Self-interest is not myopic selfishness. It is whatever it is that interests the participants, whatever they value, whatever goals they pursue. The scientist seeking to advance the frontiers of his discipline, the missionary seeking to convert infidels to the true faith, the philanthropist seeking to bring comfort to the needy - all are pursuing their interests, as they see them, as they judge them by their own values. Milton Friedman
About This Quote

The term “self-interest” is often misunderstood, being assumed to have a negative connotation. In fact, it is a very positive concept. The term “self-interest” is a shorthand for the idea that people should pursue their own self-interests as a way of thinking about their goals and values. When people pursue their self-interests, they become more effective at achieving their goals, whether that is to live a better life or to achieve success in some area of life. Achieving goals becomes easier when you think about your goals in terms of your own self-interests.

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More Quotes By Milton Friedman
  1. A society that puts equality before freedom will get neither. A society that puts freedom before equality will get a high degree of both.
  2. I think that nothing is so important for freedom as recognizing in the law each individual’s natural right to property, and giving individuals a sense that they own something that they’re responsible for, that they have control over, and that they can dispose of.
  3. Self-interest is not myopic selfishness. It is whatever it is that interests the participants, whatever they value, whatever goals they pursue. The scientist seeking to advance the frontiers of his discipline, the missionary seeking to convert infidels to the true faith, the philanthropist seeking to...
  4. The ICC [Interstate Commerce Commission] illustrates what might be called the natural history of government intervention. A real or fancied evil leads to demands to do something about it. A political coalition forms consisting of sincere, high-minded reformers and equally sincere interested parties. The incompatible...
  5. For example, the supporters of tariffs treat it as self-evident that the creation of jobs is a desirable end, in and of itself, regardless of what the persons employed do. That is clearly wrong. If all we want are jobs, we can create any number--for...
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