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It is commonplace to note that the Homo economicus model, so defi ned, does not accurately describe human agents. Like Homo economicus, we have preferences. Unlike Homo economicus, we have preferences directly relating to the welfare of others. Some may regard this as controversial. Psychological egoism is the thesis that all human behavior is purely self-regarding. Responding to obvious counterexamples, defenders of psychological egoism sometimes say we act in apparently other-regarding ways only because we reap “psychic” rewards from helping others. As philosophers well know, psychological egoism thus embellished becomes airtight at a cost of becoming literally inconsequential. It does not tell us that soldiers will never give their lives for their countries or that people will never make anonymous donations to charity. It does not predict that Ebenezer Scrooge will never buy Bob Cratchit a Christmas turkey. It offers no testable predictions. Instead, it avoids having false implications by having no implications whatsoever. It merely expresses a determination to stretch the concept of self-regard as far as necessary to fi t all behavior, no matter how diverse observed behavior actually turns out to be.
Insofar as there is any real content to the claim that we get psychic rewards from helping others, we can admit that, of course, we tend to feel good about helping others. But this fact does not begin to suggest that our real objective is psychic benefit rather than other people’s welfare. On the contrary, there can be no psychic reward for helping others unless we care about others. Imagine Bob helping someone across the street and then saying to her, “Other things equal, I would rather you had been hit by a bus. Unfortunately, helping you is the price I have to pay in order to reap psychic rewards.” The fact that we get psychic rewards from helping others proves we are directly concerned with the welfare of others. The mark of a purely self-regarding person is not that he really wants to help others but rather that he really doesn’t. That is the obvious and much celebrated difference between Homo economicus and us.
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