Duncan Foley, “Rationality and Ideology in Economics”

Category : Economics

Robert Heilbroner has had a long-standing interest in the issues of rationality and ideology in shaping economic theory (see, particularly, Heilbroner, 1988, chaps. 1 and 8, and Heilbroner, 1999, chap. 11). Heilbroner argues that the conception of rationality underlying economic theory is specific to the emergence of capitalism as a mode of production and that economics as a science cannot avoid confronting issues (especially the distribution of material wealth and power) that are inherently political and ideological. This essay explores these issues in the spirit of Heilbroner’s concerns.

Source: Social Research 71.2 (2004): 329

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