Definitions and words have many misconceptions. Everyone views things differently. People of different races, age, sex, and religion may think differently than I would. Disagreements are common to encounter and stereotyping plays a huge role. One word that interest me the most is self-interest. While everyone has a different point of view on this word, I believe self-interest means more than what the dictionary states.
When I think of self-interest, the first thing that comes to mind is one's happiness in doing whatever they desire. Ever since I've started taking an economics class this semester, this word has been a topic for discussion. After every class discussion, my interest in knowing more about the word grew. Self-Interest is a complex word and its meanings are broad. From an economist point of view, the word means " one's desire could prosper all." I never thought anybody's self-interest could benefit others.
Although an economist might be correct about the word from their point of view, from my perceptive I could see it both ways. If someone is happy it does not mean everyone else is. People live different life styles compared to others. If bill gates is happy that does not mean I am happy. If Microsoft is doing well, then I prosper from that. Since I use Microsoft word for academic purposes, if the company starts to fall apart then I, the consumer is not happy. If the product is doing well then I am happy because I could prosper academically. Another thing to think about is when Microsoft is doing well Bill Gates has money. That could provide jobs for others to help put the best product out to keep the consumer happy.
Self-interest promotes competition. Author of the article Capitalism's' in Crisis, Jeffery Schaccs, (p2) says "self-interest is a controversial word." He claims inside the article that the word is linked to "greed." I do not agree with that statement. The reason why is because I believe that a persons self-interest is their own...
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