Human nature in the economic behavior based on the neoclassical economic model
We will approach in this article the question of human nature in economics. The traditional homo oeconomicus, as presented in mainstream economics, seems to represent the model of a perfect economic individual. We will question whether the fundamental coordinates of homo oeconomicus, rationality, se...
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| Format: | Article |
| Language: | English |
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General Association of Economists from Romania
2016-12-01
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| Series: | Theoretical and Applied Economics |
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| Online Access: |
http://store.ectap.ro/articole/1233.pdf
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| Summary: | We will approach in this article the question of human nature in economics. The
traditional homo oeconomicus, as presented in mainstream economics, seems to represent
the model of a perfect economic individual. We will question whether the fundamental
coordinates of homo oeconomicus, rationality, self-interest and selfishness, capture the
essence of human beings and if there is an universal human nature. We propose a more
flexible portrait of the economic individual, with insights from recent psychological
research, and we suggest that it is society which shapes human nature and character. There
is no fixed or inherited human nature. An environment of inequalities makes the individual
act in a selfish and utilitarian way, while a more fair social organization would make
individuals altruistic and more cooperative. Values are also missing from the traditional
portrait of homo oeconomicus. Human beings do not simply and always pursuit
optimization, but choose often guided by ethical considerations beyond utility calculus. |
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| ISSN: | 1841-8678 1844-0029 |