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New Economic Thinking - Turning Away from the Market Fetish
by Ronald Schettkat
"New economic thinking" rejects the view of the person as "homo oeconomicus" reduced to maximization of individual benefits and offers a more comprehensive and realistic concept in which justice, norms, routines and emotions flow into decision-making. Theory must adjust to reality, not vice versa. "Homo recipocans" better reflects our inter-dependent nature.
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