The Feasibility of Affecting Ethics on Micro and Macroeconomic Foundations

This paper discusses the conventional concept of economic rationality and talks about its criticisms raised and try to modify this concept with respect to them so that it becomes more corresponding to economic human life. In this paper, the library research method has been used to reflect some ideas about the ne¬cessity of changing the concept of economic rationality and modifying it from some famous econo¬mists. The new concept of economic rationality called extended rationality has been de-rived. Comparative analysis of different effects of the two concepts show that the entrance of eth¬ics in economic discussions- such as Life- Cycle Hypothesis and efficiency of pollution tax- may affect them and suggests the new solutions or make considerable quantitative or qualitative changes to them. It may be possible to objectify the extended rationality presumption by revising pub-lic culture and correcting it in such a way that ethical values and norm are institutionalized in soci-ety.