RATIONAL ECONOMIC THINKING: THEORETICAL APPROACH

Management and Finance

The conception of classical economics is in harmony with its philosophical foundations, the absence of these bases is clearly observed in the hypothetical proposals of the marginalist revolution. Rationality is instrumentalised to respond first to the theoretical need for causality, even heterogeneous approaches risk reinforcing the limits of this role by several determining variables. However, this trend is presented as a legacy of positivism, pointing to a paradigm problem, not a disciplinary dilemma. In order to analyze established economic rhetoric, the semantic equivalent of basic economic concepts must be illuminated. It must be shown that the phenomenon of "rationality" discussed in this context is not the backbone of the traditional approach, but the Achilles heel. Such an effort must carry the rational attitude in its internal dynamics, because it requires an epistemology parallel to ontology. The methodology of institutional economics makes it possible to give this effort to the basic theory in economic and social sciences.

This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.