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Tag: Self-Interest

Self-Interest Is Not Selfishness

Market relationships are constantly criticized as selfish or greedy, with rewards to selfishness rendering them ethically damaging. As Friedrich Hayek put it, “the belief that individualism approves and encourages human selfishness is one of the main reasons why so many people dislike it.” However, that charge is false.

Markets do involve self-interested people jointly advancing their goals, often without even knowing one another, but pursuing one’s self-interest is not the same as being selfish.

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