Competing with Smith, Means Everyone Wins
" I see trees of green, red roses too, I see them bloom, for me and you, And I think to myself what a wonderful world. This excerpt from a popular song by Louis Armstrong describes an environment of organic beauty. In which, surrounded by the simplistic splendor of nature, Armstrong sees a "wonderful world . For as long as history records, humankind has attempted to find some form of this "wonderful world and while many seek it, few agree on what factors contribute to a fully wonderful world. Adam Smith, for example, envisioned a very different route to achieving his wonderful world. In Smith's conception of society: harmony, development, and beneficence could only be achieved through an unrestricted market. Smith, in perhaps one of his most famous works ”Wealth of Nations, explained how the market works and argues that the market is the mechanism that establishes both the cohesion and improvement of society.
Adam Smith methodically describes how the market operates and the primary force responsible for it's perpetuation ”self interest. In Wealth of Nations, Smith describes how self-interest motivates suppliers to produce. Robe