TY  - JOUR
AU  - Keen, Steve 
PY  - 2005
TI  - Irrationality in the Neoclassical Definition of Rationality
JF  - American Journal of Applied Sciences
VL  - 2
IS  - 13
DO  - 10.3844/ajassp.2005.61.68
UR  - https://thescipub.com/abstract/ajassp.2005.61.68
AB  - In this study we are not arguing that competition as it actually occurs in practice is not socially beneficial. Our criticism is directed instead at the false belief that rational profit-maximizing behavior and competition as defined by neoclassical economic theory will lead to a welfare-maximizing outcome-again, as defined by neoclassical theory.