Invisible Hand structures cannot self-regulate without implausible functionalist assumptions. [contrarian]
Without some general structure, egoistic micro-motivation merely returns us to the Prisoner's Dilemma. So if this kind of motivation is to do all the work, we need an Invisible Hand structure that will bring it about that a tendency to defect is offset by some other egoistic micromotivation (and will also allow this to be adequately known, etc.) But one needs extraordinarily strong and implausible functionalist assumptions to believe that such structures could be self-regulating and selfpreserving, and there is abundant evidence to hand, generated by a body of relentless social experiment, to show that they are not.
XREF: Ties to Prisoner's Dilemma theory and critiques of free-market self-regulation that assume rational self-interest produces collective good.
Diego Gambetta, Trust - Making and Breaking…, loc. 215