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Legalism is a Chinese political philosophy that holds that self-interest underlies human nature and therefore human behavior. [1] It is axiomatic in Legalism that a government can not truly be staffed by upright and trustworthy men of service, because every member of the elite—like any member of society—will pursue their own interests and thus must be employed for their interests. [2]
In contrast to enlightened self-interest is simple greed, or the concept of "unenlightened self-interest", in which it is argued that when most or all persons act according to their own myopic selfishness, the group suffers loss as a result of conflict, decreased efficiency and productivity because of lack of cooperation, and the increased expense each individual pays for the protection of ...
Political accountability is when a politician makes choices on behalf of the people, and the people have the ability to reward or sanction the politician. [13] In representative democracies, citizens delegate power to elected officials through periodic elections, and such officials are empowered to represent or act in the citizens' interest. [13]
The invisible hand is a metaphor inspired by the Scottish economist and moral philosopher Adam Smith that describes the incentives which free markets sometimes create for self-interested people to accidentally act in the public interest, even when this is not something they intended. Smith originally mentioned the term in two specific, but ...
The public interest theory of regulation claims that government regulation acts to protect and benefit the public. [1] The public interest is "the welfare or well-being of the general public" and society. [2] Regulation in this context means the employment of legal instruments (laws and rules) for the implementation of policy objectives.
The other actors commonly include the professions, trade unions and big business. Central departments need their co-operation because British government rarely delivers services itself. It uses other bodies. Also, there are too many groups to consult so government must aggregate interests. It needs the "legitimated" spokespeople for that policy ...
Self-interest and consequentialism fail indirectly, while common-sense morality is directly collectively self-defeating. (So is self-interest, but self-interest is an individual theory.) Parfit showed, using interesting examples and borrowing from Nashian games, that it would often be better for us all if we did not put the welfare of our loved ...
"Corporate governance" may be defined, described or delineated in diverse ways, depending on the writer's purpose. Writers focused on a disciplinary interest or context (such as accounting, finance, law, or management) often adopt narrow definitions that appear purpose-specific. Writers concerned with regulatory policy in relation to corporate ...