Self-Interest Vs Altruism

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While turning to any news source can provide a plethora of stories showing individuals in professions who put their self-interest ahead of everything else, there are also numerous stories showing the opposite. I don’t believe that self-interest and altruism are mutually exclusive in professions, much less the world at large. In fact, it is their balance, or imbalance, that makes up society. According to Merriam Webster, self-interest is defined as “a concern for one’s own advantage and well-being;” whereas, altruism is “unselfish regard for or devotion to the welfare of others.” While the definitions are obviously opposites of each other, they can and do exist simultaneously in everyone. Individuals must strive to keep both sides in check …show more content…

Martin argues this point, stating that, according to Adam Smith, while most likely unintentional, some merchants seek to please customers by benefiting the community in order to increase satisfaction and therefore gain sales (pg. 12) or the rich provide jobs for the poor who need them, thereby distributing wealth (pg. 15). While obviously not an exact science, individuals must consistently seek to moderate between the two sides to keep the marketplace free and energized. David Landes (in Dawson, 2004) suggests that, historically, free enterprise is the most successful driver of wealth creation and, above that, it may also provide “all manner of social advantage within the company, community, and home country.” Dawson (2004) goes on to highlight these advantages include investments in community programs, impetus for social change, a tax base that can be used for public works, education funding, and support for democracy (e.g., freedom from totalitarian …show more content…

Self-interest, left unchecked can develop into greed – “a selfish and excessive desire for more of something (such as money) than is needed” (Merriam Webster online, n.d.). However, as long as it’s moderated, I don’t believe self-interest is necessarily a bad thing. Similar to the examples above, one can be motivated by money – but still do good… intentionally. Individuals who seek to make more money honestly in order to support their family and provide a certain standard of living (i.e., a good, comfortable home, education, enriching experiences, etc.), cannot be lumped in with someone who crosses the line into fraud just to have more. It’s also easier to be generous and give to deserving causes with one’s income when one has more it. Conversely, as Martin points out, “when money is the exclusive motive, work usually fails to be intrinsically satisfying” (pg. 24). In fact, Martin (pg. 16) suggests that compartmentalizing either inclination can lead to harmful side effects to

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