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Philosophy 2074F/G
Dean Proessel

Psychological Egoism: the thesis that everone is always motivated to act in his or her perceiced self interest -we are psychologically concentreted in a way- self-centrelized, self-directed -everything you do is motivated by the self -opposed to altruism Ethical Egoism: the thesis that one ought to pursue acts which promote one's self- interest or well being -argue that you outght not to be altruism, you only do so if there is something for you(may be pleasure) -argues that all it matters is the self, not the others IS I OUGHT distinction -the distinction from IS and outght -IS: empirical descriptive, -OUGHT: normative , prescriptive of how people are, how people want to be. (it could be not that case ) BUT if you are a moral being, you are actually opposed to egoism, who would not to serve for their own good while hurting other people. Ethic is about the other. -egoism is somehow found in Adam Smith's idea. Self interest in Adam Smith's weath of nations "It is not from the benevidence of the butcher, the brewer or the baker that we expect our dinner, but from regard for their self interest. We address ourselves not to their humanity but to the self-love, and never talk to them of our own necessities but of heir advantages" -We don't talk about other people's necessities, but only about exchange for our own necessities. -if you are the baker, you open the bakery because of self-interest. I am not interest in feeding you, i want your money. -baker VS. Consumer. The consumer is not interest in baker's interest, they are hungery they only want the bread. The baker wants cash, which consumers have. That is why they come together to the market. They both have what the other interested in. -the invisible hand leads to that the market is self regulating. -the market self clears and always goes back to equilibrium--all it happens by it self, all motivated by self-interest Example: Adam Smith -try to mak economy scientific -try to conveice -by referencing his book, they can justify self interest, economy justify itself -the point: business ethics makes economical sense -the market works well when the market participants textbook section 6, page 27; section 4; public good; section 5, page 26, distribution start from:...I am brief ...first the important of business ethics.. Motivation for exchange What is production efficiency distribution efficiency --all related to Adam Smith's points page 21 Ethics are somehow ..... when it comes to business and economics talking about economics, you are also talking about good, public good. -modern economics are not tied with moral , ethics seems lost argue humanity, justice..... -Adam Smith is been misinterpreted ethic-free economic view--misterpretation of Adam Smith Amartya Sen: Did Smith think that economic operation and business activities consist only of exchanges o its kind? Did Smith think that the result would be just as good if the businessses involved, driven by self interest, were to defroud consumers, or the consumers in question were to attempt to sindle the sellers? -motivated by self-interest, just because so you are not to be greedy. It can be regulated by ethics at the same time. -economy is based on people's self interest, but ethics won't hurt the development of modern economy. Absolutely not: Smith's concening the motivation of enchange.... 1 laws of the market 2 Harmony and prosperti of society, welfare of the consumer Free market competition and social unitity -its on owl A person in the market place, motivated by self-interest try to promote his or her own end, but not society's ends -does not benefits the society, does not know how either When you are in the market place, and exchange with other, you ARE benefit the society -the invis
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