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Per Macionis (2017) "Adam Smith (1723-1790) claimed that as individuals pursue their self-interest the entire society prospers

Sociology

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Per Macionis (2017) "Adam Smith (1723-1790) claimed that as individuals pursue their self-interest the entire society prospers." (p. 408) This is one of the basic principles supporting a capitalist economy. However, Adam Smith also made a distinction between the pursuit of self-interest and greed arguing that "No society can surely be flourishing and happy of which by far the greater part of the numbers are poor and miserable." Based on what you have read in this chapter, describe an economic system that you think would come closest to being "just." This economic system might be some combination of the types of economic systems described in the chapter. Explain what you mean by "just" and how the system operates to generate "justice."