As the
economic man erodes the political man, the economic knowledge erodes the
economic man.
On the contrary,
economic man is integrated with the other economic men, by a spontaneous multiplication of interests and not by a transfer of rights" (Lazzarato, 2010, p.
The fundamental problem is that Marcal has created a straw
economic man out of Adam Smith.
2) The 'soul' of this modern
economic man is extreme self-interest, (3) and it is from this self-interest that Homo economicus is inevitably drawn into conflict and competition with others.
This theory of the
economic man began to be criticised in 20th century by a number of neoclassical economists.
Donald Hay and Gordon Menzies echo Henley with their critique of rational choice theory (RCT) and its anthropology, identified as rational
economic man (REM).
By its own assumptions, its advocates must be rent-seeking scholars who believe in and espouse the paradigm of self-interested, rational
economic man because it is in their own self-interest to do so.
From
Economic Man to Economic System: Essays on Human Behaviour and Institutions of Capitalism.
Amartya Sen notes that
economic man is not an idealized decision maker
Western society has given up the belief that man is fundamentally
Economic Man that his motives are economic motives and that his fulfillment lies in economic success and economic rewards.
Replete with accelerating mathematics and with reliance on the rationality of
economic man, it is a methodology that is typically characterized by economists in terms of rigor and science.
Mill, I define the
economic man as an individual who seeks the best opportunities for himself given the range of possibilities.
