Investopedia explains 'Adam Smith'
Smith is famously quoted as saying in his 1776 magnum opus, An Inquiry into the Nature and Causes of the Wealth of Nations, "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 self-interest." Smith's ideas form the foundation of laissez-faire economics.
|
