Business Ethics and Corporate Governance, Second Edition

ETHICAL THEORIES IN RELATION TO BUSINESS

Egoism

 

Fig. 2.1 Classification of Normative Theories

 

‘The view that associates morality with self-interest is referred to as egoism.’¹⁴ Therefore, it can be said that egoism is an ethical theory that treats self-interest as the foundation of morality. Egoism contends that an act is morally right if and only if it best promotes an agent’s (persons, groups or organizations) long-term interests. Egoists make use of their self interest as the measuring rod of their actions. Normally, the tendency is to equate egoism with individual personal interest, but it is equally identified with the interest of ...