Egoism comes in two forms: Psychological Egoism and Ethical Egoism. Psychological Egoism is a descriptive theory which contends that every human action is motivated by self-interest. According to Psychological Egoism individuals act only in order to advance their own self-interests.
Ethical Egoism is a prescriptive ethical theory. The theory contends that each person ought to maximally advance his or her own self-interest. The right thing for a person to do is to advance their own interests and Psychological Egoism says that individuals will do so, while Ethical Egoism says that individuals should do so.
A number of criticisms have been launched at Egoism, specifically Ethical Egoism. First, it is not positive to base life or society purely on self-interests. Second, when each individual pursues his or her own self-interests this inevitably leads to personal, social, and political chaos. Third, the theory is flawed in that it contends that the more the individual asserts his or her rights the better off everyone will be. There is something inherently contradictory in this belief. Finally, the theory is simply contrary to common sense and human intuition.
