Adam Smith Made the Point That Individual Pursuit of Self-Interest

question 25

True/False

Adam Smith made the point that individual pursuit of self-interest (egoistic conduct), even when subject to rules and constraints, always undermines the utilitarian goal of producing the most good for all.

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Definitions:

Surplus

An excess amount of a commodity or service, exceeding what is normally utilized or required.

Government

The governing body of a nation, state, or community responsible for leadership, policy making, and administration.

Ethanol Program

A governmental policy initiative aimed at promoting the use of ethanol as a biofuel, to reduce dependency on fossil fuels and decrease greenhouse gas emissions.

Imported Ethanol

Ethanol fuel sourced from foreign countries, used primarily as a biofuel additive for gasoline.