An economist argues that for a model to be scientifically rigorous, it must be built on the assumption that individuals act solely to maximize their own monetary wealth, disregarding any ethical or altruistic motivations. Based on the foundational principles articulated by Alfred Marshall, how would he most likely respond to this argument?

Alfred Marshall, in his foundational work Principles of Economics, argued that a successful abstract science of economics must be built upon the concept of an 'economic man' who is uninfluenced by ethical considerations and solely pursues personal financial gain.

Marshall's Critique of the 'Economic Man'

Marshall's View on Economic Models

In his foundational 1890 work, Alfred Marshall criticized the idea of a purely self-interested 'economic man,' stating that successful economic analysis must take ______ forces into account.

Applying Marshall's Economic Philosophy

Match each statement with the economic viewpoint it best represents.

Evaluating the Modern Relevance of Marshall's Economic Philosophy

An economic advisor is tasked with designing a program to encourage unemployed individuals to accept jobs in a different city. The advisor's final proposal is based on the assumption that a simple cash bonus, calculated to be slightly more than the individuals' perceived relocation costs, will be sufficient to motivate the move. According to Alfred Marshall's views on the limitations of economic theory, what is the primary weakness of this proposal's underlying assumption?

Marshall's Rationale for Including Ethics