Untrue. Humans aren't innately selfish and the eight essential are never secured because they aren't guaranteed.
The statement isn't correct and it perpetuates free market rhetoric. If we were selfish we would have never made it as far we've come. Throughout history, humanity collaborated to survive, but over the last 60 years we've been coerced to compete for survival.
Lack of guaranteed basic needs compels us to compete with others and act in our own best interests as a survival mechanism. We can't support our communities when our needs aren't met and we have to continually work to keep them.
You've ignored the sociological effects if capitalism in this paragraph and the one below it. Otherwise, great article.