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