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

M. Teresa Lunati
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M. Teresa Lunati: Bolton Institute

Chapter 2 in Ethical Issues in Economics, 1997, pp 20-30 from Palgrave Macmillan

Abstract: 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.

Keywords: Neoclassical Economist; Moral Preference; Homo Economicus; Altruistic Preference; Endogenous Preference (search for similar items in EconPapers)
Date: 1997
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-37358-7_3

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DOI: 10.1057/9780230373587_3

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