Adam Smith, whose Wealth of Nations was published in 1776, was the father of modern economics and capitalism. He argued that the free play of market forces was the best recipe for a thriving and growing economy. If everyone is as free as possible to pursue their own interests, they will be directed by an invisible hand1 to promote the well-being of society as a whole. Many would agree that societies made up of people pursuing their own interests are the most effective way to increase wealth. Say no to plagiarism. Get a tailor-made essay on “Why Violent Video Games Should Not Be Banned”? Get an Original Essay There are many reasons why self-interest is the most effective technique for increasing wealth in society. Within a community/society/country there are two main assemblies, the government and the citizens. Both assemblies play an important role in the market, the government is there to resolve any conflict, minimize problems and bring social justice to the society, apart from this they have no place in the market. On the other hand, the main role of citizens in society is to produce as many goods and meet the needs and wants of society, in order to increase wealth. As Smith once said, government should not suppress self-interested people, because self-interest is a rich natural source.2 Individuals in society know better than anyone else what is good for them and that under the influence of profit, this will motivate them to understand what society wants and needs and transform their own interests into products desired by society. Smith's theory influenced many current economic foundations in Western Europe and North American countries. The main reason is quite obvious: Smith's main idea, perfect competition and a free market system. An example of a free market country would be Canada. Smith believed in an economy in which competition is the vehicle that drives competitors to renovate their self-interests in order to remain in the free market, otherwise the invisible hand will eliminate them from the market. Keep in mind: this is just a sample. a custom paper now from our expert writers.Get a custom essayA clear sign of succession of Smith's theory of capitalism can be compared to Karl Marx's theory of communism. A capitalist belief is that each individual continually strives to find the most advantageous employment for the capital at his disposal. According to Adam, every person has the right to pursue happiness and everyone must take it into their own hands to progress within society. Marx disagrees saying that when a person improves, they are not improving themselves but rather endangering society. In Adam's idea of ​​society, each person can do whatever they want to progress and each person can pursue happiness in the way they believe is best. Technology creates new and better ways of doing things, which allow society to grow and become more advanced..