Homo Economicus

(redirected from Homo oeconomicus)
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Homo Economicus

A person that desires to maximize his/her needs or desires. Homo economicus is used most of the time to refer to the rational economic actor, who desires wealth, does not desire to work if it can be avoided, and is able to find ways achieve those ends. This assumption is accepted by many economists, especially those who follow rational choice theory, but it remains controversial. The concept of homo economicus was developed by utilitarian thinkers, and contrasts with the constructs of behavioral economics.
References in periodicals archive ?
No longer was homo oeconomicus to be understood as that 'intangible element with regard to the exercise of power' (Foucault, 2008: 270).
Jung, 'Marxism and Deep Ecology in Postmodernity: From Homo Oeconomicus to Homo Ecologicus', Thesis Eleven, vol.
Man is not essentially homo oeconomicus and economy should stop being seen as the main people's concern.
Homo oeconomicus becomes the sole template for all forms of action and association.
Todo esto se apoyaba, ademas, en un nuevo modelo de hombre que se alejaba del ideal del homo oeconomicus (103), que tenia en cuenta, por una parte, la racionalidad limitada de los actores (104) y, por otra, los vinculos del individuo en su contexto social, y como consecuencia reconocia que mas alla de las condiciones de patologia que pueden afectar el contrato existen situaciones estructurales o de fisionomia social que determinan una posicion de inferioridad de algunos contratantes en ciertas circunstancias: es lo que ha sido descrito como el triunfo del homo sociologicus sobre el homo oeconomicus (105).
28; HORST EIDENMULLER, "Der Homo oeconomicus und das Schuldrecht: Herausforderung durch Behavioral Law and Economics", en JZ, 2005, 218; MARTA CENINI, "La 'trattativa individuale' nei contratti con il consumatore: spiegazioni esaurienti o concreta influenza?
Together with the humanist psychology movement and with the Catholic worldview, they reject the notion of homo oeconomicus because they see human persons as striving for self-fulfillment and for communities rather than as calculating benefits and costs of options and then acting from purely egoistic and material motives.
El homo oeconomicus es la expresion cabal de esta conversion del "recurso humano" en "material del trabajo".
Raiser contends that, "Since the economic order of capitalism is based on the individualism of the homo oeconomicus and the pursuit of 'rational' self-interest, it not only fosters greed but depends on the unlimited desire of greed.
Homo oeconomicus is someone who is eminently governable.
The somewhat outdated utility theory of the latter points almost (though not altogether) inevitably to a homo oeconomicus who is opportunistic, self-interested, selfish.
The aim of this introductory essay, specifically, is to stage a confrontation between the subjects of these discourses, homo psychologicus and homo oeconomicus.