Equilibrium Tends To Harmonize Individual And Societal Interests.

Here is an additional point of contemplation. Equilibrium is not instantaneous, it is a tendency and if it is achieved it happens in the future. In other words, the Human Civilization Equilibrium diagram has another dimension that is implied. The time element is necessarily a part of the long-run nature of equilibrium. “We have seen that there tends to be a coincidence between the actions or rules of action that best promote the interests of the individual in the long run and the rules of action that best promote the interests of society as a whole in the long run. We have seen that this coincidence tends to be greater the longer the period we take into consideration.” [36]

Liberty & Justice of Economic Equilibrium, p. 20.

[36] Henry Hazlitt, The Foundations of Morality, (The Foundation For Economic Education, Inc., 1998), p. 108.

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