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Self Interest, Rationality and the Neoliberal Illusion

Author

Listed:
  • Andrea Boitani

    (Dipartimento di Economia e Finanza – Università Cattolica del Sacro Cuore, Milano)

Abstract

The writing of this paper is occasioned by the very critical comments of Giacomo Costa (2022) regarding my book L’illusione liberista. However, the paper is not meant to be a general reply to Costa’s remarks. It rather represents an attempt to go deeper into issues that I regard as foundational for contemporary economics and politics alike: the invisible hand theorem and the transformation from a market economy to a market society; the unpleasantness of homo economicus; the (unnecessary) link between self-interest and rationality; the negative effects of the generational egoism that underlies the neoliberal approach on climate change; the contrast between homo economicus, homo cooperans and homo moralis; the difficult coexistence of markets and incentives with goods that should not have a price.

Suggested Citation

  • Andrea Boitani, 2023. "Self Interest, Rationality and the Neoliberal Illusion," Rivista Internazionale di Scienze Sociali, Vita e Pensiero, Pubblicazioni dell'Universita' Cattolica del Sacro Cuore, vol. 131(2), pages 253-272.
    • Handle: RePEc:vep:journl:y:2023:v:131:i:2:p:253-272
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    More about this item

    Keywords

    Neoliberalism; Invisible hand; Rationality; Market failures; Cooperation;
    All these keywords.

    JEL classification:

    • A11 - General Economics and Teaching - - General Economics - - - Role of Economics; Role of Economists
    • A13 - General Economics and Teaching - - General Economics - - - Relation of Economics to Social Values
    • B40 - Schools of Economic Thought and Methodology - - Economic Methodology - - - General
    • D01 - Microeconomics - - General - - - Microeconomic Behavior: Underlying Principles
    • D41 - Microeconomics - - Market Structure, Pricing, and Design - - - Perfect Competition
    • D50 - Microeconomics - - General Equilibrium and Disequilibrium - - - General
    • D90 - Microeconomics - - Micro-Based Behavioral Economics - - - General

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