You can't rely on natural human self-interest to guide economic decisions because natural human self-interest is based on physical survival of the individual, not profit.

I often hear this argument from pro-capitalism advocates that people acting in their own interest self-regulates the market. They will take a better paying job for the same work, they will buy the lowest cost item for the same perceived quality, they will seek the best deal for their goods and services. And this is true. But people acting in their own interest is self-interest in the survival sense, not a self-interest in the profit motive sense. <br><br>With a survival-based self-interest, people will work a job that pays the lowest wage for a good because it feeds their family. They will buy a good that is more expensive that is produced with better quality standards if they feel it is safer for their family. They don't make decisions based on maximizing profit. They self-regulate based on maximizing physical survival.<br><br>And if companies can't compete by producing safer products where safety costs more, because they aren't acting in their own survival self-interest, but their own profit self-interest, they will produce cheaper, lower quality standards to compete on price and the consumer self-interest will have a lower quality good.<br><br>&#x200B;<br><br>EDIT: A few people pointed out that does the survival need of the consumer not come secondary to wanting to get rich themselves? And I would say no. The desire to make more money is still driven by the survival need. To have more food, to have better access to medical care, to feel safer, to provide for family, etc. I don't know that many people who take a higher paying job or a better offer because they think it will make them more powerful, or because they want to accumulate more capital for the sake of accumulating capital.<br><br>EDIT 2: I think the consensus is that the people who agree with me are largely in agreement and the people who disagree with me largely disagree. For those who think I am talking about physically Survival like a bear in the forest, I am not. Humans are social creatures and our society is based on an economic system, so having a job and paying bills is part of our survival.