Abstract
Abstract Economics is widely accused of being a portrayer of a dark and dismal image of human nature (i.e. its model of homo economicus as a self-interested, even selfish and opportunistic maximizer of its own gains). This article argues that the model of homo economicus is not an empirical or prescriptive image of human nature but a useful, “heuristic,” methodical instrument for economic theorizing (in our case, for the economic study of religion that connects to the Hebrew Bible). This article demonstrates that in generic, methodological perspective, the model of homo economicus compares well to similarly unrealistic, “dismal” models of human nature in other disciplines that study religion. I develop these arguments by focusing on selective stories from Genesis, especially the stories of Jacob. Implications are derived regarding the application of economic methods and concepts for research on the texts in the Hebrew Bible.
Highlights
Economics has been widely accused of portraying a negative image of human nature
At times, such criticism has even been brought forward by renowned economists, especially those that favor in certain respects, a behavioral approach to economic research that aims to revise the model of homo economicus
That it does not compare well to “human nature as we know it” (Williamson 1996: 6; 1985: 44–6, 387, 391). As correct as such criticism may be from an empirical, behavioral perspective, other economists have expressed the view that this type of criticism is irrelevant, largely because the model of homo economicus methodologically undergirds only empirical and theoretical research in mainstream economics
Summary
Economics has been widely accused of portraying a negative image of human nature. The model of homo economicus (or self-interested, utility-maximizing, rational choice), which is applied in most forms of economic research, is often the target of criticism. That it does not compare well to “human nature as we know it” (Williamson 1996: 6; 1985: 44–6, 387, 391) As correct as such criticism may be from an empirical, behavioral perspective, other economists have expressed the view that this type of criticism is irrelevant, largely because the model of homo economicus methodologically undergirds only empirical and theoretical research in mainstream economics (leaving behavioral economics, economic psychology, or socio-economics aside). Section three traces a methodological application of the model of homo economicus in the stories of Jacob, and it compares the understanding derived with other interpretation strategies in the field of religious studies that concentrate on features of human nature as such.
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