The Question of “Equilibrium” in Human Action and the Everyday Paradox of Rationality

The Question of “Equilibrium” in Human Action and the Everyday Paradox of Rationality This paper first specifies how Schütz's analysis of deliberation determines the limits of rationality where individual human action is concerned. This analysis establishes that there is no equilibrium of alternative possibilities before or after deliberation. Next the paper specifies how Schütz's analysis of the typification that makes successful intersubjective action possible leads to the “paradox of rationality on the common sense level.” Finally, the paper explains how Schütz's analysis of “relevance” can provide an account for this paradox, and thereby point to an order of human interaction in the absence of equilibrium, all without violating the postulate of subjective interpretation. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png The Review of Austrian Economics Springer Journals

The Question of “Equilibrium” in Human Action and the Everyday Paradox of Rationality

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Publisher
Kluwer Academic Publishers
Copyright
Copyright © 2001 by Kluwer Academic Publishers
Subject
Economics; Public Finance; Political Science; History of Economic Thought/Methodology
ISSN
0889-3047
eISSN
1573-7128
D.O.I.
10.1023/A:1011108116407
Publisher site
See Article on Publisher Site

Abstract

This paper first specifies how Schütz's analysis of deliberation determines the limits of rationality where individual human action is concerned. This analysis establishes that there is no equilibrium of alternative possibilities before or after deliberation. Next the paper specifies how Schütz's analysis of the typification that makes successful intersubjective action possible leads to the “paradox of rationality on the common sense level.” Finally, the paper explains how Schütz's analysis of “relevance” can provide an account for this paradox, and thereby point to an order of human interaction in the absence of equilibrium, all without violating the postulate of subjective interpretation.

Journal

The Review of Austrian EconomicsSpringer Journals

Published: Oct 6, 2004

References

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