Question

Read the quotation by ayn rand. both adam smith and ayn rand would agree that individuals and businesses want what benefits them the most. society benefits when people want what is best for everyone. individuals become wealthy because of actions by the government. society benefits when individuals agree to sacrifice to help others.

Answer 1

In The Wealth of Nations, Adam Smith argued that self-interested individuals contribute to the overall benefit of society, also known as the concept of the 'invisible hand.'

Step-by-step explanation:

Adam Smith developed his argument in The Wealth of Nations using different levels of analysis.

First, he focused on the individual level and argued that self-interested individuals tend to make decisions that will maximize results to their own benefit.

Smith advocated for governments guaranteeing individuals the freedom to produce and trade as they please.

This belief is summarized in the concept of the 'invisible hand,' which refers to the idea that individuals pursuing their own self-interest inadvertently contribute to the overall benefit of society.