AN OVERVIEW OF HOMO ECONOMICUS
Is Homo Economicus A Psychopath?
Click here to read more -> https://www.forbes.com/sites/peterubel/2014/12/15/is-homo-economicus-a-psychopath/#220a9af71604
Homo Economicus is “the human species in its capability to rationally decide, that is, essentially that people will act in their own best interest when making decisions without moral consideration. One of the characteristics of Homo Economicus is selfishness. For instance, unwilling to give charity as it seems not profitable for them.
( Farooq, Mohammad Omar, Self-Interest, Homo Islamicus and Some Behavioral Assumptions in Islamic Economics and Finance (2011). International Journal of Excellence in Islamic Banking and Finance, Vol. 1, No. 1, pp. 52-79, January 2011. Available at SSRN: https://ssrn.com/abstract=1740729)
Conversely, Homo Islamicus is individuals who is guided by commonly shared Islamic values in his or her decisions. A society with Homo Islamicus participants would act both individually and collectively within the framework.Islam recognizes that every human being has an inherent tendency to maximize material well-being. The ultimate objective is maximization of maslahah .
The main distinction between those two is altruism .
Read further : http://www.hurriyetdailynews.com/homo-islamicus-needed-to-cure-problems-in-modern-economy-business-leader-says-66736
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