Post Tagged 'Philosophical literature'

November 21, 2012

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.” Continue Reading...