The economic man is assumed to be an individual who seeks to achieve the greatest utility at the lowest possible cost. Can we then discuss the concept of the "economy of love" (an economy that encourages individuals to consider human and emotional aspects in their economic behavior) as a pursuit of long-term benefits, such as psychological comfort and self-satisfaction? Or is it a departure from economic rationality by accepting additional costs for intangible and non-material benefits in the short term?
An altruistic economy refers to an economic system or framework that emphasizes selflessness, cooperation, and the welfare of others over individual profit and accumulation of wealth. This concept can manifest in various ways, with principles centered around philanthropy, social responsibility, and community well-being:
Cooperation among businesses, including cooperatives and mutual organizations, where profits are shared among members and decisions are made democratically to benefit the collective rather than individual shareholders. Businesses that prioritize social or environmental goals along with financial sustainability. They aim to tackle societal issues, providing goods or services that address community needs while reinvesting profits for social good. Support for fair wages and working conditions for producers, often in developing countries, ensuring that they receive a fair price for their products and that ethical standards are upheld. Companies and individuals who actively engage in charitable giving and invest in community projects, aiming to contribute positively to society while also enhancing their reputations. Focusing on economic growth that meets the needs of the present without compromising the ability of future generations to meet their own needs, often emphasizing ecological preservation and social equity. Supporting local businesses and economies to strengthen community ties and reduce dependence on global supply chains, fostering resilience and sustainability in local communities. The UBI system where all citizens receive a regular, unconditional sum of money from the government, aiming to alleviate poverty and reduce income inequality; also time banking and bartering: encouragement of systems where services are exchanged based on time or goods rather than money, promoting community engagement and mutual aid.
The altruistic economy Seddik Boudouda challenges traditional capitalist models by prioritizing human and environmental well-being over mere profit maximization, arguing that sustainable and ethical practices can lead to healthier societies and economies in the long run.
Stephen I. Ternyik
Thank you for your engagement, sir. The concept of altruistic economics is highly idealistic, which makes it exceptional. Human nature does not inherently lean toward altruism or considering the interests of others. However, if we take Maslow's hierarchy of human needs into account, altruistic spending would only occur at the higher levels of the hierarchy, assuming that social needs could lead humans toward ideal behavior. Today's world is primarily utilitarian, and the voices advocating for human rights, environmental preservation, fair trade, and social responsibility have only emerged after what they demand has reached a stage of loss. Altruistic economics is a goal we should strive to achieve, not a predominant behavior we study and analyze. However, I am not pessimistic. Humanity, though sometimes exhibiting destructive behaviors, includes a virtuous group that works to make a difference. Even if the initial impact seems negligible, the butterfly effect can sometimes succeed.
Dear Seddik Boudouda,
This is a very good question. From the point of view of mating strategy and marital stability, the following can be said:
The conflict between the sexes reflects different sexual strategies, not competition for resources. Both sexes have short-term and long-term mating strategies, and marriage may result from a long-term strategy. Humans are a species with internal female fertilization. One act of sexual intercourse can produce a 9-month pregnancy and 4 years of lactation for a female. This fact renders females more selective than males about mating. Females manifest interest in males who provide the resources to bear their heavy reproductive investment, and males are interested in providing the resources valued by females to have sexual access to them.
For more details on this perspective, see:
https://gwern.net/doc/economics/2021-dasilva.pdf
Adriano Filipe da Silva Maia
Your presentation is worthy of research and reading. I found in your point of view good aspects to explain the consumer behaviors of males and females, and it may have useful implications regarding altruistic consumption, and the difference in tastes and requirements.
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