subject
History, 13.08.2020 01:01 teacherpreacher

In the following statement, Adam Smith comments on the individual who uses domestic industry and labor. Use Smith's statement to answer the question below: "...he intends only his own security... he intends only his own gain, and he is in this, as in many other cases, led by an invisible hand to promote an end which was no part of his intention... By pursuing his own interest he frequently promotes that of the society more effectually than when he really intends to promote it." Source: An Inquiry into the Nature and Causes of the Wealth of Nations How does Smith's view of the economy expressed in this excerpt compare to Owen's? Both believe that individuals acting in their own self-interest will lead to economic equality. Both believe that individuals acting in their own self-interest will lead to economic inequality. Smith believes that individuals acting in their own self-interest will lead to the maximum social benefit, while Owens does not. Owens believes that individuals acting in their own self-interest will lead to the maximum social benefit, while Smith does not.

ansver
Answers: 3

Another question on History

question
History, 22.06.2019 02:30
What does the second video tell you about life in the united states compared to life in russia?
Answers: 1
question
History, 22.06.2019 04:00
Why is the sons of liberty a difficult group to describe ?
Answers: 2
question
History, 22.06.2019 04:00
45 were the 1920s a “return to normalcy” or a “time of great change”? submit it in a letter format.
Answers: 1
question
History, 22.06.2019 09:30
What mountains did the first transcontinental railroad cross
Answers: 1
You know the right answer?
In the following statement, Adam Smith comments on the individual who uses domestic industry and lab...
Questions
Questions on the website: 13722363