Asked by Danyelle Nicole on Sep 26, 2024

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According to Adam Smith, the public interest was served by individuals pursuing their own self-interests.

Adam Smith

An 18th-century Scottish economist and philosopher, best known for his theories on free market economies and the concept of "the invisible hand."

Public Interest

The welfare or well-being of the general public and society as a whole.

  • Acquire knowledge of the link between ethical operations in business, economic gains, and obligations to society.
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AJ
Amrit Jaswal1 day ago
Final Answer :
True
Explanation :
Adam Smith famously argued in his book "The Wealth of Nations" that when individuals are free to pursue their own self-interests, the resulting competition and innovation benefits society as a whole, leading to economic growth and prosperity. This idea is often referred to as the "invisible hand" of the market, whereby the pursuit of self-interest by individuals ultimately benefits the public interest.