Happiness and the market: the ontology of the human being in Thomas Aquinas and modern functionalism

In this paper, we aim at identifying a concept of man that can represent a reference point for those who work or supervise social processes characterized by commercial or economic purposes. Economic, management, and organizational theories and ideas have a large impact on the way we think of ourselves, and we act accordingly. By making a radical departure from the ontological assumptions, this paper proposes a shifting of the current paradigm in terms of how we theorize about man. In order to do this, we analyze the ontological level of the relationship between the idea of happiness and the concept of man from medieval scholastics, and the relationship between the idea of happiness and functionalism in social science. We first prove the formal equivalence between the structures of human choice as described in the qq. 6–21 Prima Secundae of the Summa Theologiae of St. Thomas Aquinas, and the model of problem‐solving behavior as conceptualized in popular management models. Then we show that the Aquinas theory of action could provide a more adequate view of economy and business in the sociocultural and environmental context in which they operate. Finally, we present the implications of this study for management theory, practice, and education.