We have all chosen freely, for no one deliberately interfered with our choices; yet the outcome is something none of us wants. If we all went by bus, the roads would be empty and we could be at work in twenty minutes. Even with the inconvenience of waiting at the bus stop, we would all prefer that. We are, of course, free to take the bus, but all the other cars on the road slow the bus down, so none of us has a sufficient reason to do so. We have each chosen in our own interests, but the result is in no one’s interests. Individual rationality, collective irrationality.
