Invisible hand vs Tragic Commons
Adam Smith in The Wealth of Nations writes: "As every individual, therefore, endeavors as much as he can both to employ his capital in the support of domestic industry, and so to direct that industry that its produce may be of the greatest value...By directing that industry in such a manner as its produce may be of greatest value, he intends only his own gain, and he is in this, as in many other cases, led by an invisible hand to promote an end which was no part of his intention...By pursuing his own interest he frequently promotes that of the society more effectually than when he really intends to promote it. I have never known much good done by those who affected to trade for the public good..."
However, does the invisible hand ALWAYS move commerce toward the public good? Note that Smith doesn't say always. He uses the word "frequently." We can think of many cases where actions designed to benefit the individual lead to public bad. Of course deceptive, practices, illegal practices, and antisocial behavior may lead to public bad, but so may rational economic decisions.
Durkheim
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