It’s one of the most famous quotes in economics, written by Scottish moral philosopher, Adam Smith, over two and half centuries ago. ‘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’.

This one sentence essentially encapsulates the basis of capitalism (a term that Smith didn’t use) – that exchange is a mutually beneficial activity by which all parties are better off.