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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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Suggested Citation

  • Tiago Cardao‐Pito, 2012. "Intangible Flow Theory," American Journal of Economics and Sociology, Wiley Blackwell, vol. 71(2), pages 328-353, April.
    • Handle: RePEc:bla:ajecsc:v:71:y:2012:i:2:p:328-353
    DOI: j.1536-7150.2012.00833.x
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    References listed on IDEAS

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    1. Antonio Ciccone & Giovanni Peri, 2006. "Identifying Human-Capital Externalities: Theory with Applications," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 73(2), pages 381-412.
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    3. Gary S. Becker, 1962. "Investment in Human Capital: A Theoretical Analysis," NBER Chapters, in: Investment in Human Beings, pages 9-49, National Bureau of Economic Research, Inc.
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    5. Clive Beed & Owen Kane, 1991. "What Is the Critique of the Mathematization of Economics?," Kyklos, Wiley Blackwell, vol. 44(4), pages 581-612, November.
    6. Zephyr, 2010. "The city," City, Taylor & Francis Journals, vol. 14(1-2), pages 154-155, February.
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    Cited by:

    1. Tiago Cardao-Pito & João Silva Ferreira, 2018. "‘Fair Value’ accounting as the normative Fisherian phase of accounting," Accounting History Review, Taylor & Francis Journals, vol. 28(3), pages 149-179, September.
    2. Tiago Cardão-Pito, 2021. "Academic discipline of economics as hedonist philosophy," The Journal of Philosophical Economics, Bucharest Academy of Economic Studies, The Journal of Philosophical Economics, vol. 14(1-2), pages 199-207, November.
    3. Tiago Cardao-Pito, 2017. "Classes in Maximizing Shareholders’ Wealth: Irving Fisher’s Theory of the Economic Organization in Corporate Financial Economics Textbooks," Contemporary Economics, University of Economics and Human Sciences in Warsaw., vol. 11(4), December.
    4. Júlio Paulo da Silva Martins, 2008. "Management Control Of Intangibles," Portuguese Journal of Management Studies, ISEG, Universidade de Lisboa, vol. 0(3), pages 307-325.
    5. Tiago Cardao-Pito, 2017. "Organizations as Producers of Operating Product Flows to Members of Society," SAGE Open, , vol. 7(3), pages 21582440177, August.

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    JEL classification:

    • A12 - General Economics and Teaching - - General Economics - - - Relation of Economics to Other Disciplines
    • B4 - Schools of Economic Thought and Methodology - - Economic Methodology
    • A14 - General Economics and Teaching - - General Economics - - - Sociology of Economics

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