The Three Basic Presuppositions of Economists

Wang Dingding

Chinese Economy, 1999, vol. 32, issue 4, 65-69

Abstract: The contemporary study of economics originally derived from the moral vision of Adam Smith and was reformulated in two stages, first by Alfred Marshall [>i>Principles of Economics>/i>] and, second, by Paul Samuelson [>i>Economics>/i>]. Throughout this process, the fundamental premise of the "rational economic actor" has remained unchanged, despite the fact that currently the concept of rationalism is itself under critical assault in economics.

Date: 1999
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