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Critically discuss the claim that the concept of rationality offers only a partial account of economic behaviour.
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Laura Zanni (L.Zanni@lse.ac.uk) SO219 Culture and Economy Essay 1- Michaelmas Term Critically discuss the claim that the concept of rationality offers only a partial account of economic behaviour. The concept of rationality is part of a broader concept of consumer culture, which spring from the liberalist school of thought. In this essay therefore, we will be discussing the claims of not only the rational model, but of much of liberalist thought as well. As we go along, we will be discussing weather the concept of rationality offers a good account of economic behaviour or not. We will be looking at some of the problems that the concept of rationality has managed to overcome, and how both the rational model and liberalist thought in general are useful tools in theorizing and in allocating resources in the market. At the same time, we will also be looking at the criticisms that can be...
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