Arnold Kling contrasts ‘Economic Man’ vs. ‘Status Man’:
Many people think that we should look down on ‘economic man,’ who rationally calculates costs and benefits. They believe that people should have higher motives.Instead, I suspect that the most likely alternative to economic motivation is a worse motive: status-seeking. I believe that is more important to curb our lust for status than our lust for goods and services.
The drive for economic gain helps the individual, and, as Adam Smith famously showed, helps others. Trade and economic growth are positive-sum games, in which there can be winners without losers. Moreover, when people seek economic gains, this is usually transparent. You usually understand when you and others you transact with are trying to improve your economic well-being.
Status, on the other hand, is typically a zero-sum game, in which one person’s gain comes at the expense of others.