self-interest


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self-interest

the belief that individuals are the best judges of their own interests and should be left to make decisions themselves as customers, employees or entrepreneurs. Self-interest provides a justification for PRIVATE-ENTERPRISE ECONOMIES, which use the PRICE SYSTEM to allocate resources. Compare PATERNALISM, CENTRALLY PLANNED ECONOMIES.
References in periodicals archive ?
While Daily Journal publisher George McLean was the enlightened self-interest guru and unrelenting catalyst behind Tupelo's transformation, the Tupelo Story is really a multi-generational story of strong and progressive business leadership, inclusive community engagement, well-researched and strategic decisions, and institutionalized civic processes.
If these individuals represent enlightened self-interest Vera Lynne is still 21 and Jeremy Corbyn will be Prime Minister next week.
Her title gets at the core of her argument: Adam Smith invented modern economics by creating the idea of "economic man"--who is, in Veblen's terms, "a lightning calculator" of his self-interest--and the idea of the invisible hand, by which greed and self-interest are always good in leading to economic growth.
Free-market economics, Veith starts out stating, is the pursuit of self-interest, and this drives many Christians toward a benevolent or socialistic economic worldview.
To its credit, public choice theory provides a unified conception of self-interest, insisting that it is the key motive driving economic and political actors alike, albeit dissimilarly (mostly a positive factor in markets, but mostly a negative one in politics).
However, the society is devoid of such a faculty and would often find difficult, if not impossible, to overcome the power of self-interest and collective egoism.
Men will contribute to a fundraising campaign if they are convinced that their self-interest is aligned with the particular cause.
Blang argues that self-interest, rather than any antagonism or misjudgment between the Western powers and the United States, prevented America's allies from influencing American policy in Vietnam.
But weaker males have less self-interest and tend to support the welfare state.
Washington, October 10 ( ANI ): If we make a decision that favours self-interest, we often feel guilt for prioritizing ourselves over others.
My bank is driven by top management policy of self-interest and disinterest in its customers' grievances.
They also 'occupy' the political and economic agenda promoting policies of self-interest that have damaging consequences for all.