Refutation #1 -- The Harmony of Self-Interests

One attack on the invisibile hand is that though self-interest is harmonious with societal aims, it may not be the most harmonious. That is, a person may bring benefit to society by following his self-interest, but the contention could be that more benefit would be brought through self-negating behavior.

This, however, is praxeologically false. Harmony depends on communication; that is, others need to know what’s important to us and they can only learn that if we pursue our self-interest. We can only know what’s important to others, if they pursue their self-interest.


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