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Theoretical and Applied Economics
No. 1 / 2013 (578)

The underground macroeconomics

„Like Physics, which cannot yet explain 96% of the substance in the Universe, so is Economics, unprepared to understand and to offer a rational explicative model to the underground economy.”

The habit of conceptualizing certain components of the economic reality from a moral perspective functions as a barrier to the truth. That is the predicament of the concept of underground economy, which - though excessively themed - is incompletely theorized, expelled from the core of economic theory and minimally formalized. Thus reality undergoes statistical approximation, is indirectly evaluated and treated in normative terms.

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The underground macroeconomics
Marin Dinu

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The Economicity. The Epistemic Landscape, Marin Dinu, 2016

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