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Economic, Socio-Economic and Moral-Economic Approaches to Altruism

In: Ethical Issues in Economics

Author

Listed:
  • M. Teresa Lunati

    (Bolton Institute)

Abstract

Economic theory has long ignored or even denied the existence of altruism, and in fact, following Adam Smith, it postulates that individual behaviour is strictly motivated by self-interest. Homo economicus or ‘rational economic man’ is, notoriously, a selfish, rational, utility maximizer who acts in isolation and lives in a Hobbesian-type state of nature.

Suggested Citation

  • M. Teresa Lunati, 1997. "Economic, Socio-Economic and Moral-Economic Approaches to Altruism," Palgrave Macmillan Books, in: Ethical Issues in Economics, chapter 2, pages 20-30, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-37358-7_3
    DOI: 10.1057/9780230373587_3
    as

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