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Intangible Flow Theory

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  • TIAGO CARDAO‐PITO

Abstract

The intangible flow theory explains that flows of economic material elements (such as physical goods; or cash) are consummated by human related intangible flows (such as work flows; service flows; information flows; or communicational flows) that cannot be precisely appraised at an actual or approximate value, and have properties precluding them from being classified as assets or capitals. Therefore, although mathematical/quantitative research methodologies are very relevant for science, they are insufficient to study economy and society. Due to its prejudice against non mathematical/quantitative scientific reasoning, neo-classic economics could not be technologically prepared to reach the intangible flow dynamics of economic phenomena. Furthermore, the neo-classic solution to call people human assets or human capital, besides being ethically very questionable, offers performative non-scientific metaphors that intervene in the production of the reality they claim to represent; and sabotages the study of well delimited research questions by scientific approaches outside the realm of neo-classic economics.

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File URL: http://hdl.handle.net/10.1111/j.1536-7150.2012.00833.x
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Bibliographic Info

Article provided by Wiley Blackwell in its journal American Journal of Economics and Sociology.

Volume (Year): 71 (2012)
Issue (Month): 2 (04)
Pages: 328-353

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Handle: RePEc:bla:ajecsc:v:71:y:2012:i:2:p:328-353

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  1. Antonio Ciccone & Giovanni Peri, 2006. "Identifying Human-Capital Externalities: Theory with Applications," Review of Economic Studies, Wiley Blackwell, vol. 73(2), pages 381-412, 04.
  2. Mary M. Crossan & Marina Apaydin, 2010. "A Multi-Dimensional Framework of Organizational Innovation: A Systematic Review of the Literature," Journal of Management Studies, Wiley Blackwell, vol. 47(6), pages 1154-1191, 09.
  3. Gary S. Becker, 1962. "Investment in Human Capital: A Theoretical Analysis," Journal of Political Economy, University of Chicago Press, vol. 70, pages 9.
  4. Beed, Clive & Kane, Owen, 1991. "What Is the Critique of the Mathematization of Economics?," Kyklos, Wiley Blackwell, vol. 44(4), pages 581-612.
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