Economic Rationality

1641 Words 7 Pages
In the article, Beyond the rationality of economic man, toward the true rationality of human man, by John Tomer, we once again see the argument of what rationality truly is come to light. In this particular article Tomer stands on the side that mainstream economics and the idea of economic rationality is not a complete rationality. He goes on to explain that true rationality will be a combination of bother instrumental rationality and rationality of ends (Tomer 1704). The combination of the two creates a process in which appropriate reason is used to choose the best possible means to an end, and an end that serve’s our best interest (Tomer 1704). From this true rationality the author explains that we as a society will not only benefit he states, …show more content…
First, looking at capitalism being a limitation this is considered the ‘great problem’ in the Marxist school (HET). The reason being that the capitalist system allows labor to be exploited. Karl Marx explains through his labor theory that there is an important distinction between labor power, amount of labor that is necessary to produce subsistence, and labor time, the amount actually worked (HET). This idea then explains how capitalist make a surplus and thus profit, which is done by labors working a greater number of hours than what is needed to cover the wage bill (HET Karl Marx). For example, say that daily wage can be covered in four hours based, but the work day is ten hours, which means that 6 hours are surplus to the capitalist. Marxist would then use the idea of “rate of exploitation” to calculate 6/4 = 1.5, this then can be increased further by introducing new technology, and although the workers may be increasing their ‘living condition’ by helping the capitalist Marx believes that the workers should not be okay with growing inequality (HET Marx). This idea can clearly connect to Tomer’s theory of true preferences because here we see what Tomer describes as …show more content…
The reason for agreement is that we too believe the current state of the world specifically under capitalism is hindering the growth of human and thus preventing the advancement towards acquiring true preferences. So as such, we add the assertion that in order to achieve the true preferences and human rationality that Tomer desires that state of society must become one of pure communism or an Egalitarian classless society. Which leaves one question, are you willing to give up your self interest in the pursuit of becoming perfection; or will you be bound to the half-life that exists under the economic rationality of

Related Documents