Intangible flow theory

Cardao-Pito, Tiago (2011) Intangible flow theory. American Journal of Economics and Sociology, 71 (2). pp. 328-353. (https://doi.org/10.1111/j.1536-7150.2012.00833.x)

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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 neoclassic economics.

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