If the world were full of the self-seeking individuals…
““If the world were full of the self-seeking individuals found in economics textbooks, it would grind to a halt because we would be spending most of our time cheating, trying to catch the cheaters, and punishing the caught. The world works as it does only because people are not the totally self seeking agents that free-market economics believes them to be. We need to design an economic system that, while acknowledging that people are often selfish, exploits other human motives to the full and gets the best out of people. The likelihood is that, if we assume the worst about people, we will get the worst out of them.””
About This Quote
This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation.
People are not purely self‑interested; policies should harness broader motives for better outcomes.
In simple terms: Humans have mixed motives; design systems accordingly.
Key Takeaway
Create incentives that appeal to altruism and cooperation.
Themes
economics
human behavior
policy
ethics
Mood
analytical
thought‑provoking
Type
theoretical
practical
When to use this quote
- government regulation
- corporate governance
- community projects
Key Concepts
public goods
social incentives
behavioral economics
Questions to Reflect On
- How can policies balance self‑interest and collective good?
- What incentives tap into intrinsic motivations?
A Different Perspective
Assuming selfishness alone may ignore other drivers.