In his famous book The Wealth of Nations, Adam Smith stated

In his famous book The Wealth of Nations, Adam Smith stated

not from the benevolence of the butcher, the brewer, or the baker that you expect our
dinner, but from their regard to their own interest. We address ourselves, not to their humanity but to their self-love, and never talk to them of our own
necessities but of their advantages.”

What do you think Adam Smith meant in this statement? Try to use concepts seen in this unit such as specialization, mutual gains from trade, market
coordination, etc. in your interpretation.

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