Comment
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Description
While the most conspicuous departures from self-interest in economic transactions are no doubt caused by folly rather than by altruism, some form of consideration for the welfare of others certainly plays a significant role in economic life. I shall discuss three kinds of cases: (1) The contribution of support to an institution or practice from which the contributor benefits, even though his benefit is not contingent on his contribution; (2) the attempt to pursue and avoid certain causal relations between one's own welfare and that of others; (3) the inclusion of altruistic motives within the scope of a service offered for sale. I shall close (4) with some remarks about the generality of altruism and the factors that restrict its operation.
Source Publication
Altruism, Morality, and Economic Theory
Source Editors/Authors
Edmund S. Phelps
Publication Date
1975
Recommended Citation
Nagel, Thomas, "Comment" (1975). Faculty Chapters. 1327.
https://gretchen.law.nyu.edu/fac-chapt/1327
