> Only if you define local interest as purely financially motivated <...> social status is not only dependent on wealth

For an awful lot of people, it basically is - I mean, practically the entire field of finance and professional management would look at the example I gave and say, "that's exactly the right thing to do." Mitt Romney's entire professional career follows that principle, and it's largely seen as a net positive to his political career (as a Republican).

I agree with you, I think it's an enormously damaging philosophy, both to the bearer and to the rest of us, but again, it may be locally optimal.