The article analyses the evolution of the «economic man» in terms of the formation and development of the industrial economic system. According to our hypothesis, as the system that demanded an «economic man» transforms into some other system, the «economic man» himself must also transform into a new being; otherwise, his competitiveness will either be undermined or lost. There are three stages of this transformation: individual, national and, supranational. The author observed the transition from the complete rationality of the «economic man», guided by a purely market equilibrium, to the pseudo-market (social) equilibrium of the «socio-economic man». It is absolutely reconciled with the principle of partial optimization (satisfaction). Note, that the effectiveness is the criterion of its sustainability. As a result, it allows us to conclude the ability of the «economic man» to maintain competitiveness in the XXI century, but only through his transformation from full rationality to limited one, from purely economic to socio-economic-ecological one. Also we made a forecast concerning with the increase in the rationality of non-economic goals of cooperation, mutual benefit, the coupling of knowledge and technology to spiritual, moral, cultural and ethical principles and norms. All mentioned actualizes M.I. Tugan-Baranovsky’s prediction on the fate of political economy, made more than a hundred years ago.