Both success and failure of free market economy could be explained through its understanding of human nature. Its great success in production comes from its principles based on “self-interested” human nature driven by animal souls and egoistic desires. The system achieves higher productivity...

Purpose – This paper aims to discuss the crises of free market capitalism in terms of its understanding of human nature. It reveals how recent market madness can be attributed to certain elements of human nature. Design/methodology/approach – The paper uses a conceptual and philosophical...