“At some point doesn’t self-interest interfere with a healthy market place?”
Self-interest can be a pretty complicated thing. To begin with, there is basic self-interest, such as an infant, or a desperate person has. Usually focused on just one thing, be it water and food, sleep, to go to the toilet, that sort of thing. There is also negative self interest, such as that of the addict and the gambler, often fighting for attention with their real needs.
But people soon grow beyond that, hopefully. They extend their self interest to their family. A wise and prudent thing to do.
But beyond family, self-interest enters the abstract. Many people have no community interest, and even fewer care about their nation, unless they are rallied to care by a threat against their nation which may threaten their family.
People who are psychologically dependent on communality abhor those who have no community, and practically speaking, national events that effect us and our families are, and should be, rare, and it shows bad government that it interferes with our lives as much as it does.
So this is where the problem really begins: in people trying to extend their self interest beyond their family; and people, often shamelessly, trying to rally the care of other people for their own, cynical purposes.
For example, the Democrat party.
This is why self-interest, real self-interest, is much better for capitalism. Because it is focused and personal, not abstract, idealistic and fantastic.
A person in the market based on their self-interest is both a better producer and a better consumer. As consumer, by seeking the best product at the least price, instead of for some abstract reason. Say well made Italian leather shoes instead of plastic shoes “to save the rain forest”.
A self-interested person is often a better judge of abstract self-interest than a person who pursues idealized fantasies.
For example, very level headed people are glad to spend money on a ballistic missile defense, because they see that directly benefiting their self-interest.
At the same time, those who have idealized fantasies oppose a missile defense as being “provocative” to our enemies with missiles. They prefer their fantasies to their own real self-interest.
My concerns are with those that have a self-interest in business at the expense of employees.
I suspect I answered it my own mind in the following:
A business owner has a long term self-interest ensuring that his employees are content, not under/over paid, and willing to stay with the company long term.
That same business owner must ensure that his customers are getting the products & services they want or need at a competitive price.
Failing to do either puts in jeopardy company health & longevity.
Thus, his goal is to keep his customers/employees content.
His motivation is self-interested, ie pay the bills, put the kids in college, &etc.
The fruits of his labor are also passed onto others, who in turn pass it on to others. Trickle-down theory.
I know better now why capitalism is superior to any other market ideology.
Thanks.