http://www.sociology.org/content/vol7.2/02_zafirovski.htmlI saw a documentary about deeply held economic assumptions that underlie the vast majority of economic "truisms" promulgated by economists. The theory dates back to Adam Smith and asserts that ultimately rational self-interest will determine the spending patterns of people. The theory suggests that even though there are deviations from this truth that the vast majority of decisions are based on rational self-interest and therefore economic modeling can mathematically flow logically given variables such as supply, demand and available resources in general.
After the great recession of 2008, people again began to reconsider these immutable forms of economic gospel and many new behavioral and mixed theories are taking rapid hold as potential evolutionary replacements for longstanding economic assumptions. Behavioral models in particular are being considered in favor of rationals.
"Money is the barometer of a society's virtue." - Ayn Rand
"No." - ITTO
