The Question of "Equilibrium" in Human Action and the Everyday Paradox of Rationality

Wayne J Froman

The Review of Austrian Economics, 2001, vol. 14, issue 2-3, 173-80

Abstract: This paper first specifies how Schutz's analysis of deliberation determines the limits of rationality where individual human action is concerned. This analysis establishes that there is no equilibrium of alternative possibilities before or after deliberation. Next the paper specifies how Schutz's analysis of the typification that makes successful intersubjective action possible leads to the "paradox of rationality on the common sense level." Finally, the paper explains how Schutz's analysis of "relevance" can provide an account for this paradox, and thereby point to an order of human interaction in the absence of equilibrium, all without violating the postulate of subjective interpretation. Copyright 2001 by Kluwer Academic Publishers

Date: 2001
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