The world is not so governed from above that private and social interest always coincide. It is not so managed here below that in practice they coincide. It is not a correct deduction from the principles of economics that self-interest always operates in the public interest. Nor is it true that self-interest generally is enlightened; more often individuals acting separately to attain their own ends are too ignorant or too weak to attain these. Experience does not show that individuals, when they make up a social unit, are always less clear sighted than when they act separately.