Pursuing self-interest or self-actualization? From capitalism to a steady-state, wisdom economy

The co-evolution of capitalism, democracy and science since 1800 has led to enormous progress but also major existential problems. This article asserts that these problems are rooted in neo-classical economicsʹ narrow focus within human nature on self-interest, which causes intense conflicts for scarce resources among people, societies, species and generations. It describes how an emphasis on the totality of human nature in life, with a focus on self-actualization instead of self-interest as the main driving force and wisdom rather than wealth as the ultimate aim, can lead to a steady-state, wisdom economy that can simultaneously ensure high personal welfare and collective sustainability.