This elaboration starts by deciphering modern science as a social subsystem being loosely coupled to the rest of society (section 2.1). Additionally, the way in which modern (monistic) economics was generated within this subsystem will be sketched (section 2.2). This will be contrasted with the...

What do economists mean when they talk about "capital accumulation"? Surprisingly, the answer to this question is anything but clear, and it seems the most unclear in times of turmoil. Consider the recent "financial crisis". The very term already attests to the presumed nature and causes of the...

Economic, financial and social commentators from all directions and persuasion are obsessed with the prospect of recovery. The world remains mired in a deep, prolonged crisis, and the key question seems to be how to get out of it. The purpose of our paper is to ask a very different question that...