Micro-Economics Discussion board?

Question

I'm confused at exactly what I'm supposed to say. . .

Adam Smith wrote: It is not from the benevolence of the butcher, the brewer, or the baker, that we expect our dinner, but from their regard to their own interest. People such as Ray Kroc, J.R. Simplot and even Dave Feamster do create wealth and employment; they deliver a product that people want to buy. How can we reconcile the personal incentive for entrepreneurialism that has been a centerpiece of our economic growth and standard of living with the realities of such a complex modern economy? Does Smith's view of an economy still apply to ours?

Answer 1

I think Adam Smith idealized some concepts, and another thing is that society is dynamical substance - it changes all the time, so ideas what there working before doesn't necessarily work in new world.