Economics imperialism in The Logic of Life

Abstract

This study is a documentary research with the objective of demonstrating how the concepts of neoclassical economics are applied to explain phenomena beyond economic activities, as illustrated in the book The Logic of Life by Tim Harford, translated into Thai by Sarinee Achavanuntakul. In this article, such an approach is referred to as the economic imperialism.

The study finds that the content of The Logic of Life emphasizes the notion that humans are inherently rational beings. That is, individuals are capable of making choices that maximize their own welfare. When circumstances change and the costs and benefits of different choices shift, people will adjust their decisions accordingly in order to continue maximizing their welfare. Tim Harford applies this rational behavior framework to explain various aspects of human behavior beyond economic activities, such as sexual behavior, crime, marriage, divorce, and racism.

This research also observes the use of economic concepts to explain social issues—what is referred to as the economic imperialism to highlight two key concerns: the irrationality of purely rational explanations and the reduction of other important factors necessary to understand human behavior.