HOMO OECONOMICUS NOVUS AND THE ILLUSION OF SUSTAINABILITY

Daniel Neagoe
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Daniel Neagoe: “Costin C.Kiriţescu” National Institute for Economic Research, Romanian Academy, Bucharest, Romania

Journal of Financial and Monetary Economics, 2014, vol. 1, issue 1, 302-308

Abstract: In a more and more preoccupied society for ensuring sustainability at all its levels (environmental, economic, social and cultural) the question is if a sustainable development could be reached through the primary or updated model of Homo Oeconomicus. If sustainable development means to use the resources without affecting the capacity of the next generations to satisfy their needs and Homo Oeconomicus purely rational primary model on one hand suggest that people follow only their own interest and on the other hand, Homo Oeconomicus updated model which suggests that people decisions are based on irrational and unconscious mechanisms, the issue rests on the real possibility of sustainability to be achieved. The argument of the paper is to identify how sustainable development is affected by human economic behavior, to which extend we can speak about the illusion of sustainability and what could be alternative approaches to attain sustainability.

Keywords: Homo Oeconomicus; Rationality; Irrationality; Sustainability (search for similar items in EconPapers)
JEL-codes: A14 Q01 Q56 (search for similar items in EconPapers)
Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:vls:rojfme:v:1:y:2014:i:1:p:302-308

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