Mandeville's paradox

The Mandeville paradox is named after the Dutch social theorists Bernard Mandeville ( 1670-1733 ). It states that actions that can be characterized as unfit regard to individual persons, for society as a whole have their advantages. Mandeville formulated this just in the subtitle of his most famous work, The Fable of the Bees ( The Fable of the Bees ), which reads: "Private Vices, Publick Benefits" ( in German: " private vices, public benefits ' ). In this work he says that " fraud, glory and pride to exist, however, we receive the benefits " ( "Fraud, Luxury, and Pride must live, . Whilst we the Benefits receive" )

The philosopher and economist Adam Smith argued against this approach, even though he defends a moderate version of this idea in his theory of the invisible hand. Mandeville makes his opinion no difference between " vain " and " honorable " actions.