Adam Quote by Robert H. Frank
“Adam Smith's uncritically enthusiastic modern disciples portray his invisible hand theory as saying that market forces reliably harness selfish individuals to serve the common good. That's often true, but as Darwin recognized clearly, many traits that serve the interests of individual animals make life more difficult for larger groups.”
About This Quote
Source Book: The Economic Naturalist by Robert H. Frank, 2007
Market forces can align self‑interest with collective benefit, but many individual traits harm larger groups, echoing evolutionary conflicts.
In simple terms: Self‑interest sometimes helps society, but often harms it.
Key Takeaway
Balance personal gain with group welfare.
Themes
economics
evolution
self‑interest
collective good
trade‑offs
Mood
analytical
critical
Type
economic
philosophical
When to use this quote
- business strategy
- policy making
- team management
- environmental planning
Key Concepts
public choice
evolutionary biology
social dilemmas
Questions to Reflect On
- How can policies curb harmful self‑interest?
- When does cooperation outweigh competition?
A Different Perspective
Assuming markets always self‑regulate ignores power imbalances and externalities.
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