In revisiting Durkheim’s humanism in recent years, attention has been drawn to his theory of moral individualism and the usefulness of his argument that a reformed democratic capitalism can reconcile individual freedom with collective constraint. This article investigates Durkheim’s understanding of the relationship between the individual and society in greater detail, showing in the process that his thinking was ambiguous and inconsistent. Although he flirted with the notion that capitalist modernity might actively foster and legitimize destructive forms of individualism, his default position was to attribute anti-social drives to a human nature set loose by weak or inadequate social norms, and then to idealize liberal humanism as the ethical remedy for this normative deficiency. The article argues that the inconsistencies in his thinking are significant, however, because they testify to the underlying contradiction between the logic of capitalism and the ideals of moral individualism, and to the difficulty of locating the moral individual in a morally irrational world.