"The vile maxim" is a phrase coined by economist Adam Smith to describe the guiding principle of the "masters of mankind" (merchants and manufacturers): "All for ourselves, and nothing for other people". It signifies a ruthless pursuit of self-interest, often leading to extreme economic inequality and, as warned by Smith, the destruction of society if left unchecked. 

Key Details About "The Vile Maxim"

• Origin: Adam Smith, in The Wealth of Nations, used this to describe the mentality of the wealthy elite in his time.
• Meaning: It represents the greed-driven philosophy that the elite should maximize their own gains, even if it causes "dreadful misfortunes" to others.
• Modern Context: Critics argue this maxim still defines the actions of modern corporations and financial institutions.
• Political Implications: It is often linked to policies that favor the wealthy and weaken social safety nets, sometimes associated with specific interpretations of neoliberalism or libertarianism.