Download Economy and the future : a crisis of faith by Jean-Pierre Dupuy, Malcolm B. DeBevoise PDF

By Jean-Pierre Dupuy, Malcolm B. DeBevoise

A monster stalks the earth—a slow, craven, dumb beast that takes fright on the slightest noise and begins on the sight of its personal shadow. This monster is the marketplace. The shadow it fears is solid through a gentle that comes from the longer term: the Keynesian trouble of expectancies. it's this similar gentle that reasons the world’s leaders to tremble ahead of the beast. They tremble, Jean-Pierre Dupuy says, simply because they've got misplaced religion sooner or later. What Dupuy calls financial system has degenerated at the present time right into a mad spectacle of unrestrained intake and hypothesis. yet in its optimistic form—a actually political economic climate within which politics, no longer economics, is predominant—Economy creates not just a feeling of belief and self belief but in addition a trust within the open-endedness of the long run with no which capitalism can't functionality. during this devastating and counterintuitive indictment of the hegemonic pretensions of neoclassical monetary idea, Dupuy argues that the immutable and everlasting selection of God has been changed with the unpredictable and capricious judgment of the group. the way forward for mankind will for this reason rely on no matter if it could possibly see during the blindness of orthodox fiscal thinking.

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In a world where everything has a price, however, where economics can be said to buy politics—in the sense not only that it corrupts politics, but also that it drags politics down to its own level, since elected officials can now simply be paid off—politics is deprived of its power of self-transcendence. In this world economics dooms itself to extinction at the same moment that it condemns politics to the same fate. 3. I go on in the third part to advance a bold conjecture, but one that is firmly grounded in both theory and fact.

I have chosen furthermore to develop my argument with reference to the metaphysics of time. Not only has Economy invented a new conception of the future, it has given it unprecedented scope. This is part of what is meant by the original title of my book in French, L'avenir de l'économie: the relationship to the future that Economy makes possible, but only so long as it relies on the visionary powers of politics. When politics is preeminent, rather than subordinate, so that economics is properly understood to mean political economy, the effect is to open the future up to us, rather than to close it off.

This is the crucial connection I mentioned earlier, between domain and point of view, between social reality and the perception of it, that is captured in French by the word l'économie and in English by the new term I have suggested, Economy. We must therefore begin to think about Economy by repudiating the discipline that has taken from it both its name and its object of study. But we must also listen to economists very closely when they speak. It is no contradiction of what I have just said to acknowledge that neoclassical economic theory has produced works of prodigious ingenuity, even brilliance.

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