The Wealth of Nations

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1. 01

   The baker does not make your bread out of kindness but for his own profit — and that self-interest, through the market, ends up feeding the whole town.

   The Wealth of Nations · 1776

   Individual self-interest, coordinated by the market, produces collective well-being.

   Every seller wants to earn money, so they try to make good products at a good price so you choose them. Without anyone planning it directly, the whole town ends up fed, clothed, and supplied. Smith called this the invisible hand of the free market.

   “It is not from the benevolence of the butcher, the brewer, or the baker that we expect our dinner, but from their regard to their own interest.”

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