It is interesting how many people have followed the bastardised version of Adam Smith that unrestrained markets are the root of all good. I suspect that it is the simplicity of the message that made it pervasive as a meme despite its dreadful flaws as an economic theory.

To declare self-interest as a primary (as distinct from sole) motivation, is generally taboo but it’s the reality for most people including communists.

Smith was far from an eighteenth century Gordon Gekko character, as he is somtimes portrayed.

His most famous quote is best read as part of the paragraph in the Wealth of Nations, from which it was taken:

“In civilized society he [man] stands at all times in need of the cooperation and assistance of great multitudes, while his whole life is scarce sufficient to gain the friendship of a few persons. In almost every other race of animals each individual, when it is grown up to maturity, is entirely independent, and in its natural state has occasion for the assistance of no other living creature. But man has almost constant occasion for the help of his brethren, and it is in vain for him to expect it from their benevolence only. He will be more likely to prevail if he can interest their self-love in his favour, and show them that it is for their own advantage to do for him what he requires of them. Whoever offers to another a bargain of any kind, proposes to do this. Give me that which I want, and you shall have this which you want, is the meaning of every offer; and it is in this manner that we obtain from one another the far greater part of those good offices which we stand in need of. It is not from the benevolence of the butcher, the brewer, or the baker that we expect our dinner, but from their regard to their self-love, and never talk to them of our own necessities but of their advantages.”

http://www.finfacts.com/irishfinancenews/article_10004429.shtml