Adam Smith Self Interest Analysis

Self-interest is when you only focus to achieve what is only good for you or it’s when people work hard to help themselves in order to meet their financial conditions without affecting anybody. To achieve what people want require hard work, in fact, most people don’t work if it wasn 't for their self-interest. As per the ethics the use of the self-interest should be limited to some extent to avoid till it starts harming others. Main elements are limited to government access, exchange on the market and enlighten of self-interest. As per the Adam Smith, self is good for the market but till certain extant. One of the main ideas of Adam Smith is Invisible hands that every company in the market should have rivals to offer the same products in order …show more content…
It’s kind of natural and normal for most of the people to develop their self-interest as they went through any event in their lives. Let’s take an example of a butcher, butcher supply the meet to the shop or the customer directly and only do for the sake of money, because that match their needs, grow their business and also helps to develop their self-interest. Let’s say butcher want to give out free meet so people who can’t afford it, by this method butcher cannot make any profit on it (no profit/even lose money). So the only money servers the purpose of butcher providing meet. Secondly is an exchange in the market, which could be for the product, for money or for services, whatever suits the concern party. As it’s been discussed in the Adams model that if someone have oranges, but he wants apples and someone have apples but wants oranges, they can simply trade the products to fulfil their needs. Let’s take an example of the manufacturer, they made products that people want, but they don’t want to trade their products but to sell for money. Another example is about Service Company that people spend money to install security system at their house and security agencies provide people with the service and peace of their minds. So the main point here is people or companies chose the method that match their …show more content…
Invisible hands do perform a specific role in the society but totally depends on how people take it. Government access, exchange on the market and enlighten of self-interest are main point that keep Adam’s theory around. By government having little access can prevent companies do unethical stuff, even if it’s not consider as huge unethical. Exchange in market are done by the preference of the seller or by the trend in the market. Gain success is everyone’s idea so develop self-interest, make goals and chase them to be what you want to be. At last I will conclude is by self-interest have no limits what so ever, everyone got preferences so work hard and get what you deserve