What Does Adam Smith Say Motivates Economic Activity?

• What does Adam Smith say motivates economic activity?

• Why would this seem to suggest that there is no place for morality in business?

Adam Smith asserts that self interest motivates economic activity. Mr. Smith emphasizes that while there might be the numerous intentions behind individual deeds, that primary motives beneath all of our behaviors are self interested and pursued for our own personal gain. An instance of this is delivered in the passage maintaining, “It is not from the benevolence of the butcher, the brewer, or the baker, that we expect our dinner, but from the regard of their own interest.” Further citing, “Nobody but a beggar chooses to depend chiefly upon the benefits of his fellow-citizens. Even a beggar does not depend upon it entirely.”; to which I agree.

Self interest seems to suggest that there is no place for morality in business in that it may give an indication of unfavorable undertones perhaps being materialistic and gluttonous thus sparking dishonest, immoral behavior. However self interest does not necessarily have to indicate a disregard for others. To the contrary, self interest may also be a benefit to others as it may guide one to be benevolent while still serving the interest of self first. A scenario such as this could occur performing charitable work by which the self interest is the personal fulfillment providing also psychological benefits one may obtain through aiding others in need or perhaps supplying quality products or services to the disadvantaged, however at sensible rates.