This study examines the system-deciding principle of economic rationality for its logical soundness and effects in global practice. Analysis demonstrates the fallacious structure of the underlying assumptions of homo economicus across theories and institutions, and explains how cumulative destruction of global economic, social, and ecological life systems follows from its life-blind mechanism. Higher-order concepts of life-capital, life-value efficiency, and life-good supply and demand are then defined to bring economic rationality into coherence with terrestrial and human life requirements.
Tag: Homo Economicus
‘Homo Economicus’ Must Die | Nick Hanauer
Nick Hanauer’s rousing speech on the lies on which neoliberalism is built.
This piece is adapted from a speech delivered September 30th at MIT, where Nick Hanauer won the 2018 Harvard and MIT Humanist of the Year award. Read more about the award, as well as Editor Michael Tomasky’s Q&A with Hanauer. Read More