Abstract

I explore some enlightening alternative economic theories in Plato’s Republic which help to cast doubt on standard models of rationality in economics. Starting from Socrates’ suggestion that things work best if everyone says ‘mine’ about the same things, I discuss a kind of ‘belonging’ which merits more attention in political and economic theory. This kind of belonging is not about owning property, but it can (better) explain the desire to do things for others and for the collective good. But did Socrates forget to invoke it when addressing the puzzle about why the philosopher would willingly return to the cave?