One of the tenets of collectivism is that the welfare of society is best served by letting people pursue their own economic self-interest.

Name: One of the tenets of collectivism is that the welfare of society is best served by letting people pursue their own economic self-interest.
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This statement is actually a tenet of individualism, not collectivism. Collectivism emphasizes the importance of the collective welfare and regards individual interests as subordinate to the needs of the group.

One of the Tenets of Collectivism Is That the Welfare