How does self-interested action benefit the collective?  

This is a question still discussed today in the tribalism of left-right political debate. On the one side, there are those who believe the good of the collective must supersede the interest of the individual and the two cannot coexist. Slogans such as ‘for the many not the few’ and ‘for the common good’ exemplify this.   

An interesting question therefore arises from this crucial debate. Why do we care so much about the collective? 

Is it as simple as left vs right, Marxism Vs Capitalism? Or is there a deeper understanding to this issue? 

In this episode of the IEA Podcast, IEA Communications and Public Affairs Officer Kieran Neild-Ali sat down with Professor Daniel B Klein to discuss his article in the latest volume of the IEA’s academic journal, Economic Affairs, on Hayekian theory of collectivist policies.  

Daniel Klein is a Professor of Economics at George Mason University. He leads the Smithian Political Economy program at GMU Economics. He is the chief editor of Econ Journal Watch. 

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