The Economic Man and Rationality in Adam Smith

Revista de Economía Institucional, Vol. 11, No. 21, Second Semester 2009

7 Pages Posted: 14 Jan 2010

Multiple version iconThere are 2 versions of this paper

Date Written: December 1, 2009

Abstract

The assumption of rationality is central in current economic theory. This hypothesis is the pillar for the creation of the homo economicus of conventional theory. Starting with Adam Smith’s approach to rationality, the aim of this paper is to contribute to the discussion of the main characteristics of the individual underlying the rational man of economics and their implications for economic analysis. The meaning of rationality in several authors is reexamined and it is argued that the basis of Adam Smith’s work are still valid.

Note: Downloadable document is in Spanish.

Keywords: behavior, egoism, homo economicus

JEL Classification: B0, B4, D1

Suggested Citation

D'Elia, Vanesa V., The Economic Man and Rationality in Adam Smith (December 1, 2009). Revista de Economía Institucional, Vol. 11, No. 21, Second Semester 2009, Available at SSRN: https://ssrn.com/abstract=1535542

Vanesa V. D'Elia (Contact Author)

University of CEMA ( email )

1054 Buenos Aires
Argentina