1. Public Welfare - Leviathan and The Wealth of Nations
... to attain a peaceful and cooperative life. Within the narrower context of modern economics in The Wealth of Nations (1776), Adam Smith confirms Hobbes's idea that self-interest could indeed serve public welfare. He asserts that the human nature to look after their own welfare, under "a well-governed society," will lead to a more efficient economy, and ultimately generate " ... Specifically, a business man who prefer to engage in domestic trade for his own capital security, in turn increase domestic capital stock, thus enhance military power, both of which are in public interest, and nei...
- Word Count: 1845
- Approx Pages: 7
- Has Bibliography
- Grade Level: Undergraduate