Self-interest refers to the actions and decisions individuals make to benefit themselves, often prioritizing personal gain over the needs of others. This concept is fundamental in economics, where it is believed that people act in ways that maximize their own well-being, leading to overall societal benefits through the invisible hand of the market, a term coined by Adam Smith. While self-interest can drive innovation and economic growth, it can also lead to negative outcomes, such as exploitation or inequality. Understanding self-interest helps explain human behavior in various contexts, including business, politics, and social interactions, highlighting the balance between personal goals and collective welfare.