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Prevailing Culture and Narratives for Constructing Reality: Case Study of Economic Crisis

In: The Knowledge of Culture and the Culture of Knowledge

Author

Listed:
  • Elias G. Carayannis
  • Ali Pirzadeh

Abstract

Almost twenty years ago Kuttner observed a culture that ‘prizes risk also reaps insecurity’.1 In Everything for Sale, Kuttner explores the circumstances under which the key objectives of a culture are reduced to the billboard that reads, ‘everything is for a sale’.2 He contends that ‘one thing market society does well is to allow its biggest winners to buy their way out of its pathologies’.3 Using the second best theorem, he also provides ample explanations why the removal of distortions, e.g., regulating the deregulated financial sector, does not improve the overall condition since the problem is more related to fundamentals.

Suggested Citation

  • Elias G. Carayannis & Ali Pirzadeh, 2014. "Prevailing Culture and Narratives for Constructing Reality: Case Study of Economic Crisis," Palgrave Macmillan Books, in: The Knowledge of Culture and the Culture of Knowledge, chapter 5, pages 111-142, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-137-38352-5_5
    DOI: 10.1057/9781137383525_5
    as

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