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Dissensions and Distances of Ideology to Reality: The Origins and Mitigations of Radical System Uncertainty from Dialectic Diagnosis

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  • Beryl Y. Chang

    (Beryl Y. Chang, PhD, Associate Professor (Adj), Department of Economics, School of Arts and Sciences, Columbia University, New York, NY 10023. E-mail: beryl.chang@columbia.edu)

Abstract

Market practices since the industrialization in the West have followed a formal dualist system or monist reductionist system, where the former treats the opposites, for example, gain and loss, as mutual exclusives and the latter regards each practice as an independent or separable component. However, in light of the global economic recession that originated from the financial and property markets in the United States (US), many implore an explanation of the mechanisms of economic components in a market system and yearn for an outcome that transcends those from either the formal dualist or the monist reductionist practice that led to system collapse. Subsequently, this article presents strands of dialectic laws and principles in seeking understandings and resolutions of conflict reflecting industrial development in technology and innovations in a complex economic system.JEL: D81, G01, G02, G18, G21, Z13

Suggested Citation

  • Beryl Y. Chang, 2014. "Dissensions and Distances of Ideology to Reality: The Origins and Mitigations of Radical System Uncertainty from Dialectic Diagnosis," Journal of Interdisciplinary Economics, , vol. 26(1-2), pages 1-32, January.
    • Handle: RePEc:sae:jinter:v:26:y:2014:i:1-2:p:1-32
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    Keywords

    Dialectics; dualism; reductionism; uncertainty; market practice; complexity;
    All these keywords.

    JEL classification:

    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
    • G01 - Financial Economics - - General - - - Financial Crises
    • G02 - Financial Economics - - General - - - Behavioral Finance: Underlying Principles
    • G18 - Financial Economics - - General Financial Markets - - - Government Policy and Regulation
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • Z13 - Other Special Topics - - Cultural Economics - - - Economic Sociology; Economic Anthropology; Language; Social and Economic Stratification

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