Documentary #9: Debunking the Myth of Homo Economicus

What do you see when you peek behind the curtains of neoliberal capitalism? What happens when you lift the veil off? Well, you see a mythological character. An apparition that haunts our collective consciousness. A spectre that permeates our institutions and that has epistemologically imprisoned us. Homo economicus. The term Homo economicus, or economic man, is a core principle in mainstream economic thinking. It’s a portrayal of humans as being inherently rational, greedy, and self-interested. We first got interested in the idea of Homo economicus when we started noticing a consistent barrier that many people have with the possibility of imagining a more just, solidaritistic, and sustainable economic future, stems from their assumptions about human nature. Time after time, we’ve heard — “But, humans are naturally selfish, so any system based on trust, equity, and true democracy would never work.” Where did the idea of Homo economicus come from? Why is it so embedded in mainstream economic thinking? And most importantly, is it true? Are we Homo economicus? Or are we the opposite — kind, compassionate, altruistic beings whose good nature has been thwarted by a mistaken view of our own humanity? Or is the truth somewhere in between? These are some of the questions we will be exploring in this episode, “Debunking the Myth of Homo economicus.” Featuring: Bayo Akomolafe — Philosopher, author, professor, and organizer currently based in India David Sloan Wilson — Evolutionary biologist and a Professor of Biological Sciences and Anthropology at Binghamton University in New York. George Monbiot — Journalist and author of "Out of the Wreckage: A New Politics for an Age of Crisis" Kate Raworth — Renegade economist and author of "Doughnut Economics" Matt Christman — Co-host of the Chapo Traphouse podcast Peter Fleming — Professor in organization theory and author of "The Death of Homo economicus" Tom Crompton — Co-director of the Common Cause Foundation Vas — Former economics student (Vas declined to provide her last name) Yuan Yang — Founder of Rethinking Economics Music by: Haley Heynderickx American Football Many thanks to Charlie Young for the cover art, as well as to Elle Bisgard Church, Lilly Datnow, and Emmanuel Brown for their research and support for this episode.  This episode of Upstream was made possible with support from listeners like you. Upstream is a labor of love — we couldn't keep this project going without the generosity of our listeners and fans. Please consider chipping in a one-time or recurring donation at www.upstreampodcast.org/support If your organization wants to sponsor one of our upcoming documentaries, we have a number of sponsorship packages available. Find out more at upstreampodcast.org/sponsorship For more from Upstream, visit www.upstreampodcast.org and follow us on Twitter, Instagram, Facebook, and Bluesky. You can also subscribe to us on Apple Podcasts, Spotify, or wherever you listen to your favorite podcasts.