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Theoretical and Applied Economics
No. 8 / 2009 (537)

The liquidity crisis of trust

„I believe that the only important hurdle on the path to global prosperity is represented by the old doctrines from which the mind of man cannot distance itself.
Paul Krugman

The transmigration of economic thinking towards psychology is the most sophisticated expression of its contamination by the assumptions of ideologies. Obsessed by omnipotence, the ideologies resort to emotional thinking in order to make up for the deficit in rational consistency.

In the last two decades in particular, the failure of the economic reasoning in psychologism is a capital reason for the global crisis started in 2007. The problem of the ideologies is a part of the exit from the crisis. The solution to this problem does not imply the extinction of ideologies, but the annihilation of their turbulent effect on rationality.

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The liquidity crisis of trust
Marin Dinu

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The Economicity. The Epistemic Landscape, Marin Dinu, 2016

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