Weekly Thought Evaluation

Weekly Thought Evaluations (WTEs). Each week, the instructor will ask for a 3-5 page paper on the current week’s topic. The content of the paper will respond to the topic by including a summary of the relevant chapter and/or readings and an application of that chapter material to the topic.

WTE 1

Today’s mainstream economists speak of “rational economic man” as the fundamental character of people, immutable across time and space, and the foundation of economic activity. Key characteristics of “rational economic man” are atomism, egoism, and rationality.

Describe each of these concepts. Then discuss whether these concepts apply across time and space, and if not, describe what the implications for today’s mainstream economic thought might be.