ABSTRACT
The long dominant neoclassical paradigm views economic behavior as universal and largely rational; exceptions and variations are treated as random and irrelevant. Behavioral economics expands economic thought by recognizing the importance of irrational psychological influences, moderating neoclassicism accordingly. Substantive alternatives, in contrast to both, view economic behavior from a social and cultural perspective. Thus, a range of economic paradigms exist. Indigenous people, ethnic groups, and traditional communities need to focus upon their distinctiveness and choose strategies that lead to empowerment and self-determinism.
