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Pursuing self-interest or self-actualization? From capitalism to a steady-state, wisdom economy

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  • Murtaza, Niaz

Abstract

The co-evolution of capitalism, democracy and science since 1800 has led to enormous progress but also major existential problems. This article asserts that these problems are rooted in neo-classical economics' narrow focus within human nature on self-interest, which causes intense conflicts for scarce resources among people, societies, species and generations. It describes how an emphasis on the totality of human nature in life, with a focus on self-actualization instead of self-interest as the main driving force and wisdom rather than wealth as the ultimate aim, can lead to a steady-state, wisdom economy that can simultaneously ensure high personal welfare and collective sustainability.

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  • Murtaza, Niaz, 2011. "Pursuing self-interest or self-actualization? From capitalism to a steady-state, wisdom economy," Ecological Economics, Elsevier, vol. 70(4), pages 577-584, February.
    • Handle: RePEc:eee:ecolec:v:70:y:2011:i:4:p:577-584
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    References listed on IDEAS

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    2. Costanza, Robert & Fisher, Brendan & Ali, Saleem & Beer, Caroline & Bond, Lynne & Boumans, Roelof & Danigelis, Nicholas L. & Dickinson, Jennifer & Elliott, Carolyn & Farley, Joshua & Gayer, Diane Elli, 2007. "Quality of life: An approach integrating opportunities, human needs, and subjective well-being," Ecological Economics, Elsevier, vol. 61(2-3), pages 267-276, March.
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    Cited by:

    1. Matías Membiela-Pollán & María Alló-Pazos & Carlos Pateiro-Rodríguez & Félix Blázquez-Lozano, 2019. "The Inefficiency of the Neoclassical Paradigm in the Promotion of Subjective Well-Being and Socioeconomic, and Environmental Sustainability: An Empirical Test for the Spanish Case," Sustainability, MDPI, vol. 11(24), pages 1-14, December.
    2. Papirakis, Rachel, 2022. "Auditors’ self-actualization and ability to resist client pressure: Evidence from Canada," Journal of International Accounting, Auditing and Taxation, Elsevier, vol. 47(C).
    3. I.V. Mitrofanova & G.I. Starokozheva & E.A. Shkarupa & V.V. Batmanova & I.A. Mitrofanova & A.B. Tlisov, 2016. "Specially Protected Natural Areas Of Regions Of The Southern Federal District Of Russia: Specificity Of Approaches To Management And Conservation," Revista Galega de Economía, University of Santiago de Compostela. Faculty of Economics and Business., vol. 25(3), pages 57-68.
    4. Nhu Tuyên Lê & Marjolijn Bloemmen & Roxana Bobulescu & Claudio Vitari, 2015. "Microeconomic degrowth: The case of Community Supported Agriculture," Post-Print halshs-01923276, HAL.
    5. LaDawn Haglund, 2019. "Human Rights Pathways to Just Sustainabilities," Sustainability, MDPI, vol. 11(12), pages 1-19, June.
    6. Nhu Tuyên Lê & Marjolijn Bloemmen & Roxana Bobulescu & Claudio Vitari, 2015. "Microeconomic degrowth: The case of Community Supported Agriculture," Grenoble Ecole de Management (Post-Print) halshs-01923276, HAL.
    7. Thiermann, Ute B. & Sheate, William R., 2020. "Motivating individuals for social transition: The 2-pathway model and experiential strategies for pro-environmental behaviour," Ecological Economics, Elsevier, vol. 174(C).
    8. Bina, Olivia & Vaz, Sofia Guedes, 2011. "Humans, environment and economies: From vicious relationships to virtuous responsibility," Ecological Economics, Elsevier, vol. 72(C), pages 170-178.
    9. Bloemmen, Marjolijn & Bobulescu, Roxana & Le, Nhu Tuyen & Vitari, Claudio, 2015. "Microeconomic degrowth: The case of Community Supported Agriculture," Ecological Economics, Elsevier, vol. 112(C), pages 110-115.

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