Homo oeconomicus, as the subject of economics, should be abandoned in favor of homo symbolicus. More precisely, homo oeconomicus can stay on the scene as long as human choices are simple. However, when choices have to deal with incomparability of the alternatives, indivisibility of the goods, an intrinsically relational situation, and passions that overwhelm her/him, then homo symbolicus, defined as a social actor shaped by the culture of which s/he is surrounded, occupies the center of the stage.
Homo oeconomicus, as the subject of economics, should be abandoned in favor of homo symbolicus. More precisely, homo oeconomicus can stay on the scene as long as human choices are simple. However, when choices have to deal with incomparability of the alternatives, indivisibility of the goods, an intrinsically relational situation, and passions that overwhelm her/him, then homo symbolicus, defined as a social actor shaped by the culture of which s/he is surrounded, occupies the center of the stage.
Nicolò Bellanca, Ph.D. in History of Economics, is associate professor in Applied Economics at the University of Florence (Italy), where he teaches Development Economics and Economics. He authored eight books, and published several articles and chapters in many books and journals.
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