What do you mean by altruism?

Business & Management
#1

Altruism stands for having an empathy to work and help for others. This kind of mindset will the society to flourish in a better way towards the future.
Some economic models go further and relax the traditional assumption of fully rational behaviour by simply assuming that people sometimes behave altruistically, even if this may be against their self-interest. Either way, there is much economic literature about charity, international aid, public spending and redistributive taxation.