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Self Interest

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Political Science
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Virginia University of Lynchburg
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Running head: SELF-INTEREST 1
Self-Interest
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SELF-INTEREST 2
Self-Interest
Adam smith, in his book titled “The Wealth of Nations,” discusses how self-interest of
individuals can be beneficial to the entire society. According to Adam Smith, “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”. Therefore, this paper explains how one’s own self-interest
consideration may lead to mutual benefit in the society provided individuals are ready to pursue
their self-interest.
Smith 2016, analyses how self-interest and rational self-interest is effective to the
economy. He found that economic activity was so much motivated powerfully by self-interest
and rational self-interest. In explanation of this, he came up with a theory that was based on the
Invisible Hand Theory that indicates that, when individuals make economic decisions are made
in a free market basing them on their self-interest it shows unintended and gives the economy
positive benefits.
Self-interest entails individual’s actions that lead to personal benefit. According to Adam
Smith, economic benefit can best be accomplished when people act according to their self-
interest. When people are faced with behavioral decisions that are known to affect their well-
being and personal income, they act in a rational way economically. Self-interest involves
behaviors and actions of an individual that positively benefit the person (Smith, 2016).
Individuals may own the available resources using decisions that they make in their self-interest
that help in achieving the greatest benefit.

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1 Running head: SELF-INTEREST Self-Interest Name Institution Course Date 2 SELF-INTEREST Self-Interest Adam smith, in his book titled “The Wealth of Nations,” discusses how self-interest of individuals can be beneficial to the entire society. According to Adam Smith, “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”. Therefore, this paper explains how one’s own self-interest consideration may lead to mutual benefit in the society provided individuals are ready to pursue their self-interest. Smith 2016, analyses how self-interest and rational self-interest is effective to the economy. He found that economic activity was so much motivated powerfully by self-interest and rational self-interest. In explanation of this, he came up with a theory that was based on the Invisible Hand Theory that indicates that, when individuals make economic decisions are made in a free market basing them on their self-interest it shows unintended and gives the economy positive benefits. Self-interest entails individual’s actions that lead to personal benefit. According to Adam Smith, economic benefit can best be accomplished when people act according to their selfinterest. When people are faced with behavioral decisions that are known to affect their wellbeing and personal income, they act in a rational way economically. Self-interest involves behaviors and actions of an individual ...
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