Homo Economicus

"If it had been 'Lehman Sisters' and not 'Lehman Brothers,' the world might look very different today." Christine Lagarde When Adam Smith, the founder of political economy, was working on his major work, The Wealth of Nations , he lived with his mother, Margareth Douglas. According to Adam Smith, the principle that everyone should pursue their own advantage was the foundation for the well-being of society as a whole. As he developed this fundamen...