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- Title
The intersubjective ontology of need in Carl Menger.
- Authors
Yamamori, Toru
- Abstract
As I have argued elsewhere, there is no room for the concept of need in the prevailing neoclassical school of economics—without reducing the need to a purely subjective construct. Not so, however, both in classical political economy and in the contemporary heterodox schools of economics. The main aim of this paper is, firstly, to show the existence of the concept of need as such in Carl Menger—widely acknowledged as one of the fathers of modern economics; and secondly, to trace the concept's erasure in the orthodox school along with its rediscovery in the heterodox schools. With this exposition on the history of the idea, I hope to demonstrate how taking the concept seriously would urge us to engage ontological research and would mandate a significant change in economic analysis, regardless of whether this change is considered to reside within the orthodox tradition or be deemed a departure to heterodoxy.
- Subjects
NEOCLASSICAL school of economics; HETERODOX economics; INTELLECTUAL history; ECONOMIC change; ONTOLOGY
- Publication
Cambridge Journal of Economics, 2020, Vol 44, Issue 5, p1093
- ISSN
0309-166X
- Publication type
Article
- DOI
10.1093/cje/beaa028