For more course tutorials visit www.phi445.com Self-Interest or Community Interest. As read in Chapter 2 of the course text, Adam Smith argued that self-interest is a critical element in a society’s economic development. Karl Marx, by contrast, argued that society functions better when each of us is more community oriented. Pretend you are either Adam Smith or Karl Marx, and explain economic recession from these perspectives. a. Discuss when greed and selfishness in businesses go too far and become a hazard to society.