ABSTRACT
The terms ‘rational’ and ‘rationalism’ can be used in an absolute sense or in a relative, historical sense. Reason must exist in some sense before rational, discursive thought can take place. The role which reason and rationality play, the importance attributed to it, and the degree to which other aspects of existence and other faculties of the mind are recognized or neglected vary considerably from culture to culture and from period to period. The rational element is of special importance in the social and economic sectors of our culture. Economic rationality becomes a symbol for two conflicting tendencies of the age: to relativize ethical concepts and to idealize formal rationality of choice and action. Economics has come a long way: from symbols of labour value, harmony, and equilibrium, through the stage of rational, economic man and markets, to an interpretation which uses strategy and warfare as analogies for economic behaviour and represents economic laws as probabilities.
