according to smith, what is the primary economic motivation for most people?

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22-01-2019
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according to smith, what is the primary economic motivation for most people?

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MsBerger MsBerger · Answer 1 · 2019-01-31T22:45:58+01:00

Adam Smith is considered the father of Economics. He wrote a book, called "Wealth of Nations" and in it, explained his Theory of Economic Development. He believed in free trade (natural trade without tariffs or restrictions) and Laissez-Faire (the state should not impose restrictions on the freedom of an individual) economics.

He stated that all human beings were motivated by self-interest. this theory was also to be applied to economic interest. He also believed that self-interest and competition was good for the economy and each other.

ogorwyne ogorwyne · Answer 2 · 2021-10-19T14:09:10+02:00

According to Smith, the primary economic motivation for most people was to to find employment where they can make the most money.

According to Adam Smith, Money is the main reason why most people go searching for employment opportunities. People are willing to leave a job that pays less for a job that pays more.

This evidently tells us that money is a very critical economic driver. People look for the employment that would fetch them the most capital.

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