In chapter 5, the author starts off with a discussion about Adam Smith and his self-interest. Adam Smith is famous worldwide for the "invisible hand" - used in economics. Furthermore, Smith is the person who created a socio-economic theory where he explains that if a persons self-interest becomes too greedy - it is classified as "never-enoughness." He further discusses that if people would be honest to their own instincts, they would understand that how they mentally feel is strongly impacted by how much they care for the well being of other people.
It was very interesting to read in the chapter that even Bill Gates mentioned Smith's self-interest principle during a speech he held in Davos. Gates, used Smith's principle not to talk about an individuals self-interest, but used it to support his opinions and beliefs about computer technology. Gates mentioned also the same significant fact mentioned earlier by Smith - that people should care about other people. He also discusses that advancement in technology could not be sufficient to create a vast change for the way people live - but that also "system innovation" is needed.
It is crazy how Adam Smith who lived hundred of years ago, has had such a profound impact on our government and culture!
ReplyDeleteTo see Adam Smith's socio economic theory live on and be applicable to modern day society is truly remarkable. Gates embodies the principle of caring for the well being of others and I'm happy to see that Adam Smith had a positive impact on world leaders as we know them.
ReplyDeleteIt's great how Gates could integrate Smith's theory in a positive way. Instead of looking humans as greedy, Gates is optimistic about technology advancement.
ReplyDeleteThe classification of "never-enoughness" is such an interesting concept that I would argue could have religious and Biblical origin but has integrated into academia- super interesting!
ReplyDeleteIt's interesting to read about Adam Smith thinking that people should care for others after reading chapter 4, which talks about how people pull apart from others when they are thinking about money.
ReplyDeleteI like the part that says if people would be honest to their own instincts, they would understand that how they mentally feel is strongly impacted by how much they care for the well being of other people. Great to see this impacted great role models like Bill Gates because a lot of people look up to him.
ReplyDeleteI see this idea of "never-enoughness" much too often with many of the people alive today. Those who show this trait fall into a never ending cycle of selfishness. How can we remedy this?
ReplyDeleteIt's quite crazy how Bill Gates could reference Adam Smith like that and elaborates on the idea that people should care about others. Early in Gates' career, he was pretty selfish, but has come a long way especially now with his benevolent & charitable actions
ReplyDeleteThe idea of "never-enouthness" is very interesting. And I can see the "never-enoughtness" still keep the world running. For Bill Gate reference, I just simply think that if one is rich enough to a certain level, it is natural for them to think use their money to do something good. (It can be they have nowhere else to spend their money)
ReplyDeleteI think that Gate's reference was great Daniel. This piece definitely establishes on the "never-enoughness" still keeps the world running.
ReplyDeleteIt is interesting how Bill gates mentioned Smith in his speech
ReplyDeleteI like the viewpoint that people should care about other people.
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