markitect-main/examples/infospace-with-history/output/entities/public-good-versus-private-interest.md

Public Good Versus Private Interest

Definition

The tension between policies that benefit specific private interests and those that promote the general welfare of society. Smith argues that what benefits particular groups often harms the broader public interest.

Source Chapter

Book IV, Chapter 2

Context

Smith examines how policies that benefit specific industries or groups often harm the broader economy, arguing that the pursuit of private interest through free markets often better serves the public good than direct attempts to promote it.

Economic Domain

General Theory

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