money and feed our family. This act can be considered as self-interest but eventually the work which is being done is aimed at serving some economy. As the economy grows, the society also gets benefited.  

Hence, in lieu to the self-interest if an individual works day and night then eventually he/she ends up adding something to the economy which in turn benefits the society.  

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