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Self-interest maximization: meaning, definitions and examples

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self-interest maximization

[ ˈsɛlf-ˈɪntrəst ˌmæksɪməˈzeɪʃən ]

Noun

^{Context #1 | Noun}

economic theory

The act of individuals or companies pursuing their own interests above all else, often leading to decisions that benefit themselves at the expense of others.

Synonyms

egoism, self-centeredness, selfishness.

Which Synonym Should You Choose?

Word	Description / Examples
self-interest maximization	Used in a more neutral or academic context, often in economics or psychology, to describe behavior focused on increasing one's own benefits. In economics, self-interest maximization is often assumed as a basic premise of human behavior. He approached the negotiation with a strategy of self-interest maximization.
selfishness	Used to describe behavior that is concerned excessively or exclusively with oneself, without regard for others, strongly negative. His decision to take all the credit was seen as sheer selfishness. Selfishness in a team setting can harm group dynamics.
self-centeredness	Used to describe someone who is overly focused on themselves often at the expense of others, typically negative. Her self-centeredness made it difficult for her to maintain friendships. A self-centered attitude can lead to isolation.
egoism	Used in philosophical or ethical discussions to refer to a belief or behavior based on individual self-interest, sometimes with a negative connotation. His actions were driven by egoism, prioritizing his own needs over others. Philosophers debate whether egoism can be reconciled with altruism.

Examples of usage

Many critics argue that self-interest maximization can lead to inequality in society.
Businesses often engage in self-interest maximization by cutting costs to increase profits.

Translations

Translations of the word "self-interest maximization" in other languages:

🇵🇹 maximização do interesse próprio

🇮🇳 स्वार्थ की अधिकतम करना

🇩🇪 Eigeninteressenmaximierung

🇮🇩 maksimalisasi kepentingan diri sendiri

🇺🇦 максимізація власних інтересів

🇵🇱 maksymalizacja interesu własnego

🇯🇵 自己利益の最大化

🇫🇷 maximisation de l'intérêt personnel

🇪🇸 maximización del interés propio

🇹🇷 kişisel çıkar maksimizasyonu

🇰🇷 자기 이익 극대화

🇸🇦 تعظيم المصلحة الذاتية

🇨🇿 maximalizace vlastního zájmu

🇸🇰 maximalizácia vlastného záujmu

🇨🇳 自我利益最大化

🇸🇮 maksimizacija lastnega interesa

🇮🇸 hámarka eiginhagsmuna

🇰🇿 өз мүддесін барынша арттыру

🇬🇪 საკუთარი ინტერესების მაქსიმალიზაცია

🇦🇿 öz mənafeyinin maksimallaşdırılması

🇲🇽 maximización del interés propio

Etymology

The concept of self-interest maximization is rooted in classical economics, particularly in the works of Adam Smith, who believed that individuals pursuing their own self-interest would unintentionally benefit society as a whole. This idea has been debated and critiqued by various economists and philosophers over the years, with some arguing that it can lead to negative consequences such as social inequality and unethical behavior.