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The purpose of this paper is to trace the development of economic theory to the point where “economic rationalism” is a commonly used term.

The paper draws on earlier research and published works examining: the history of economics; economic rationalism; and the different influences in comprising basic economic concepts.

The analysis of writing indicates that rationalism has been a focus of discussion in economic writing since Classical times, through to the “rational” influence in economic policy making from neoclassical economic writing. But, the specific term “economic rationalism” gained wider usage after Pusey's book. From that time, the term was used outside academia as a disparaging means to criticise economic theorists and policy makers.

The research is limited by the ability to examine all the literature in the field in greater depth. However, this has been ameliorated by examining a sufficient sample of literature relevant to the concept of rationality in economic theory and policy.

This paper provides a useful critique – from the classics to the modern era – of the contribution made to economic theory and practice. It provides managers with a comprehensive historical overview.

This paper fulfils an identified need and gives support to executives and managers who have doubts about theological justification for some values and accountability procedures being employed in policymaking.

The purpose of this paper is to examine how economic rationalism in policy development affects incomes and social cohesion within the communities in which businesses operate. Inequality of income occurs in most, if not all, countries. Historically, economic statisticians established various means of measuring levels of inequality within a country. Measuring inequality between countries, however, is a complex procedure because of differences in money exchange rates and standards of living. Poverty exists in most countries but it is particularly extreme in the Asia‐Pacific Region and in Africa. Economic rationalistic policies that depend on the supremacy of the market are developed mostly without regard for their impact upon income share, fairness and social justice concerns. Some other economic rationalistic policy outcomes are detrimental to social cohesion within communities.

This paper draws upon earlier research undertaken by the author as well as upon published works of other researchers.

The analysis of this paper indicates that there are great income inequalities not only within nations but also between nations in the Asia‐Pacific Region.

The research is limited by the ability to examine all the research literature in the field in greater depth. However, the examination that has been possible indicates that where economic rationalism has a significant input in policymaking wide disparities in the distribution of incomes become apparent.

This paper provides government and corporate executives with an understanding that the policies they develop could advantage one section of the community over another. This could have a detrimental affect on the social cohesion of the communities they administer or in which their businesses operate.

This paper fulfils an identified need and supports policymakers seeking to achieve just outcomes in the communities in which they operate.

A methodological study of religion including moral, ethical, and social values and economics takes us into the search, discovery, and establishment of a formal epistemological premise. Social economics is now studied as a methodological investigation of evolutionary and embedded systems integrating the moral, social, and economic systems. Thus an integrated theory of religion representing the realm of moral and social values and economics is formalized. The paper aims to discuss these issues.

The author writes on the conjoint methodological perspective of the integrated domain of religion and economics. A formal ontology of the unified field of religion and economics is established in such an inter-causal and organically unified realm of moral, social, and economic values. A phenomenological model of the unified worldview that applies to a systemic concept of “everything” emerges. This methodology and the immanent phenomenological model relating to it convey the principle of inter-systemic organic symbiosis by a unique and universal worldview.

The systemic integration between religion and economics is formally studied within the immanent system methodology that formalizes inter-disciplinary symbiosis. The result is a new formal model of integration between religion and social economics.

Empirical work can further expand the scope of the paper.

Immense social, ethical, and cross-cultural implications emanate from the study.

The morality and ethical implications of religious values are imputed in the formal model and implications of the social economy.

The paper is of an original nature in establishing the episteme and formalism of integration between ethical and moral values of religion into the structure of the social economy. From this both a theoretical rigor as well as logical formalism can be drawn.

To reexamine the Weber Thesis pertaining to the relationship between ascetic Protestantism – especially Calvinism – and modern capitalism, as between an economic “spirit” and an economic “structure,” in which the first is assumed to be the explanatory factor and the second the dependent variable.

The chapter provides an attempt to combine theoretical-empirical and comparative-historical approaches to integrate theory with evidence supplied by societal comparisons and historically specific cases.

The chapter identifies the general sociological core of the Weber Thesis as a classic endeavor in economic sociology (and thus substantive sociological theory) and separates it from its particular historical dimension in the form of an empirical generalization from history. I argue that such a distinction helps to better understand the puzzling double “fate” of the Weber Thesis in social science, its status of a model in economic sociology and substantive sociological theory, on the one hand, and its frequent rejection in history and historical economics, on the other. The sociological core of the Thesis, postulating that religion, ideology, and culture generally deeply impact economy, has proved to be more valid, enduring, and even paradigmatic, as in economic sociology, than its historical component establishing a special causal linkage between Calvinism and other types of ascetic Protestantism and the “spirit” and “structure” of modern capitalism in Western society at a specific point in history.

In addition to the two cases deviating from the Weber Thesis considered here, it is necessary to investigate and identify the validity of the Thesis with regard to concrete historical and empirical instances.

The chapter provides the first effort to systematically analyze and distinguish between the sociological core and the historical components of the Weber Thesis as distinct yet intertwined components.

The economic, financial, social, and scientific reasoning in Occidentalism is a profound example of the reasoning dichotomy caused by the problem of heteronomy. The duality consequences of economic rationality and rationalism between the spiritual and material domains remain entrenched in all the sciences (Dampier, 1961).

This study analyzes which worldviews on the interrelatedness of the economic, environmental and social systems are adopted in the literature on responsible management education (RME) and explores how this affects the way business schools educate future responsible managers.

The sustainability-focused relational worldviews of Kurucz et al. (2014) were used to perform a content analysis on 100 articles from the field of RME to understand which worldviews are adopted and to distill potential implications of the prevalence of such worldviews in the RME field.

In the sample, the most adopted view was the intertwined view that imagines a balance between the economic, environmental, and social system (61% of the articles). The subsuming worldview (highlighting the business case for sustainability) accounted for 8% of articles in the sample. The embedded worldview (a new paradigm that respects the limitations of the environmental and social systems) accounted for 31% of the articles in the sample. The disparate view (representing classic economic views of discrete systems) was not adopted, indicating a rather uniform belief that RME is about moving management education away from this view. Examining the evolution of views over the last 20 years, it can be observed that the embedded view is growing in popularity. The continuing prevalence of the ambiguous and malleable intertwined view in the RME literature could explain why so many RME initiatives have been taken in the last two decades, while simultaneously critics remain vocal that business schools are not preparing future managers to engage with ethics, responsibility, and sustainability (ERS).

While sustainability-focused relational worldviews have been introduced in the RME literature, this study provides empirical evidence of the prevalence of such worldviews in the literature, allowing an exploration of the implications for the field. The presence of multiple — and at times competing — worldviews adds tension to the field of RME. Seen on the trajectory of increasingly progressive worldviews, the intertwined view is not limited by economic rationalism (like the subsuming view) but also stops short of requiring a full paradigm shift (like the embedded view).

The purpose of this paper is to argue that the legacy of instrumental rationality has had a profoundly impoverishing effect on rational accounts of organisation, and that even though non‐rational accounts move beyond instrumental rationality, they remain tied to economist assumptions. The paper outlines the broader Weber and Habermas's model of rationality, and demonstrates its application.

Drawing on verbatim quotes from a sampling of 35 in‐depth interviews, the paper reveals the range of very different rationalities expressed in the social relations of work, of four very specific types of organisation: a bureaucracy, an entrepreneurial unit, a producer co‐operative and a worker co‐operative.

The paper outlines two ideal sets of findings, ideal in the sense that in two of the organisations the rationalities, social relations of work and associated outcomes fit well with the Weber and Habermas model of instrumental strategic action and social strategic action.

This study shows the potential for broader rationality as it plays out in the workplace. The notion of workplaces that free workers to contribute in socially strategic ways points to new approaches to management and organisation.

The paper offers practical insights into social relations built on co‐operation, moral judgement and communication.

The power of the idea of broader rationality is that being more rational, i.e. attending to more than a narrow impoverished view, provides the prospect of action advancing the social and the economic in a profound way.

Discusses the concept of a well‐functioning economy and attempts to define its principal properties. Examines some aspects of rules of decision making that are essential for the generation of optimal decisions. Brings together the selected properties of a well‐functioning economy and the characteristics of decision making, in order to shed light on how a well‐designed decision‐making system can produce an economy that functions and performs well. Comments on the failure of central planning in eastern Europe and the former Soviet Union.

The purpose of this paper is to examine the effect of religiosity on Muslim consumer behaviour and on purchasing decision.

Survey comprised a sample of 232 Muslims from the middle‐ and upper‐income groups who work in Shah Alam and Bangi in the Selangor state of Malaysia.

The findings indicate that religious Muslims in Shah Alam and Bangi area consider Islam as their source of reference and they spend moderately, as commanded by Allah in the Quran. This study confirms that religiosity acts as a full mediating role in the relationship between relative and contextual variables, and purchase behaviour of Muslim consumers.

The paper's interesting findings serve to remind entrepreneurs that they cannot neglect the element of religion in their marketing activities, particularly in the development of products.