A Cornell economist questions today's pervasive belief that those
who put their material self-interest ahead of moral or emotional
considerations are more successful and rational than those who
don't. Frank agrees that materialistic considerations are
important, but points out that people who make self-sacrifices for
others are not necessarily irrational or doomed to a penurious
existence. In making short-term sacrifices, they avoid painful
feelings of guilt or shame, and they may well lead more successful
lives than out-and-out opportunists. "This idea," he says, "rests
on a simple paradox, namely, that in many situations the conscious
pursuit of self-interest is incompatible with its attainment." He
also points out that every society requires some self-sacrifice,
and wonders whether the current emphasis on the supposed benefits
of self-interest is not eroding the very character traits that
nourished democratic capitalism. Frank produces considerable
evidence (including behavioral research tests) that indicates
Americans value ethical behavior, are more honest than is generally
assumed, and despise unbridled opportunists. He supplies little
evidence, however, to demonstrate that moral behavior is conducive
to material success - although he does mention the value of a good
reputation. Solid food for thought for economists, behavioral
scientists, and more general readers of a philosophical or
scientific bent. (Kirkus Reviews)
The idea rests on a simple paradox, namely, that in many situations
the conscious pursuit of self-interest is incompatible with its
attainment. We are all comfortable with the notion that someone who
strives to be spontaneous can never succeed. So too, on brief
reflection, will it become apparent that someone who always pursues
self-interest is doomed to fail.
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