Economics

Economics regards human in the social economic activities as the start and end of the theoretical research. The hypothesis of economic man, an abstract idea on human economics, has built the most central theoretical foundation of western mainstream economics. The hypothesis has gone through a long history and harsh critique since the "economic man" was firstly proposed by Adam Smith in late 18th century. Revisions, supplements and re-annotation to this hypothesis have enhanced the development and evolution of mainstream economics. Meanwhile, doubts, disputes or deviations over this hypothesis have also facilitated the development of different non-mainstream economics. The development history of economics, therefore, is in close connection with the hypothesis of economic man.Economic men are prone to egotism. This is the basic hypothesis of western mainstream economics. Since Adam Smith, the founder of classical economics system, brought forth the egoism hypothesis of economic man, there have been continuous disputes over "economic man" carried out by scholars of different eras. Disputes over egoism and altruism which involve human nature and human essence are especially hot, and increasingly become a great leading-edge theoretical issue faced by economics and other social sciences. As a matter of fact, human is a kind of social being with consciousness and extensive needs. Egoism and altruism are the two sides of the human nature. Therefore, the analysis of human's economic behavior can't be fulfilled by the economics itself only. Psychology, ethics, sociology, biology and other disciplines associated with economics must be combined with economics to adequately complete the analysis. Only through development of other disciplines, economic science could obtain strong supports for its further perfection and integrity.Economic men are prone to rationality. This is another basic hypothesis of western mainstream economics. Rational economic man maximizes his own interests or utilities. Any departure from self-interest maximization is considered to be irrational. However, this hypothesis, like the hypothesis of egoistic economic man,...