Sunday, 1 September 2019

Private Vices, Public Benefits

Bernard Mandeville
The ancient philosophers believed that only virtuous people can build a good society (if Aristotle was asked whether selfish and greedy men can create a good society, he would have said no), but some of the modern philosophers realized that people with vices (greed, selfishness, etc.) are better at building a good society than the people who possess all the classical virtues.

The virtue of greed, selfishness, etc., was first explained by Bernard Mandeville, who coined the famous slogan “Private Vices, Public Benefits,” in his The Fable of the Bees, published as a poem in 1705 and as a book in 1714. Mandeville’s ideas have inspired the works of David Hume, Adam Smith, Edmund Burke, and a few other thinkers of the 18th century.

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