L. MISES THEORY OF MIND AS A KEY TO THE ALTERNATIVE APPROACH IN ECONOMIC THEOLOGY


Tutov L.A., Gavrina E.G.

The actual problem of searching for ways out of the economic theory from the crisis is considered. Modern economic theory needs to reconsider its methodological foundations. Relying on the neoclassical theory of mind, the theory is not able to give a complete and accurate explanation of the behavior of the individual. The neoclassical theory of mind is based on the principle of maximum utility. When studying economic phenomena, such elements of economic reality as probability factor, traditions, customs, and uncertainty factor of the future are not analyzed. Keywords: economic theory of mind, neoclassical theory of mind, praxeology, hedonism principle, maximum utility principle, maximum expected utility, rationality, value, event probability. Highlights: the study of the basic parameters of L. Mises economic theory of mind allows obtaining the model that is as close as possible to reality. This model is based on the principle of expected utility; the elements that make up the theoretical and methodological basis of the model allow viewing a person as an active individual who independently sets goals and determines the means of achieving them, building his behavior on the basis of a personal scale of values, preferences, and worldview. The actual problem of searching for ways out of the economic theory from the crisis is considered. Modern economic theory needs to reconsider its methodological foundations. Relying on the neoclassical theory of mind, the theory is not able to give a complete and accurate explanation of the behavior of the individual. The neoclassical theory of mind is based on the principle of maximum utility. When studying economic phenomena, such elements of economic reality as probability factor, traditions, customs, and uncertainty factor of the future are not analyzed. Keywords: economic theory of mind, neoclassical theory of mind, praxeology, hedonism principle, maximum utility principle, maximum expected utility, rationality, value, event probability.

Leonid A. Tutov, Doctor of Philosophy, Professor, Head of Department of Philosophy and Methodology of Economics; Elena G. Gavrina, Candidate of Philosophy, Associate Professor. – Lomonosov Moscow State University.


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