Ethical egoism contrasts with ethical altruism, which holds that moral agents have an obligation to help others. Egoism and altruism both contrast with ethical utilitarianism, which holds that a moral agent should treat one's self (also known as the subject) with no higher regard than one has for others (as egoism does, by elevating self-interests and "the self" to a status not granted to others). But it also holds that one should not (as altruism does) sacrifice one's own interests to help others' interests, so long as one's own interests (i.e. one's own desires or well-being) are substantially equivalent to the others' interests and well-being. Egoism, utilitarianism, and altruism are all forms of consequentialism, but egoism and altruism contrast with utilitarianism, in that egoism and altruism are both agent-focused forms of consequentialism (i.e. subject-focused or subjective). However, utilitarianism is held to be agent-neutral (i.e. objective and impartial): it does not treat the subject's (i.e. the self's, i.e. the moral "agent's") own interests as being more or less important than the interests, desires, or well-being of others.
Ethical egoism does not, however, require moral agents to harm the interests and well-being of others when making moral deliberation; e.g. what is in an agent's self-interest may be incidentally detrimental, beneficial, or neutral in its effect on others. Individualism allows for others' interest and well-being to be disregarded or not, as long as what is chosen is efficacious in satisfying the self-interest of the agent. Nor does ethical egoism necessarily entail that, in pursuing self-interest, one ought always to do what one wants to do; e.g. in the long term, the fulfillment of short-term desires may prove detrimental to the self. Fleeting pleasure, then, takes a back seat to protracted eudaimonia. In the words of James Rachels, "Ethical egoism ... endorses selfishness, but it doesn't endorse foolishness."
Ethical egoism is often used as the philosophical basis for support of right-libertarianism and individualist anarchism. These are political positions based partly on a belief that individuals should not coercively prevent others from exercising freedom of action.
Ethical egoism can be broadly divided into three categories: individual, personal, and universal. An individual ethical egoist would hold that all people should do whatever benefits "my" (the individual)self-interest; a personal ethical egoist would hold that he or she should act in his or her self-interest, but would make no claims about what anyone else ought to do; a universal ethical egoist would argue that everyone should act in ways that are in their self-interest.