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Adam Smith

Adam Smith. Economic Philosopher. argued that self-interest motivates economic activity “Father of Economics.” He also can be considered the father of capitalism.

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Adam Smith

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  1. Adam Smith Economic Philosopher

  2. argued that self-interest motivates economic activity • “Father of Economics.” • He also can be considered the father of capitalism. • In his book Wealth of Nations Smith advocated more individual freedom, more economic freedom, freer trade, and less government control. • Laissez-Faire idea. • Smith wanted limited government—a government that would protect people from violence, injustice, and oppression, and also erect and maintain public works. Adam Smith

  3. Greed is Good • “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.” • Gekko argues that greed is good, greed is right, and greed is responsible for the upward march of humankind. Greed is good for business and for the United States. • “Is self-interest the same thing as greed? Was Gordon Gekko right?” Adam Smith

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