What view of human nature is articulated in the term Homo economicus?

What view of human nature is articulated in the term Homo economicus? Contrast the views of Adam Smith and Marcel Mauss on human nature in this regard and its implications for social and economic organization.

Expert Solution

It is an embodied economic theory. As indicated by this theory, the Homo Economicus are creatures who are exceptionally conceited and sound in their way to deal with anything. Taking into account their own personal responsibility is their need. they characterize their objectives abstractly and seek after them ideally. Homo Economicus focuses on maximum utility as a shopper and maximum gainfulness as a maker. They depict somebody who is totally levelheaded. These are the characteristics of human nature articulated in the term Homo Economicus.

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