Amartya Sen's Rational Fools

a commented translation

Abstract

This article presents a commented translation of Amartya Sen's seminal work, "RATIONAL FOOLS: A CRITIQUE OF THE BEHAVIORAL FOUNDATIONS OF ECONOMIC THEORY" (1977), translated into Portuguese as "OTÁRIOS RACIONAIS: UMA CRÍTICA DOS FUNDAMENTOS COMPORTAMENTAIS DA TEORIA ECONÔMICA". Sen's work is described as a manifesto that challenges the concept of the  homo economicus—an agent motivated solely by self-interest—and critiques the foundations of dominant economic theory. The article's introduction contextualizes Sen's revolutionary impact, exploring his critique of preference theory, his questioning of methodological egocentrism, and his deconstruction of the problem of transitivity. The text also discusses the translation choices made, with an emphasis on the selection of "otários racionais" for the title, which, according to the translators, better represents Sen's satire on the limited description of the rational actor in classical economic theory. The choice of the term "otário" is justified as describing a person who is deliberately unpleasant and calculating, as opposed to terms like "tolo" or "bobo," which suggest naïveté or an unthinking behavior. Another crucial translation decision was the differentiation between "simpatia" (sympathy) and "compromisso" (commitment), which are central concepts in Sen's critique. The translators chose "comprometimento" to capture the idea of an individual acting out of a sense of social responsibility rather than a formal obligation, often influenced by the fear of social retaliation. The article argues that Sen's view leads to a richer and more human conception of rationality, reintegrating ethics, context, and psychology into economic and political analysis.