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Homo Oeconomicus Novus And The Illusion Of Sustainability

Author

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  • NEAGOE, Daniel

    (“Costin C.Kiriţescu” National Institute for Economic Research, Romanian Academy, Bucharest, Romania)

Abstract

In a more and more preoccupied society for ensuring sustainability at all its levels (environmental, economic, social and cultural) the question is if a sustainable development could be reached through the primary or updated model of Homo Oeconomicus. If sustainable development means to use the resources without affecting the capacity of the next generations to satisfy their needs and Homo Oeconomicus purely rational primary model on one hand suggest that people follow only their own interest and on the other hand, Homo Oeconomicus updated model which suggests that people decisions are based on irrational and unconscious mechanisms, the issue rests on the real possibility of sustainability to be achieved. The argument of the paper is to identify how sustainable development is affected by human economic behavior, to which extend we can speak about the illusion of sustainability and what could be alternative approaches to attain sustainability.

Suggested Citation

  • NEAGOE, Daniel, 2014. "Homo Oeconomicus Novus And The Illusion Of Sustainability," Journal of Financial and Monetary Economics, Centre of Financial and Monetary Research "Victor Slavescu", vol. 1(1), pages 302-308.
    • Handle: RePEc:vls:rojfme:v:1:y:2014:i:1:p:302-308
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    References listed on IDEAS

    as
    1. Smith, Adam, 1977. "An Inquiry into the Nature and Causes of the Wealth of Nations," University of Chicago Press Economics Books, University of Chicago Press, number 9780226763743 edited by Cannan, Edwin, January.
    2. Joseph Persky, 1995. "The Ethology of Homo Economicus," Journal of Economic Perspectives, American Economic Association, vol. 9(2), pages 221-231, Spring.
    3. Herbert A. Simon, 1991. "Bounded Rationality and Organizational Learning," Organization Science, INFORMS, vol. 2(1), pages 125-134, February.
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    More about this item

    Keywords

    Homo Oeconomicus; Rationality; Irrationality; Sustainability;
    All these keywords.

    JEL classification:

    • A14 - General Economics and Teaching - - General Economics - - - Sociology of Economics
    • Q01 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General - - - Sustainable Development
    • Q56 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth

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