Self-Interest and Rationality: Introduction

Ayman Reda
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Ayman Reda: The University of Michigan - Dearborn

Chapter Chapter 18 in Prophecy, Piety, and Profits, 2018, pp 259-261 from Palgrave Macmillan

Abstract: Abstract Scholars have constantly debated the question of human nature and the forces that direct human action. The debate has comprised two distinct paradigms: the view that human action is primarily driven by considerations of self-interestself-interestself-interest , or the view that humans possess a benevolent nature that is attentive to the interests of others. An intellectual history of self-interest will naturally lead to a discussion of rationalityrationalityrationality , a concept that has gained singular predominance in modern social and economic thought. Part 4 examines the position of Islamic thought within this broader debate in the history of ideas. Specifically, we examine the Islamic position on the “invisible handinvisible handinvisible hand ” thesis and the relationship between private and public interests. We also survey its position with regards to efficiency, maximization, and economic rationality.

Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:pal:psibcp:978-1-137-56825-0_18

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DOI: 10.1057/978-1-137-56825-0_18

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