Natural selection and bounded rationality: the implications for rational egoism

Natural selection theorists suggest that the characteristics that result in the greatest advantage to an organism are retained whilst those that do not, are naturally rejected, overtime. It is argued that organisms are naturally egoistic and programmed to behave in ways that advance their long-term interests. A large body of literature (e.g., Simon, 1955) suggests that individuals have bounded rationality, whereby it is argued that they are incapable of behaving perfectly egoistically. They can, at times, behave irrationally. However, individuals have volition - they can choose whether to behave rationally or otherwise. It is further suggested that when people apply various rational egoistic virtues, they are not only more likely to behave rationally, they are also more successful (Woiceshyn, 2009). Given that rational egoistic behaviours tend to lead to economic success, using natural selection theory, rational egoistic behaviours should become the norm in society, overtime.