Ethical egoism is the belief that any moral decision should be
based on one's own self interest. An egoist only views something to
be good if he possesses it. This leads to a strong sense of self
preservation and ensures the person will not take chances to put
himself in harm's way. The problem with it is that if everyone
lived like this, society could eventually lead to a state where no
one trusted anyone and it could be the downfall of society.