Question
The famous economist, Adam Smith's quote from his book, The Theory of Moral Sentiment, notes this observation of society... led by an invisible hand... without
The famous economist, Adam Smith's quote from his book, The Theory of Moral Sentiment, notes this observation of society... "led by an invisible hand... without knowing it, without intending it to advance the interest of society". Is there an ethical (business or personal) component to A. Smith's observation? If no/yes, explain the economic rationale of your opinion. If economic progress has its roots in Christian theology and other religious beliefs and is organized around the principles of compassion, then is the better model for economic success self-interest or is it one that suits the common good of all society? Can you identify a scripture verse or (para phrase verse) from Christian teachings or another religion that aligns with the ethics of choosing self-interest and/or the common good of all society? Include the scripture verse and explain why the verse align with principle one of macroeconomics.
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