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How to Organize Our Economy and Public Policy
We should design policies so that those two aspects of our human being are working together in a synergistic or complimentary way. That is what adam smith was talking about. He thought that we should combine the material interests with the moral sentiments. And he thought that there is a way of doing that. So i think, yes, the idea that you can replace the self interested system of competition on markets for profits and so on, with an entirely different system based on essentially regard for others, i mean, it's obviously false. I mean, the whole world cannot be organized as if wewere just on a little camping trip.