Abstract

LAERA, Rodrigo. The Teleological Problem at the Root of Economic Thought. Ens. Econ. [online]. 2020, vol.30, n.56, pp.11-30. ISSN 0121-117X.  https://doi.org/10.15446/ede.v30n56.80632.

The objective of the present paper consists in exploring two fundamental characteristics of the rationality of the economic system: The coherence of the ends towards which the economic theory is directed and the behavior of the subjects to the rationality of the system. For this, we present the idea that the teleological background of economic theory does not tell us anything about the hierarchy of ends. This idea is seen above all in the concept of utility and in the hypothesis of the new classical economy of rational expectations.

JEL: A10; A11; A13; N00; P00.

Keywords : economic rationality; teleology; economic systems; rational expectations; economic thought.

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