Episode 43 – Self-Interest (Podcast)

Individuals act on self-interest. No, that doesn’t mean that people are only motivated by selfish materialism. It comes down to an understanding that actions made today will have consequences tomorrow. Those decisions drive our economy. They are based on the best choices someone can make today, which will provide the best future for themselves and their loved ones. So where do charity and altruism fit into that economic worldview? Nobel laureate Dr. Gary Becker says they play into each other more than people think, but an important distinction should be made, “Even a bunch of selfish individuals, under appropriate circumstances, …