Few students studying economics question the presence of this homo economicus/rational man. Those who do are told this is how economics has always been and not to waste time on it and instead think of bigger questions. But how does one move to bigger questions when answers to all questions begin from assuming this rational person?
Ryan McMaken looks at this issue and says if we look at history of thought, there is no reason why we should assume this rational being:
In the minds of the left-wing market critics such as Brown and Monbiot, the whole market system relies on an imposed view of human nature to make it work. The anti-capitalist fable goes like this: once upon a time, all human beings recognized that humanity was naturally community-minded and motivated by pursuits other than monetary profits. But then came the economists who created a new “normative,” “hegemonic,” and “imposed” world…
View original post 302 more words
Utopia, you are standing in it! 
Recent Comments