Here Heath focuses the majority of his argument analyzing Mandeville’s famous poem. In the poem a hive of bees, which serves as a metaphor for society, all act of self-interest which results in a large and prosperous commercial society. Mandeville’s fundamental argument is that trade not only benefits the individuals involved but the public as well. He goes on to say that commerce provides the conditions necessary to seek and realize improvements due to intense competition. Mandeville argues that it’s the role of law to regulate individuals’ vices that negatively affect the lives of others. In Mandeville’s view, law defines property rights and restricts extreme vice which allows for voluntary exchange. Additionally, Mandeville claims that a society of individuals who act out of self-interest may generate unintended benefits to society such as employment or technological advances. Therefore, Mandeville is able to justify vice as long as the benefits generated by them outweigh the costs. He also asserts that exchange isn’t a zero-sum game as previously believed but mutually beneficial and a positive-sum game. Despite Mandeville being perceived as an advocate for egoism and an enemy of morals, his beliefs were revolutionary in that it depicted a positive perception of commerce and exchange without ignoring the negative aspects of it. Mandeville’s ideas are reflected in today’s society, specifically the role of law and how government and institutions have formed to regulate the self-interest of individuals while still creating a prosperous
Here Heath focuses the majority of his argument analyzing Mandeville’s famous poem. In the poem a hive of bees, which serves as a metaphor for society, all act of self-interest which results in a large and prosperous commercial society. Mandeville’s fundamental argument is that trade not only benefits the individuals involved but the public as well. He goes on to say that commerce provides the conditions necessary to seek and realize improvements due to intense competition. Mandeville argues that it’s the role of law to regulate individuals’ vices that negatively affect the lives of others. In Mandeville’s view, law defines property rights and restricts extreme vice which allows for voluntary exchange. Additionally, Mandeville claims that a society of individuals who act out of self-interest may generate unintended benefits to society such as employment or technological advances. Therefore, Mandeville is able to justify vice as long as the benefits generated by them outweigh the costs. He also asserts that exchange isn’t a zero-sum game as previously believed but mutually beneficial and a positive-sum game. Despite Mandeville being perceived as an advocate for egoism and an enemy of morals, his beliefs were revolutionary in that it depicted a positive perception of commerce and exchange without ignoring the negative aspects of it. Mandeville’s ideas are reflected in today’s society, specifically the role of law and how government and institutions have formed to regulate the self-interest of individuals while still creating a prosperous