HUM1021 Ethics and Values

B.Tech

Sivakumar, R
SMBS, VIT Chennai
 Lecture: 6

Module-2
Social Ethics
Social Consciousness and Responsibility -Individual Interest
Versus Society’s Interest-Ethical and Societal values according
to the Indian and International perspectives- -Understanding
of Justice, Rule of Law, and Democracy. Fundamental duties of
the citizens. Current Social Issues.
Individual Interest
vs
Society’s Interest
Self vs Society’s Interest
 Self-interest is when individuals make decisions that
are in their own best interest
 Like when you decide to get up in the morning to go to
work and make money, or when you pay the grocery
store for food that you would like to eat
 Each individual has self interest
 Each individual supposed to play many roles and
responsibility
 Every individual aspires to seek achievement in his
career
 Interested to be part of gated group
http://www.freeeconhelp.com/2011/06/self-interest-vs-social-interest.html
Self vs Society’s Interest
 Social interest is when choices are made that benefit
society as a whole
 Imagine one person, who is all knowing and really cares
about the people. Every action this benevolent dictator
made would be in the social interest of the society
 The cool thing about social interest is that it can also be
attained by individual decision makers acting in their
own self-interest. This process is what Adam smith
(economist wrote the book The Wealth of Nations)
called the invisible hand

http://www.freeeconhelp.com/2011/06/self-interest-vs-social-interest.html
Self vs Society’s Interest

http://www.freeeconhelp.com/2011/06/self-interest-vs-social-interest.html
Self vs Society’s Interest
 When individuals act in their self-interest, they go to
work and buy things because it makes them happy
 But by working and purchases things, they are also
contributing to society and the social interest
 Think about the creators of Facebook, they acted in
their own self-interest creating it for profit. However,
in the process, we all benefited from the increased
networking and communication with friends
 Thus individuals acting in self-interest can lead to
optimal social interest outcomes, just like if a
benevolent dictator was in charge

http://www.freeeconhelp.com/2011/06/self-interest-vs-social-interest.html
Self vs Society’s Interest
 Self Interest is the motivator of economic activity
 Why do you go to work? Why do you go to school?
 Because you are self-interested
 To be self-interested simply means that you seek your
own personal gain
 You go to work because you want to get paid so you
can buy the things you want
 You go to school so you can get a better job someday
and earn more money to buy the things you want. In
fact, most of the economic activity we see around us is
the result of self-interested behavior
https://www.stlouisfed.org/education/economic-lowdown-podcast-series/episode-3-the-role-of-self-interest-and-competition-in-a-market-economy
Self vs Society’s Interest
 Self Interest is the motivator of economic activity
More than 250 years ago, Adam Smith
described it this way in his book, The
Wealth of Nations:

“It is not from the benevolence

(kindness) of the butcher, the
brewer, or the baker, that we
expect our dinner, but from their
regard to their own interest”

 Self Interest produces behaviour

that benefits others

https://www.stlouisfed.org/education/economic-lowdown-podcast-series/episode-3-the-role-of-self-interest-and-competition-in-a-market-economy
Self vs Society’s Interest
 Is being self-interested greedy? Is it immoral?
 While the term self-interest has negative connotations,
it does not necessarily imply greedy or immoral
behavior
 Self-interest just means that you seek your goals.
In fact, your self-interest might lead you to study hard
for your math test, give money to your favorite charity
or volunteer at a local school

http://www.qcc.cuny.edu/SocialSciences/ppecorino/INTRO_TEXT/Chapter%2010%20Political%20Philosophy/Group_vs_Individual_Interest.htm
Self vs Society’s Interest
 In any society there is a natural tension between the
interests of individuals and the interest of the group
as a whole
 There is a conflict between what individuals want and
what serves their interests and what is needed for the
welfare, safety and security of the entire group
 Government needs to moderate that conflict
 Depending on the type of view that is operative
concerning the nature of the social arrangement and
the nature of government, the conflict will be resolved
in favor of one or the other sets of interests

http://www.qcc.cuny.edu/SocialSciences/ppecorino/INTRO_TEXT/Chapter%2010%20Political%20Philosophy/Group_vs_Individual_Interest.htm
Self vs Society’s Interest - Examples
 Individuals may believe that they have the right to
smoke tobacco. The group or society as a whole has an
interest in preserving its heath and well being
 How is the conflict to be resolved?
 In different societies there are different resolutions. In
those favoring individualism there may be a great
amount of freedom and a great reluctance on the part
of government to restrict the liberties of individuals
even when they are placing the welfare of others in
jeopardy

http://www.qcc.cuny.edu/SocialSciences/ppecorino/INTRO_TEXT/Chapter%2010%20Political%20Philosophy/Group_vs_Individual_Interest.htm
Self vs Society’s Interest - Examples
 Individuals may believe that they have the right to
smoke tobacco. The group or society as a whole has an
interest in preserving its heath and well being
 How is the conflict to be resolved?
 In other societies that favor the common good over
that of individuals there is less reluctance on the part
of that government to intervene in the personal lives of
individuals in order to preserve the common welfare
and provide for the common good

http://www.qcc.cuny.edu/SocialSciences/ppecorino/INTRO_TEXT/Chapter%2010%20Political%20Philosophy/Group_vs_Individual_Interest.htm
Self vs Society’s Interest - Examples
 Individuals have an interest in preserving their earnings
and using them as they see fit
 In most countries the government takes a portion of
those earnings through taxation and distributes the
goods and services purchased with those funds as the
government thinks best to provide for the more general
good

http://www.qcc.cuny.edu/SocialSciences/ppecorino/INTRO_TEXT/Chapter%2010%20Political%20Philosophy/Group_vs_Individual_Interest.htm
Self vs Society’s Interest - Examples
 Individuals may want to ride in their automobiles
without wearing a seat belt
 Society acts to protect itself from foolish behavior that
threatens the common welfare
 Government enacts laws requiring the use of seatbelts
in order to reduce the number of accidents in which
the drivers are injured and become so impaired that
society must provide for their medical and physical care
for the rest of their lives

http://www.qcc.cuny.edu/SocialSciences/ppecorino/INTRO_TEXT/Chapter%2010%20Political%20Philosophy/Group_vs_Individual_Interest.htm
Self vs Society’s Interest - Examples
 Individuals have an interest in self-protection, sporting
pleasure, or hunting and so want to have guns and
handguns
 Society has an interest in reducing injuries and deaths
caused by the use of such devices as weapons involved
in crimes or accidents
 In some countries government has acted for the
common welfare and has prohibited private ownership
of such devices

http://www.qcc.cuny.edu/SocialSciences/ppecorino/INTRO_TEXT/Chapter%2010%20Political%20Philosophy/Group_vs_Individual_Interest.htm
Self vs Society’s Interest
 A great problem facing the world at this time that
involves the conflict between individual and group
interests is the growing enormity of the inequality in
wealth and income
 Ideas concerning distributive justice and forms of
government that would provide for such justice will be
involved in the settlement of this conflict

http://www.qcc.cuny.edu/SocialSciences/ppecorino/INTRO_TEXT/Chapter%2010%20Political%20Philosophy/Group_vs_Individual_Interest.htm