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Psychological egoism is the view that all persons, without exception, seek their own self-interest. Ethical egoism is the view that recognizes that perhaps not all persons seek their own self-interest but all should do so.

ESSAY WRITTEN AFTER READING MAGIC RING ANALOGY (SHEPHARD WHO FINDS A MAGIC RING THAT MAKES HIM INVISIBLE, USING IT TO RISE IN POWER TO GET THE KINGS DAUGHTER’S HAND IN MARRIAGE).

  I think it supports both points of view. The first speaker seems to be stating that all men are either just or unjust by choosing for their own self-interested goals. That the acts of an unjust man, are done because he is seeking in his own self-interest, to do other then good. That he seeks the appearance of being just, so that he can be unjust to others for his own ends. The Shepard in the story who descended to find the ring was at first a just man, but once he had the proper tool, chose to become an unjust man. Choosing to me implies two things. First, that a person is seeking something in his own interest, and second, that his self-interest in this case was directed by psychological hedonism.

 Following this line of thought, Psychological hedonism shows that the ring gave the man the means to follow acts that led to his own self-interest for pleasure by becoming the King. The reason that this was important to the man was that by being king he could be rich and marry the daughter of the king which led to greater pleasure in his life.  He was a shepherd also because it was in his own self-interest to have a job, eat, and live, and this provided him with the most pleasure he could attain at that level.

 The second speaker seemed to point out ethical egoism was the main premise of his thoughts. He states that a just man must choose to act like a just man in all his actions. But that if he chose not to do just acts then he would be an unjust man. Ethical egoism states a man should choose to act in his own self-interest. The second speaker seems to me, to be saying that if you want to be a just man, then it is your best self-interest to be just. While others may choose not to be just, then they would not be considered a just man. Thus to be a just man, one must have a self-interest to become one, which is the right thing to do according to ethical egoism.

The Philosopher is 

Here in spirit.