There is a statement I once heard Milton Friedman make in a talk on capitalism: “self-interest.” Capitalism prompts people, through their self-interest, to create value, and those individual interests become economic drivers of the world. When we begin to understand and exploit existing incentives, far more happens than many people realise.

Today, businesses, firms, entrepreneurs and individuals have established their presence across social platforms: TikTok, LinkedIn, YouTube, Facebook, X and many others. While these platforms are often viewed primarily as marketing channels, the activities taking place on them accomplish much more than conventional marketing.

Some creators provide their videos freely, while others place selected content behind subscription models. Some businesses educate their audiences to build trust, while others share insights to establish authority, attract customers or strengthen their brands. Yet, beneath these different motivations lies a common economic principle: self-interest creates incentives to produce value.

In the contemporary world, individuals are often only one tap away from the information they require. Education is becoming increasingly accessible, practical and immediate. We are moving beyond theories towards demonstrated experience; people showing what they have actually done, what worked, what failed and what they learned from the process. This is the power of self-interest.

An entrepreneur may publish business lessons because they want to establish credibility. A professional may share their expertise because they want to attract opportunities. A company may produce educational content because it wants to acquire customers. A creator may provide free knowledge because they ultimately want to convert an audience into paying subscribers.

The motivations may be commercial, personal or professional. However, the external effect can be significantly greater than the individual's original intention.

People pursuing their interests are creating knowledge that others can consume.

A business seeking customers may educate a potential entrepreneur. A professional seeking recognition may equip a student with practical knowledge. A creator seeking subscribers may introduce someone to an entirely new field of expertise.

The individual is pursuing a private interest, but the market can transform that pursuit into value for society. This is particularly evident in the contemporary information economy. Knowledge is no longer exclusively confined to classrooms, libraries, institutions or traditional educational structures. It is increasingly distributed through digital platforms, driven by the incentives of millions of individuals and organisations seeking to create value for their own reasons.

  • The entrepreneur wants customers.
  • The customer wants a solution.
  • The creator wants an audience.
  • The audience wants information.
  • The professional wants recognition.
  • The learner wants knowledge.

These interests intersect within the market.

What emerges from this intersection is an ecosystem in which self-interest becomes an economic driver of knowledge creation, innovation, communication and value exchange.This is what makes capitalism particularly fascinating to me.

The individual does not necessarily have to pursue the interests of society directly for society to benefit from their activities. The pursuit of individual interests, when channelled through effective incentives and voluntary exchange, can generate outcomes that extend far beyond the individual.

Someone producing a TikTok video may simply want followers. Someone watching it may acquire a skill.

A company publishing a YouTube tutorial may want customers. A viewer may acquire knowledge that transforms their career.

A consultant publishing insights on LinkedIn may want clients. A young professional may discover a new way of approaching their work.

The original intention is individual. The resulting value can be collective. This is the eye of capitalism. It is not merely about money changing hands. It is about incentives motivating people to create, exchange, distribute and improve value. And perhaps the most remarkable aspect is that people do not always need to be instructed to innovate, educate, create or solve problems. Sometimes, the most powerful mechanism is simply to establish incentives that make value creation serve their own interests.

  • People will respond.
  • They will create.
  • They will compete.
  • They will innovate.
  • They will exchange.

And in the process, their individual pursuits can become part of the economic machinery that drives the world forward. That is the power of self-interest. That is the power of incentives. That, to me, is the eye of capitalism.