Questions: What did Adam Smith believe about self-interest? It drives the economy and ultimately works for the greater good.

The answer is: It drives the economy and ultimately works for the greater good.

Adam Smith did not believe that self-interest was immoral or that it should be discouraged. In fact, he argued that self-interest is a natural human trait that can lead to positive economic outcomes when properly channeled within a free-market system.

Adam Smith is best known for his concept of the "invisible hand," which suggests that individuals pursuing their own self-interest can unintentionally contribute to the overall good of society. In his seminal work, "The Wealth of Nations," Smith argued that when individuals seek to maximize their own gain, they inadvertently promote the economic well-being of society as a whole. This is because their pursuit of profit leads to the production of goods and services that others value, thereby driving economic growth and efficiency.

While Adam Smith acknowledged that competition could have negative effects in certain contexts, he generally viewed competition as a positive force in the economy. He believed that competition encourages innovation, efficiency, and the production of better goods and services, ultimately benefiting consumers and society. Therefore, he did not see self-interest as harmful to the economy in this regard.