Milton Friedman on Self Interest

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Moral values in social relations focus on respecting the dignity and individuality of others, treating them with their own rights. The difference in self-interest determinants can be seen in the example of foremen in the United States and Russia.

Insights

  • Individuals should respect the dignity and individuality of others, treating them as individuals with their rights and values, not as objects for manipulation.
  • The distinction in moral values regarding social relations lies in what determines self-interest; this is exemplified by the differing behaviors of foremen in the United States and Russia, showcasing the impact of cultural norms on individual actions.

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Recent questions

  • What are the two divisions of moral values concerning relations between people?

    Personal conduct and societal interactions.

  • What is the core value in social relations?

    Respecting the dignity and individuality of others.

  • How do individuals in all systems act based on?

    Self-interest.

  • What determines self-interest in different systems?

    The values and principles guiding individuals.

  • What is the difference in self-interest between foremen in the United States and Russia?

    What determines self-interest.

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Summary

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Respecting Dignity in Social Interactions

  • Moral values concerning relations between people are divided into personal conduct and societal interactions. The core value in social relations is respecting the dignity and individuality of others, treating them as individuals with their own rights and values, not as objects to be manipulated. In all systems, individuals act based on self-interest, but the difference lies in what determines that self-interest, as seen in the example of foremen in the United States and Russia.
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