From Homo Economicus to Homo Sapiens
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Open Access
- 1 February 2000
- journal article
- Published by American Economic Association in Journal of Economic Perspectives
- Vol. 14 (1) , 133-141
- https://doi.org/10.1257/jep.14.1.133
Abstract
In responding to a request for predictions about the future of economics, I predict that Homo Economicus will evolve into Homo Sapiens, or, more simply put, economics will become more related to human behavior. My specific predictions are that Homo Economicus will start to lose IQ, will become a slower learner, will start interacting with other species, and that economists will start to study human cognition, human emotion, and will distinguish more clearly between normative and descriptive theories.Keywords
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