FROM HOMO ECONOMICUS TO THE POSSIBLE HUMAN BEING: TOWARD A REDEFINITION OF THE ECONOMIC AGENT
Keywords:
Economic Man, Possible Human Being, Economic Actor, Bounded Rationality, Philosophical Anthropology, Economic PossibilityAbstract
This study aims to re-examine the traditional concept of the economic actor, or what is called “Economic Man”, which is based on the assumption of individual rationality and the ability to maximize utility and make optimal decisions, and which has dominated much of modern economic theory. The study proceeds from the premise that this model, despite its analytical importance, does not adequately reflect the complexity of human nature and its cognitive and value-based constraints.
Therefore, the study addresses the question of whether the Economic Man model is adequate for explaining human behavior and whether a more comprehensive understanding of the nature and behavior of the economic actor can be developed.
The study adopts an analytical-critical approach to examine the assumptions underlying the Economic Man model and reveal its explanatory constraints, while drawing upon contemporary philosophical and anthropological perspectives to construct an alternative conceptual framework. To achieve this, the study critiques the Economic Man model and absolute rationality, then explores the anthropological and philosophical foundations of the Possible Human Being, culminating in the development of the concept of “Possible Human Being” as an alternative conception of the economic agent.
The study concluded that the Economic Man model, despite its explanatory value, does not provide a sufficient understanding of human nature and economic behavior. This is due to the constraints of human knowledge and the influence of social, ethical, and psychological factors on shaping behavior and choices. The study also concluded that the concept of “Possible Human Being” offers a more comprehensive theoretical framework for understanding the economic actor as an active yet imperfect being whose actions are determined by their ability to transform the limits of their reality and knowledge into possibilities for action and transcendence.
