Skip to main content

Love thy neighbor economics.


There is a religious principle: Love thy neighbour as thyself. But it's also an economic asset. In the words of Adams Smith, “How selfish soever man may be supposed, there are evidently some principles in his nature, which interest him in the fortune of others and render their happiness necessary to him, though he derives nothing from it except the pleasure of seeing it.”

What does it mean to “love your neighbour as yourself?” We all naturally love ourselves, St. Augustine pointed out. The purpose of the two great commandments (“You shall love…God with all your heart” and “love your neighbour as yourself”) He started from Aristotle’s definition of love: willing some good to some person. (When I say, “I love ice cream,” I really mean that I love myself and use the word CONSUME the ice cream to express that love.) Because it‘s always possible to avoid depriving others of their goods, doing so is both the bare minimum of love and the measure of what Aristotle called justice in exchange. But when scarce goods (like time and money) are involved, St. Augustine noted, loving your neighbour as yourself can’t always mean equally with yourself: “Since you cannot do good to all, you are to pay special regard to those who, by the accidents of time, place, or circumstances, are brought into closer connection with you.”

In this light, here is the big question. Are people simply compassionate or are there other motives that explain why we behave prosocially? Numerous studies from psychology, the social sciences and more recently, economics, attempt to answer this and other, similar questions which refer to other-regarding attitudes and behavior.

Individuals’ religion has always had a prominent role in this 21 century. This is unsurprising given that versions of the Golden Rule, “Do unto others as you would have others do unto you,” can be found in all major religions. It is therefore a straightforward assumption that religious individuals should be more inclined to behave in a prosocial way.

Comments

Popular posts from this blog

Falling Oil Prices: LCCI Advises FG To Cut Spending On Refreshments, Sitting Allowance To Save Nigeria’s Economy

The Lagos Chamber of Commerce and Industry (LCCI) has called on the Federal Government to put drastic economic measures in place, in order to help the country cushion the effect of falling crude oil prices. The chamber suggested further scrutiny in the way public funds are spent. In a statement by its President, Alhaji Remi Bello, the LCCI commended the Federal Government for the fiscal and monetary policy measures taken so far to stabilise the macroeconomic conditions and minimise dislocations. It however asked that some very important additional measures be taken. The chamber noted that there are several budget heads that need serious scrutiny, such as, consolidated revenue fund charges, service wide votes and presidential amnesty programmes. According to Bello, others are: capital supplementation, debt service, refreshments and meals, foodstuffs and catering, honorarium and sitting allowance, welfare packages, as well as repairs and maintenance. “All these budget heads ha...

Season Greetings From The Mandate Health Empowerment Initiative (MHEI)

Merry Christmas and a blissful mentally healthy new year great minds! Please if you are interested in humanitarian, community service Join The Mandate Health Empowerment Initiative Volunteer Team! As we engage Africa in Mental Health Literacy, Psychosocial Support Campaign and Prevent Drugs and Substance Dependency across all sectors! There are more people living with mental illness than people living with HIV AIDS!  Be Involved www.mhfnigeria.org  www.facebook.com/mhf2015 @infomhei just drop a line message of interest. God bless you

All The Winners At The 2014 Headies Awards

The Headies awards 2014 wrapped up a few hours ago at the Eko Hotel in Lagos and Olamide, Davido and Patoranking were stars of the night earning 2 awards each. The Mavin crew would be happy on the night as Don Jazzy snapped up the producer of the year, and his team grabbed the pop single of the year with Dorobucci. It didn’t end there for the Mavins as their new act, Reekado Banks snatched the rookie of the year and deservedly so. The night also featured some great performances. See the complete list of winners below; Best R&B Single – Let Somebody Love You by 2face Idibia. Best Pop Single – Dorobucci by The Mavins Best Rap Single – Parcel by Phyno Best Street Hop – Double Wahala by Oritsefemi Best Vocal Performance (Male) – Iyawo Mi by Timi Dakolo Best R&B/Pop Album – The Journey by Sean Tizzle Best Vocal Performance (Female) – Love To Love You by Niyola. Best Rap Album – Baddest Guy Ever Liveth by Olamide. Best Reggae/Dancehall – Girlie O by Pator...