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The Market - Between the Actor's Own Interest and the Public Interest

Author

Listed:
  • Viara Stoilova

    () (University of National and World Economy, Sofia, Bulgaria)

Abstract

The article focuses on the relationship between the actor's own interest and the public interest in the functioning of the market. The methodological approach to analyzing this relationship is based on the metaphor of „invisible hand“. The aim of the article is to justify the diminishing cooperative role of the "invisible hand" for the realization of the public interest. On the basis of the theoretical-analytical approach, the concepts of "own interest" and "public interest" are defined and the distinction between "own interest" and "selfish interest" is justified.

Suggested Citation

  • Viara Stoilova, 2018. "The Market - Between the Actor's Own Interest and the Public Interest," Nauchni trudove, University of National and World Economy, Sofia, Bulgaria, issue 1, pages 69-79, March.
  • Handle: RePEc:nwe:natrud:y:2018:i:1:p:69-79
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    File URL: http://unwe-research-papers.org/bg/journalissues/article/9937
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    More about this item

    Keywords

    public interest; own interest; selfish interest; invisible hand; market;

    JEL classification:

    • A1 - General Economics and Teaching - - General Economics
    • Z1 - Other Special Topics - - Cultural Economics

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