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.

Adam Smith’s Wealth of Nations understood in the context of his Theory of Moral Sentiments brings us to an insight.

Individuals act on enlightened self-interest. Their actions have have unintended consequences that benefit society as a whole.

Self-Interest is not synonymous with Selfishness.

Give people freedom, to follow their dreams. Innate goodness drives people to make the world a better place or follow their passions, which makes the world a better place.

Therefore, the works of Adam Smith are not a canonical dogma for free-market capitalism or laissez-faire. Instead, Adam Smith is more subtle and deeper. Smith’s insights into how individual action facilitate economic growth and develop are derived from objective observation and the moral philosophy of the Scottish enlightenment. Smith’s objective was to answer the question: ‘How can we make the world a better place?’

If you want to know more about what Adam Smith actually wrote, download his book Wealth of Nations here for free:

Wealth Of Nations by Adam Smith