All posts tagged: Morality

Introduction to Ethical Egoism

Ethical egoism is the view that each of us ought to pursue our own self-interest, and no-one has any obligation to promote anyone else’s interests. It is thus a normative or prescriptive theory: it is concerned with how we ought to behave. In this respect, ethical egoism is quite different from psychological egoism, the theory that all our actions are ultimately self-interested. Psychological egoism is a purely descriptive theory that purports to describe a basic fact about human nature. ARGUMENTS IN SUPPORT OF ETHICAL EGOISM 1. Everyone pursuing their own self-interest is the best way to promote the general good. This argument was made famous by Bernard Mandeville (1670-1733) in his poem The Fable of the Bees, and by Adam Smith (1723-1790) in his pioneering work on economics, The Wealth of Nations. In a famous passage Smith writes that when individuals single-mindedly pursue “the gratification of their own vain and insatiable desires” they unintentionally, as if “led by an invisible hand,” benefit society as a whole. This happy result comes about because people generally are the …