Self-interest maximization: meaning, definitions and examples
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self-interest maximization
[ ˈsɛlf-ˈɪntrəst ˌmæksɪməˈzeɪʃən ]
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
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.