Adam Smith's Big Three

"Number one was that Smith exploded the notion that people could only enrich themselves at the expense of others. Not so, said Smith. Wealth is created by specialization and exchange.

Number two was the invisible hand, that spontaneous ordering of society which means that when we act in our legitimate self-interest, we often benefit countless others we shall never meet. When we buy we unwittingly create employment and pay wages. When we sell we provide other people with goods they value more than the money they part with.

Number three, from the Theory of Moral Sentiments, is that the most striking characteristic of humankind is our propensity to empathize with our fellow men and women, feeling sadness at their grief and pleasure at their happiness. The three points, taken together, amount to a powerful social philosophy and gave the world not only the scientific study of economics, but an understanding of how human beings interact with each other. Truly a powerful contribution."
Adamsmith.org