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About this quote

What does it mean?
Smith argues that individuals are naturally best suited to care for themselves, making it appropriate that they prioritize their own well-being.
In plain terms
People know how to look after themselves better than anyone else can.
What can you take from it?
Self-interest is natural and proper.

Where it applies

  • economic decision making
  • personal ethics
  • policy design

Putting it to work

  • designing incentive structures
  • evaluating welfare policies
  • understanding consumer behavior

Questions to consider

  • When does self-care become selfishness?
  • How do we balance individual and societal needs?

Another view

It may overlook how self-interest can harm others or the collective good.

More from Adam Smith

  1. How selfish soever man may be supposed, there are evidently some principles in his nature, which interest him in the fortune of others, and render their happin…

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  2. How many people ruin themselves by laying out money on trinkets of frivolous utility? What pleases these lovers of toys is not so much the utility, as the aptn…

    Permalink to quote #26
  3. Let us suppose that the great empire of China, with all its myriads of inhabitants, was suddenly swallowed up by an earthquake, and let us consider how a man o…

    Permalink to quote #23

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