Review Essay: Is Homo Economics Extinct?

Philosophy of the Social Sciences 40 (4):603-615 (2010)
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Abstract

The classical view of "rational man" as the unit of analysis for economic behavior and marketplace exchange has been changed by the late twentieth century with the help of behavioral economics that considers predictable irrationality as a normal mode of behavior. Instead of revising neoclassical economics to fit contemporary economic crises, it is recommended to follow Adam Smith's original concerns for the social setting of individual behavior and to treat economic crises with pragmatic flexibility rather than with dogmatic ideology

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Raphael Sassower
University of Colorado, Colorado Springs

References found in this work

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Reconstruction in philosophy.John Dewey - 1923 - Revue de Métaphysique et de Morale 30 (1):10-11.

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