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the historical roots of modern capitalist economics were laid in late18th century great britain by david hume (1711-1776) and especially by adam smith (1723-1790). both their followers and their critics have rarely disputed the assumption, made explicitly by smith, that each individual is motivated by self-interest.in exhibit 1, we see that great britain (GBR) scores very high on individualism(rank 48 out of 50).Although britain in the 18th century was certainly less individualist than it is at present,there is much historical evidence that relative to other countries it represented a very individualist culture even then.in countries nearer to the collectivism end of the individualism-collectivism scale, the assumption that each individual is motivated by self-interest is culturally untenable.in a collectivist culture, the individual is motivated by group interests.
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