Ethical Obligations and Decision-Making in Accounting 2nd Edition by Steven Mintz, Roselyn Morris

Exercise 3

a.Do you think it is the same to act in your own self-interest as it is to act in a selfish way? Why or why not?

b.Do you think “enlightened self-interest” is a contradiction in terms, or is it a valid basis for all actions? Evaluate whether our laissez-faire, free-market economic system does (or should)operate under this philosophy.

Step 1 of 2

a.

Both selfishness and self-interest are egoistic qualities. These qualities compel people to do things for themselves. However, selfish is defined as having a complete lack of consideration for others, whereas, self-interest is to pursue something in one’s interest. One’s interest may include the consideration of others, e.g. doing charity because it feels good.