“It is not rom the benevolence of the butcher, the brewer, or the baker that we expect our dinner,

but
from their regard to their own interest.” ~Adam Smith.

SELF INTEREST

Putting people before yourself is considered irrational in economics.

1. Assumptions
a. Rationality:
b. Ceteris Paribus Assumption: meaning everything else is equal. Example: shop needs 100
items per day after calculations. One day no one was able to come to the shop so the
100 items already bought were not sold. This is not a problem in their calculations but it
was a special case where “all else was not equal”.

Real representation of what economics would be without assumptions like rationality and ceteris
paribus, is the stock market as it is uncontrolled and unstable.

THE REPUBLIC