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Same Economics, Different Rationality: A Comprasion for Economic Schools

Journal: Efil Ekonomi Araştırmaları Dergisi (Vol.3, No. 1)

Publication Date:

Authors : ;

Page : 20-90

Keywords : Rationality; Orthodox Economics; Heterodox Economics;

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Abstract

Rationality is one of the most used concepts in social sciences. In this sense, each economic school gives legitimacy to its model with a certain definition of rationality, which reveals the difference behind the views: This difference stems from rationality. The reason why rationality is used in different meanings is that the decision-making skills, knowledge, uncertainty and balance conditions of the models in question vary. However, different views on rationality are not only seen in economics; from the moment rationality emerged, different views within the schools of philosophy form the basis for the current debate. In this sense, the aim of the study is to make a comparison for economic schools by recalling the emergence and development of this concept, which has such an ancient history and directs economic models. To achieve this goal, a literature review has been carried out.

Last modified: 2021-09-21 22:54:03