what is psychological egoism business ethics
The distinction between psychological egoism and ethical egoism reflects the contrast of is verses ought, fact verses value, or descriptive verses prescriptive.. 1  Psychological egoism is the empirical doctrine that the determining motive of every voluntary action is a desire for one's own welfare. In science, a purported law only needs one disconfirming instance to disprove it. 2  Psychological egoism makes no claim as to how one should act. 3  That all persons seek their self-interest on this theory is a purported fact, and this belief is viewed by the psychological egoist as nonmoral and verifiable.