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Egoism

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Business Ethics

Definition

Egoism is the ethical view that individuals should act in their own self-interest, prioritizing their own needs and desires over the needs of others. It is the belief that the pursuit of one's own well-being should be the primary motivation for moral decision-making.

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5 Must Know Facts For Your Next Test

  1. Egoism holds that individuals should always act to maximize their own self-interest, even if it comes at the expense of others.
  2. Proponents of egoism argue that self-interest is the ultimate moral good and that altruism or concern for others is ultimately self-defeating.
  3. Egoism can be contrasted with ethical theories that prioritize the well-being of all individuals, such as utilitarianism and deontology.
  4. Ethical egoism is distinct from psychological egoism, which is the view that all human behavior is ultimately motivated by self-interest.
  5. Egoism has been criticized for failing to account for the moral value of altruism, empathy, and concern for the well-being of others.

Review Questions

  • How does egoism differ from other ethical frameworks, such as utilitarianism and deontology?
    • Egoism differs from other ethical frameworks in its primary focus on the individual's self-interest as the sole basis for moral decision-making. Unlike utilitarianism, which seeks to maximize the overall well-being of all individuals, egoism holds that individuals should always act to maximize their own personal interests, even if it comes at the expense of others. And unlike deontological ethics, which judges the morality of an action based on its adherence to moral rules or duties, egoism evaluates the morality of an action solely based on whether it serves the individual's own interests.
  • Analyze the potential strengths and weaknesses of an egoist approach to ethical decision-making.
    • A potential strength of egoism is that it provides a clear and consistent decision-making framework centered on the individual's self-interest. This can lead to decisive and self-assured actions, as the egoist need not grapple with competing moral considerations or the needs of others. However, a key weakness of egoism is that it fails to account for the moral value of altruism, empathy, and concern for the well-being of others. An egoist approach may lead to actions that benefit the individual but cause significant harm or neglect to others. This disregard for the interests of the broader community can undermine social cohesion and lead to negative consequences for both the individual and society as a whole.
  • Evaluate the role of egoism in the context of 11.2 Committing to an Ethical View, and discuss how it might influence an individual's approach to moral decision-making.
    • In the context of 11.2 Committing to an Ethical View, egoism represents a fundamental challenge to the idea of adopting a consistent ethical framework that goes beyond individual self-interest. An egoist approach would reject the notion of committing to a broader ethical view that considers the interests of others, instead holding that the individual's own needs and desires should be the sole basis for moral decision-making. This could lead the egoist to dismiss or disregard ethical principles that call for self-sacrifice, altruism, or a concern for the greater good. However, such an approach may also be seen as overly simplistic and fail to account for the complex web of social and moral obligations that individuals often face. Ultimately, the egoist's unwillingness to commit to an ethical view beyond their own self-interest could undermine their ability to navigate the nuanced ethical dilemmas encountered in real-world situations.

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