The concept of reason in economics: Smith and Sen versus neo-classicism

Economics, for the most part, has adopted and promoted an instrumental and internalist view of reasons, grounding reasons in preferences. Exceptions have been few and far between, but they include, significantly, Adam Smith and Amartya Sen. Sen's idea of "counter-preferential choice," adumbrated in his brilliant article, "Rational Fools," has had almost zero influence in the profession, alas. Smith's differences with Hume on practical reason have been ignored (by economists at any rate). The idea that one can have an external reason, a reason to act counter to one's preferences, has had no purchase in our discipline.

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Publication Details

Journal
The Journal of Economics and Politics
Published
2026-01-13
DOI
https://doi.org/10.59604/1046-2309.1193
Primary Topic
Economic Theory and Institutions
Type
article
Field-Weighted Citation Impact
0.00
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article

The concept of reason in economics: Smith and Sen versus neo-classicism

kevin quinn
The Journal of Economics and Politics
Economic Theory and Institutions
article

The concept of reason in economics: Smith and Sen versus neo-classicism

kevin quinn
article en

Abstract

Economics, for the most part, has adopted and promoted an instrumental and internalist view of reasons, grounding reasons in preferences. Exceptions have been few and far between, but they include, significantly, Adam Smith and Amartya Sen. Sen's idea of "counter-preferential choice," adumbrated in his brilliant article, "Rational Fools," has had almost zero influence in the profession, alas. Smith's differences with Hume on practical reason have been ignored (by economists at any rate). The idea that one can have an external reason, a reason to act counter to one's preferences, has had no purchase in our discipline.

The Journal of Economics and PoliticsVol. 30(1)
Openalex Percentile: Top 91%
Economic Theory and Institutions
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The concept of reason in economics: Smith and Sen versus neo-classicism — kevin quinn · The Journal of Economics and Politics (2026) | TGRS Research Map | TGRS