Failures of the Invisible Hand (Part 1) : Self-interest as a virtue

In the film Jerry Maguire, when the hero shares a mission statement about how self-interest has replaced love as the reason to do business in the sports industry, he receives a standing ovation from his colleagues but is fired by the management later the same day. Many experience Maguire’s dilemma at the workplace where only the “converts” who can veil their innermost truths and align without flinching to the vector of capitalism are considered winners. Some of us resort to the unfortunate conclusion that cold selfish behaviour is “natural” for human beings in economic situations. This is false. The real reason for moral ennui at the workplace is buried in mainstream economic theory.

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