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Maslow’s hierarchy of needs is a conceptualisation of the needs (or goals) that motivate human behaviour, which was proposed by the American psychologist Abraham Maslow. [ 1 ] [ 2 ] According to Maslow’s original formulation, there are five sets of basic needs that are related to each other in a hierarchy of prepotency (or strength).
In Motivation and Personality, [1] Maslow argues that, in order for individuals to thrive and excel, a health-fostering culture must be created. [5] Maslow is among the psychological theorists who believe that when parents fail to provide a safe, nurturing environment, their children will develop deep feelings of insecurity. [ 6 ]
English: Pyramid showing Maslow's hierarchy of needs. Español: La pirámide de la jerarquía de necesidades de Maslow. Desde abajo hacia arriba: fisiológicas, seguridad, amor/pertenencia, estima, autorrealización .
Maslow had an optimistic and humanistic view of humanity. [7] He regarded people's innate drive towards self-actualization beneficial to society as a whole. [ 8 ] In Maslow's view, once people's basic needs were met, they were free to explore their abilities and strive to further develop those innate abilities. [ 8 ]
Hence, for Maslow transcendence is not so much an extension of his original pyramid as an orthogonal dimension. Theory X, Y and Z all play a role in how a company should manage successfully. Maslow believed the ideal organization would harness the human drive for self-transcendence, as well as the motivations of his original pyramid.
Maslow's hierarchy of needs consists of physiological needs (lowest level), safety needs, love needs, esteem needs, and self-actualization (highest level). [3] According to Maslow, a human is motivated by the level they have not yet reached, and self-actualization cannot be met until each of the lower levels has been fulfilled. [ 4 ]
Self-actualization, in Maslow's hierarchy of needs, is the highest personal aspirational human need in the hierarchy.It represents where one's potential is fully realized after more basic needs, such as for the body and the ego, have been fulfilled.
The adaptive market hypothesis, as proposed by Andrew Lo, [1] is an attempt to reconcile economic theories based on the efficient market hypothesis (which implies that markets are efficient) with behavioral economics, by applying the principles of evolution to financial interactions: competition, adaptation, and natural selection. [2]