Economic Rationalism

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Discussion

As Mctaggart (1992) describes:

“Economic rationalism is not merely a term which suggests the primacy of economic values. It expresses commitment to those values in order to serve particular sets of interests ahead of others. Furthermore, it disguises that commitment in a discourse of ‘economic necessity’ defined by its economic models. We have moved beyond the reductionism which leads all values to be discussed as if they were economic ones (de-valuation) to a situation where moral questions are denied completely (de-moralization) in a cult of economic inevitability”

(cited by Alan Rayner in: Attuning to Natural Energy Flows vs. Abstract Economic Rationality}