Mark D. White
In the new issue of Philosophy of the Social Sciences (December 2010, 40/4) is a review essay from Raphael Sassower (University of Colorado, Colorado Springs) titled "Is Homo Economicus Extinct?":
The classical view of “rational man” as the unit of analysis for economic behavior and marketplace exchange has been changed by the late twentieth century with the help of behavioral economics that considers predictable irrationality as a normal mode of behavior. Instead of revising neoclassical economics to fit contemporary economic crises, it is recommended to follow Adam Smith's original concerns for the social setting of individual behavior and to treat economic crises with pragmatic flexibility rather than with dogmatic ideology.
Looks very intriguing; once I obtain a copy, I hope to comment on it (and, as always, any other comments are welcome).
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