In addition, the higher prices allowed the greedy grocery owner to pay children to put their sleds to a new use, thereby increasing the supply of food available for sale. It could, of course, be argued that high prices, while admittedly containing some inherent benefits, discriminate against the poor. I. Yet I benefited greatly from the forces of self-interest. I should also note that high prices give way to low prices as capitalists scramble to supply more of the highpriced goods to increase their profits. What we see here is capitalism in action, and at first glance, it is not a pretty sight.
Capitalists motivated by greed seek their own gain by maximizing profits.
The forces of the market place, however, convert this private vice into public virtue. Thus, living a life based on greed, which appears to be the antithesis of Christian morality, can do quite well in accomplishing the goal set forth above - that is, to better society and benefit our fellow human beings. In fact, Adam Smith's contribution in the history of intellectual thought was not inventing capitalism but providing theoretical insight into how self-interested individuals ultimately benefit society more than they benefit themselves. I would now like to carry the argument one step further. Not only do I believe that self-interest benefits society, but I also contend that it is the only efficient way goods can be produced and distributed in a modern economic system.