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Beyond the Notion of Rationality, Economics as a Moral Science

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  • Patrick MARDELLAT

Abstract

The centrality of the notion of rationality in economic science makes it a privileged key access to it. This situation explains that it is the stake of an important part of the efforts to the reconstruction of economic science. Attempting to enrich the notion of instrumental rationality by the one of cognitive rationality, the so-called "cognitive turn", is one of the most remarkable in the developments of contemporary theory. This article shows that those developments must be understood at the starting point of epistemic walrassian choices, without managing to go beyond them. Therefore, it is necessary to go beyond and to rely on hermeneutic conception of economics as a moral science, in the wake of Menger and Weber.

Suggested Citation

  • Patrick MARDELLAT, 2006. "Beyond the Notion of Rationality, Economics as a Moral Science," Cahiers d’économie politique / Papers in Political Economy, L'Harmattan, issue 50, pages 27-58.
    • Handle: RePEc:cpo:journl:y:2006:i:50:p:27-58
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    JEL classification:

    • A1 - General Economics and Teaching - - General Economics
    • B5 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches

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