“Certain contemporary overenthusiastic market socialists tend, contrariwise, to forget that the market is intrinsically repugnant, because they are blinded by their belated discovery of the market's instrumental value. It is the genius of the market that it (1) recruits low-grade motives to (2) desirable ends; but (3) it also produces undesirable effects, including significant unjust inequality. In a balanced view, all three sides of that proposition must be kept in focus, but many market socialists now self-deceptively overlook (1) and (3). Both (1) and (2) were kept in focus by the pioneering eighteenth-century writer Bernard Mandeville, whose market-praising Fable of the Bees was subtitled Private Vices, Public Benefits. Many contemporary celebrants of the market play down the truth in the first part of that subtitle.”

—  Gerald Cohen

IV. Is the Ideal Feasible?
Why Not Socialism? (2009)

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Canadian philosopher 1941–2009

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