Thoughtful Economic Man Essays on Rationality, Moral Rules and Benevolence [Hardcover]

This 1991 collection of essays by celebrated authors centres on ideas of rationality and morality in economics.An authoritative examination of the implications of conventional conceptions of rational economic man for all economic study as well as the role of rationality and morals in economics.An authoritative examination of the implications of conventional conceptions of rational economic man for all economic study as well as the role of rationality and morals in economics.This collection of essays by celebrated authors centers on ideas of rationality and morality in economics. The themes the essays cover are fundamental to economics: the influence of benevolence, altruism, justice and religious principles in our treatment of others in society; and the bases of rationality in decision making under conditions of uncertainty. These common themes are given a wide range of perspectives by the contributors, who discuss whether not just a rational but also a thoughtful economic man can be fitted into a sophisticated version of the orthodox model of man as a self-interested maximizer, or whether a radical upheaval in economic analysis is needed to accomodate him. The book is an examination by leading authorities of not only the role of rationality and morals in economics, but also the implications of conventional conceptions of rational economic man for all economic study. It constitutes a powerful argument for greater richness and subtlety in ideas about the motivations of individuals in their economic behavior.Preface; Introduction Gay Meeks; 1. Benevolence Frank Hahn; 2. Beneconfusion Amartya Sen; 3. Love is not enough David Collard; 4. Exploitation, justice and the rational man alan Ryan; 5. Pleasures, prices and principles Tony Cramp; 6. Rationality and the sure-thing principle John Broome; 7. Animal spirits Robin Matthews; 8. Keynes on the rationality of decision procedures under uncertainty: the investment decision Gay Meeks.