Quote by Adam Smith on self-interest


A quote by Adam Smith on self-interest is the topic of this blog post.

“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.” Adam Smith

“This quote is undoubtedly quoted more often than most of Adam Smith’s other quotes for a good reason. The absolute truth of this quote cannot be denied and I absolutely agree with this quote. I do not doubt for a moment that individuals that are acting in their own self-interest do, at least the great majority of the time serve the common interest.   I absolutely support the right of any person to act in their own self-interest as long as they do not infringe on the rights of others. Where I personally part company with many people who tend to quote Adam Smith is the tendency to use this quote to justify the most greedy and unscrupulous behavior imaginable such as that engaged in by many of the big banks and other big corporations, particularly on Wall Street.” Stan Burman

Stan Burman is an entrepreneur and freelance paralegal who has worked in California and Federal litigation since 1995 and relocated to the Philippines several years ago by taking to heart some of the useful quotations posted on this blog.  He has created over 255 sample legal documents for California and Federal litigation which can be viewed at https://www.scribd.com/LegalDocsPro

Visit his websites at http://www.legaldocspro.net or http://www.legaldocspro.com

Comments are welcome.

 

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Stan Burman

Legal entrepreneur and retired litigation paralegal that worked in California and Federal litigation from January 1995 through September 2017. I have created over 300 sample legal documents for sale. To view visit https://legaldocspro.myshopify.com/products Subscribe to my weekly newsletter with legal tips and tactics for California and Federal litigation and receive 10 FREE gifts. Visit http://www.legaldocspro.net/newsletter.htm

4 thoughts on “Quote by Adam Smith on self-interest”

    1. Thank you for your comment. I agree completely with your quote as I know that there are many business people who while they may be self-interested still find time to show compassion for those less fortunate than themselves. You can have profit as your primary motivation and still have a conscience despite the actions of most large corporations nowadays that think of profit and only of profit. Behavior like that only gives self-interest a bad name and the fact that the writings of Adam Smith are often taken out of context by some people makes things worse. Some people believe that Adam Smith was an apologist for excessive greed when that is clearly not true.

      Liked by 1 person

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