Tag: self-interest
-
Self-Interest and Benevolence: Partners, not Antonyms (Part 2)
[Link to Part 1] Scarcity and Abundance I ended the previous post by noting that the free and virtuous pursuit of self-interest is essential to just economic production and human flourishing, but I also noted self-interest alone is insufficient. We will deal with the latter qualification in time, but first, we must look at economic…
-
Self-Interest and Benevolence: Partners, not Antonyms (Part 1)
Self-Interest vs. Selfishness Benevolence is a central theme of Christian ethics. Giving is considered one of the highest virtues. The antithesis of benevolence is selfishness. A central element of market economies is self-interest. Therefore, market economics is antithetical to Christian living, right? This is the logic presented by many Christian social justice advocates looking for…
-
Benevolence vs. Free Market
The following is an interesting passage from David Cowan's book Economic Parables: The Monetary Teachings of Jesus Christ. The gospel is a gift given to us – something that is precious but yet costs us no money – which leads us to ask whether it thus subverts the human economy. At the risk of deconstructing…
-
Self Interest and Selfishness
Adam Smith's Lost Legacy: Self Interest and Selfishness … [Adam] Smith had a fine sense of history and he knew the difference between self interest and selfishness. In fact, he gives over 70 other instances in the Books I, II, and III of Wealth Of Nations where individuals exercising their the self interest had consequences…
-
The Role of Self-Interest in Christian Ethics
The role self-interest plays in ethical decisions has been a subject we have repeatedly visited here at Kruse Kronicle (especially regarding economic issues.) See here for an example. Self-interest is not selfishness. When we teach our children to look both ways before crossing the street or to eat their vegetables, we teach them to be…
-
Economic Fallacies: “Capitalism Based on Greed”
The "Capitalism Based on Greed" fallacy says that greed and selfishness are inherent in capitalism. The assertion that capitalism is based on greed and selfishness is one of the most common fallacies. This fallacy has many layers, but we must first acknowledge that greed exists within capitalism, just as it does in every economic system!…
-
Capitalism, Adam Smith and the Sentiments
One of the most persistent errors repeated about capitalism is that capitalism is based on greed. Are there greedy, selfish people who use capitalism to their advantage? You bet! Greed and selfishness are part of the human condition and will be reflected in any economic system. This is not the question. The question is whether…
-
Theology and Economics: Self Interest
One of the most frequently propagated economic myths is that free market capitalism is founded on selfishness or greed. I can't count the number of commentators and teachers saying Adam Smith based his economic thinking on selfishness. As we all know, selfishness is anathema to the Christian life. Therefore, we should condemn, or at least…