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Theoretical and Applied Economics
No. 2 / 2010 (543)

The Economic Caesura

„I believe that most theoreticians would claim that a good economic theory is concerned with the interesting results in the models in which all the factors are engaged into an individual behavior of maximization.”
George A. Akerlof

The present crisis has highlighted the weak consistency of the symbolic economy's function, especially when it tried to legitimize phenomena that lie outside the production function's determinant sphere of meaning. The consequence most evident is the self-stimulating pressure for profit. The symbolic economy frenetically invents its performance algorithms counting on the hypothesis of that which could be called exclusive sufficiency. Fictitious money - in its extremely various technical expressions - constitutes the unlimited substance of success sought by the symbolic economy.

In this formula, practically the symbolic economy - particularly in its stock-exchange guise - introduces a total caesura with the production function, generating its own universe of value-creation.

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The Economic Caesura
Marin Dinu

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The Economicity. The Epistemic Landscape, Marin Dinu, 2016

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