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Homo Economicus Under Multiple Pressures

In: A Genealogy of Self-Interest in Economics

Author

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  • Uskali Mäki

    (Nankai University
    University of Helsinki)

Abstract

The issues around homo economicus are deep, and the debates over it have been heated. The chapter identifies four pressures that have shaped these concerns and conversations—deriving from economics itself, from the common sense, from disciplines other than economics (such as sociology, experimental psychology, and cognitive neuroscience), and from important features and processes in social reality (such as self-interest as a social norm, exposure to money, and the marketization of society). Economic theories assuming homo economicus find support from such trends in society, while the common sense and other disciplines largely speak against it. Among the themes examined are the applicability of the model of homo economicus across a negotiable range of phenomena, the negligibility of the falsity of its idealizing assumptions, and the consequences of designing policies on the presumption that people are sufficiently close approximations to homo economicus.

Suggested Citation

  • Uskali Mäki, 2021. "Homo Economicus Under Multiple Pressures," Springer Books, in: Susumu Egashira & Masanori Taishido & D. Wade Hands & Uskali Mäki (ed.), A Genealogy of Self-Interest in Economics, pages 309-325, Springer.
    • Handle: RePEc:spr:sprchp:978-981-15-9395-6_18
    DOI: 10.1007/978-981-15-9395-6_18
    as

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