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Abstract
This paper aims to outline economism, which is a framework underlining mainstream economistsʼ theories. Having ascertained that it prevents citizens from having an unfiltered look at economic realities, the author tries to show specific ways to overcome it. Research found that studying economics in its present form may actually make citizens more selfish. This selfish-actor presumption, which has become so pervasive, may blind citizens to the possibility that economic actors can behave in an other-regarding or even pro-social way, even in a market context, despite a general sense that every economic actor behaves selfishly in the market. We should be advised to overcome economism. Gaining an economism-free perspective would ensure a new approach to and understanding of economic realities. The author specifically attributes the main characteristics of economism to include the following four elements: first, a faith in an autonomous economic system; second, a selfish actor model of what is called homo economicus; third, a closed market system; and fourth, the absolute value of efficiency. The author suggests we adopt a new framework encompassing four alternative elements which accord to the four points above, all of which will be explored in the paper: first, the conception of embedded economy in society; second, the adoption of homo socio-economicus in place of homo economicus; third, the introduction of two unconventional market concepts, one is the hard market, the other, the soft market; and lastly, a focus on inefficiency.
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