How does self-interest help achieve society’s economic goals?

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In a capitalist society, the more a business owner or freelancer works, the more money he or she will earn. This serves his or her own self-interest, because he or she will have more money to spend.

By earning more money, that business owner makes an active contribution to economic growth. In a similar way, by spending this additional money on other products or services, he or she provides another boost for the economy by boosting the turnover of another business.

In the process of pursuing self-interest and greater profit, the owner of a business may provide a new product or service that streamlines the process of making a profit for other businesses.

For example, if a businessman were to invent a point of sales system that made it faster than ever for a cashier to ring up a customer's purchases, then retailers may make more sales, which in turn boosts the economy.

Anglo-Dutch philosopher Bernard Mandeville (1670–1733), in his seminal The Fable of The Bees: or, Private Vices, Public...

(The entire section contains 3 answers and 518 words.)

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