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

Niaz Murtaza

Ecological Economics, 2011, vol. 70, issue 4, pages 577-584

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.

Keywords: Self-actualization; Economic; systems; Self-interest; Wisdom; economy (search for similar items in EconPapers)
Date: 2011
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