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S_DCLASS - Demand Supply and the Meaning of What did Adam...

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1 Demand, Supply and the Meaning of (Economic) Life What did Adam Smith Know? 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. By pursuing his own interest he frequently promotes that of 1 he frequently promotes that of society more effectually than when he really intends to promote it Invisible Hand and Laissez faire, S&D, price system, interfering with markets 5 Minute U Friedman’s pencil In the News 2 And, closer to home… 3
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