Browsing Institute for Christian Studies by Subjects
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Karl Polanyi and the Social Embeddedness of Economic Life: a Critique of the rationality assumption in economicsEconomic rationality refers to the efficient use of resources so as to satisfy human ends as fully as possible. Rationality, taken in this sense, has been a consistent and important theme in the history of economic thought. Only in this century however has rationality been explicitly formulated as a basic assumption of individual behaviour in economic theory. [Partial abstract taken from thesis]
