By Jean-Pierre Dupuy, Malcolm B. DeBevoise
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Extra resources for Economy and the Future: A Crisis of Faith
Example text
No, what I have in mind is the place that economic affairs, as well as the professional study of these affairs, occupy both in our personal lives and in the functioning of the societies in which we live. The role Economy plays is exorbitant by any reasonable standard—and yet we find nothing in the least unusual about this. Not only has the influence of Economy spread throughout the world, it has taken over our very ways of thinking about the world. 8 Only from a more remote perspective, freed from the sway of Economy, will it be possible to find a reason for astonishment at what now is taken for granted by the modern citizen, who has wholly and completely become, without even knowing it, Homo economicus.
Its interest derives from a set of remarkable properties that make it possible to resolve an otherwise intractable problem (assuming one refrains from invoking a deus ex machina, in this case ethics), namely, of accounting for the existence of such evanescent notions as trust and confidence in the open-endedness of the future, without which capitalism could not function. It is owing to these things, in other words, that Economy becomes moral and political. This does not mean that it takes the place of politics, quite to the contrary.
For today we are aware that bad and good violence are, in the last analysis, the same violence. This lucidity has a price, however, for it utterly undermines the foundations of the present economic order, and we are at a loss to say what should be put in its place. 2. ” I go on in the second part to show that this logic, not the purely internal state that economists call “equilibrium,” is what underlies the self-organizing properties of markets. The self-transcendence of market prices provides a first example.