You have just read about one of the great economists of all time, Adam Smith. In his famous publication The Wealth of Nations, Smith makes the following statement: "It is not from the benevolence of the butcher, the brewer, or the baker that we expect our dinner, but from their regard to their own interest."
In one well-developed paragraph, explain this statement from an economist’s perspective.
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According to Adam Smith, human activities and interactions are dictated by peoples' individualism and self interest. A persons expected benefits from serving another person is the foundation of human interactions and pursuance of economic activities. This is the background driving force of capitalism in a society. It is the perceived and known self gains and not the act of being "humane" that drives people to do want they do to satisfy other peoples' needs. In simple language, humans are driven to do what they do by their "selfish" needs and not their charitable hunger to humanely help others.
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Sep 30th, 2015
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