The article discusses Herbert A. Simon's work on rational decision making in business organizations. Simon argues that economic science has traditionally focused on the rational application of reason to resource allocation, but modern economic science also explores areas traditionally associated with political science, sociology, and psychology. He emphasizes the importance of decision theory in economic science, particularly in understanding the behavior of firms. Simon critiques the narrow view that economics is only concerned with aggregate phenomena, arguing that it neglects the rich domain of rational human behavior. He also highlights the importance of empirical testing of economic theories, noting that classical theories of perfect rationality may not always be supported by empirical evidence. Simon discusses the concept of bounded rationality, where decision makers do not have complete information or computational capabilities, and instead rely on satisficing strategies. He also explores the implications of bounded rationality for political economy and the development of decision-making theories. The article concludes with a discussion of the neoclassical revival in economics and the challenges faced by the economics profession in balancing different areas of economic theory.The article discusses Herbert A. Simon's work on rational decision making in business organizations. Simon argues that economic science has traditionally focused on the rational application of reason to resource allocation, but modern economic science also explores areas traditionally associated with political science, sociology, and psychology. He emphasizes the importance of decision theory in economic science, particularly in understanding the behavior of firms. Simon critiques the narrow view that economics is only concerned with aggregate phenomena, arguing that it neglects the rich domain of rational human behavior. He also highlights the importance of empirical testing of economic theories, noting that classical theories of perfect rationality may not always be supported by empirical evidence. Simon discusses the concept of bounded rationality, where decision makers do not have complete information or computational capabilities, and instead rely on satisficing strategies. He also explores the implications of bounded rationality for political economy and the development of decision-making theories. The article concludes with a discussion of the neoclassical revival in economics and the challenges faced by the economics profession in balancing different areas of economic theory.