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 ?
Continue reading "Jews Fled Russia to Escape Poverty, Oppression, and Czarist Edictsand their Own Self-Interested Communal Leaders" at.
By pointing out that humans are not the self-interested lightning calculator of modern economic models, she believes she has undermined the case for the market, with the Great Recession being Exhibit A.
Rational choice theory contends that political behavior is best explained through the application of its supposedly "value-neutral" assumptions which posit man as a self-interested, purposeful, maximizing being.
It seemed that describing self-interested behaviors exposed some participants to the judgment or criticism of their peers.
This is yet another example in which strong and knowledgeable leadership is required that does not bend to the current much-used tactics of self-interested bullyboy threats made without consideration for the broader interests of racing.
Smith does not investigate about the cause of sympathy, he assumes it empirically, stressing that it is an original sentiment of human nature (40), that "it is often excited so directly and immediately that it cannot reasonably be derived from self-interested affection, that is, from self-love" (41).
For example, while Delaware case law does not expound on a director's fiduciary duties when adopting and executing a going-dark plan, a few cases indicate that a company's directors may breach their duties in pursuing such a plan if they do so for self-interested purposes.
Theoretically, through self-interested advocacy, citizens protect themselves against the danger that their fellow-citizens will encroach on their rights and privileges.
I suggest we call our new region the "Greater Embarrassment of Disagreeing Blinkered Self-interested Narrow-minded Bureaucrats Region".
We evolved from a self-interested view of what the hospital should do for us as physicians to a more empowered view of how the hospital could employ limited resources to improve care for our community.
A purely self-interested dictator will realize he cannot destroy the economy and starve the people if he plans on sticking around, because then he would exhaust all the resources and have nothing to steal the following year.
He argues that economic behavior was not dictated by a self-interested calculus, but rather that the collectivity was the proprietor of the legal initiative.