The revival of the ideas of Alfred Schütz among Austrian economists is examined. In particular, this paper looks at Schütz's work on intersubjectivity as an alternative approach to market coordination. As opposed to the rational maximization of individuals, some have argued that Schütz's concept of intersubjective structures of meaning offers a better model for understanding how individuals act in the social world. This paper questions the soundness of utilizing Schütz's approach and suggests that the work of the sociologist Erving Goffman offers a potential model of social interaction that encompasses many elements of Schütz's framework but does not share the same limitations. Drawing on selected works of Goffman, a tentative model of social interaction and decision-making is put forward for discussion and further research.
The Review of Austrian Economics – Springer Journals
Published: Oct 6, 2004
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