1. Public Welfare - Leviathan and The Wealth of Nations
... towards mankind's existence. He does not deem self-interest as inherently vicious, but rather intrinsically constructive to civilization. This view is validated by Smith's metaphor of the "invisible hand," which presents a condition when a man who intends to only advance himself may, in the act of acquiring that benefit, produce prosperity for everyone, as if there is an ... economy. He is a supporter of free-market network, of which self-operated economy will maximize efficiency. Nonetheless, Smith does not ignore the significance of the "visible hand," government and regulations. In fa...
- Word Count: 1845
- Approx Pages: 7
- Has Bibliography
- Grade Level: Undergraduate