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.”
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.
Contents
The Role of Stress-test Scenarios in Risk Management Activities and in the Avoidance of a New Crisis
On the Intensity of International Subsidy Competition for FDI
About How Did the First Ever Big Economic Crisis Look Like
The Role of Empathy in Developing the Leader’s Emotional Intelligence
The Health of the Economy as a Living Organism
The Role of Internal Audit in Optimization of Corporate Governance at the Groups of Companies
Banking Risk Management in the Light of Basel II
A Historical Approach of the Population Role in the Economic Development (Ancient period – the nineteenth century)
The Liability of the Employer and the Liability of the Employees between Civil Law and Labour Law