Enlightened Self Interest - Explained
What is Enlightened Self Interest?
Written by Jason Gordon
Updated at March 26th, 2023
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What is Enlightened Self Interest?
Enlightened Self-Interest is the idea that individuals have regard for their self interest. Individuals must also regard the interests of others to promote their own best interest.
Enlightened Self Interest is a concept put forward by the famed economist Adam Smith. He believed a nation needed to have enlightened self interest to bring about universal prosperity.
Example of Enlightened Self Interest
A butcher promotes his own self interest by selling meat. S/he sells quality meat that meets the needs of customers. By being aware of and meeting the needs of customers, the butcher promotes his own interests.
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Related Topics
- Self Interest
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- Enlightened Self-Interest
- Fisher's Separation Theorem
- Ratchet Effect
- Total Utility (Economics)
- Efficiency Principle
- Expected Utility
- Subjective Theory of Value
- Positional Goods
- Utilitarianism
- Indifference Curve
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- Incentives
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