Evolution of the economic man in the theory of human capital: from homo economicus to homo transactus

Maruschak I.V.1
1 Волгоградский государственный университет

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Journal paper

Creative Economy (РИНЦ, ВАК)
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Volume 11, Number 8 (August 2017)

Citation:

Maruschak, I. V. (2017). Evolution of the economic man in the theory of human capital: from homo economicus to homo transactus. Creative Economy, 11(8), 839-846. https://doi.org/10.18334/ce.11.8.38206

Indexed in Russian Science Citation Index: https://elibrary.ru/item.asp?id=30150000
Cited: 4 by 07.12.2023

Abstract:
The article considers the evolution of models of human economic behavior. We classify the advantages and disadvantages of models studied in the framework of institutional economics and the theory of human capital. We criticize the model "homo economicus", because it is unrealistic and artificial. We visualize a map of human models in modern economic science. We suggest integrate human model, which is capable to unify mono-aspect approaches and adequately explain human nature in the theory of human capital. In this theory the "transaction person" is a subject of relationships that are formed on the basis of transactions; the "transaction person" also has a multidimensional identity. The article is of interest to experts in a theory of institutional economics, human and intellectual capital, to researchers of planning and management problems in the context of a modern postindustrial economy.

Keywords: evolutionary economics, economic theory, institutional economics, human model, theory of human capital, rationality of behavior

JEL-classification: J24, N00

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