Adam Smith coined the phrase "It is not from the benevolence of the butcher that we expect our dinner."
Adam Smith
Adam Smith coined the phrase "It is not from the benevolence of the butcher that we expect our dinner."
The phrase emphasizes the importance of market forces and individual motivation in driving economic activity. It underscores the idea that people engage in trade and commerce not out of kindness but to fulfill their own needs and desires.
Remember this
Understanding Smith's concept of the "invisible hand" is crucial for grasping the fundamental principles of modern economics and the role of self-interest in market dynamics.
Text adapted from Wikipedia, licensed under CC BY-SA 4.0.
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