Article(print)1991

Death to Homo Economicus?

In: Critical review: an interdisciplinary journal of politics and society, Volume 5, Issue 3, p. 353-378

Merquior, J. G

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Abstract

Seven contemporary theoretical traditions have contributed to the demise of homo economicus: postindustrial sociology; the antiutilitarian ethics of modern social contract theorists, eg, John Rawls; the democratic theory of C. B. MacPherson; Jurgen Habermas's historical philosophy of culture; Cambridge-style political economics; economic anthropology; & the comparative cultural anthropology of Louis Dumont. Each of these traditions' explicit rejection of the image of economic man is discussed, & it is contended that the death of homo economicus has three ideological consequences for the social sciences: the negation of the idea of progress, the weakening of individualism, & skepticism of objective knowledge. Because of these adverse effects, it is suggested that homo economicus deserves resuscitation as both a paradigm of human choice making & as a highly useful ideal type. W. Howard

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