Acton Institute Powerblog Archives

Post Tagged 'Philosophical literature'

Acton Commentary: Sacrifice and Self-Interest

In this week’s Acton Commentary, I take a look at the relationship between sacrifice and self-interest. One of the common complaints against market economies is that they foster selfishness. But as Paul Heyne points out, it is crucially important to distinguish between self-interest and selfishness: “Many of the most eminent and sophisticated theorists in the economics profession make no effort to distinguish between self-interest and selfishness or between rational behavior and greedy behavior.” The failure to make such a distinction leads to some pretty strange conclusions about the motivations behind human behavior. Continue Reading...