Question

In the Wealth of Nations, Adam Smith said, 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. What do you think he meant?

Answer 1

Adam Smith's statement in The Wealth of Nations means that individuals involved in various trades and industries are motivated by their own self-interest, rather than by benevolence, in providing goods and services.

Step-by-step explanation:

Adam Smith's statement in The Wealth of Nations means that individuals involved in various trades and industries are motivated by their own self-interest, rather than by benevolence, in providing goods and services.

In other words, it is not the goodwill or kindness of butchers, brewers, or bakers that ensures we have food on our tables, but their desire to earn a profit by meeting the demands of consumers.

This concept reflects Smith's belief in the importance of free markets and competition in driving economic growth and prosperity.