• Karl Polanyi and the Social Embeddedness of Economic Life: a Critique of the rationality assumption in economics

      Marshall, Paul; Woods, David; Institute for Christian Studies (Institute for Christian Studies, 1987-08)
      Economic 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]