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Individual and Self-Interest in Adam Smith's Wealth of Nations

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  • Stefano FIORI

Abstract

The aim of this essay is to describe the concept of self-interest and show how it relates to the idea of the individual as an economic agent, focusing only on Smith's Wealth of Nations. Self-interest is analysed from three different perspectives that highlight its conceptual complexity. The implication of the analysis is that modification must be made to the view that self-interest is a homogeneous and transparent principle, able to guide individuals' actions, and characterized by a set of features commonly shared by the majority.

Suggested Citation

  • Stefano FIORI, 2005. "Individual and Self-Interest in Adam Smith's Wealth of Nations," Cahiers d’économie politique / Papers in Political Economy, L'Harmattan, issue 49, pages 19-31.
  • Handle: RePEc:cpo:journl:y:2005:i:49:p:19-31
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    More about this item

    JEL classification:

    • B12 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Classical (includes Adam Smith)
    • B31 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals - - - Individuals

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