The Wealth of Nations: Gunnar Knapp

Here is one of the great paradoxes of economics: the most effective way to help others may be by pursuing our own self-interest -- as argued in these famous passages from The Wealth of Nations, published in 1776 by the economist Adam Smith.

"...[M]an has almost constant occasion for the help of his brethren.... He will be more likely to prevail if he can interest their self-love in his favour, and shew them that it is for their own advantage to do for him what he requires of them.

... Give me that which I want, and you shall have this which you want.... 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....

[Every individual] generally ... intends only his own gain, and he is in this, as in many other cases, led by an invisible hand to promote an end which was no part of his intention. ... By pursuing his own interest he frequently promotes that of the society more effectually than when he really intends to promote it."