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Complexity

In: John Maynard Keynes and the Economy of Trust: The Relevance of the Keynesian Social Thought in a Global Society

Author

Listed:
  • Donatella Padua

    (Università per Stranieri di Perugia)

Abstract

In this chapter Padua analyses the Keynesian organic interdependency within the environmental complexity of the current socio-economic system. The consequences of such a complex scenario are: inability to predict; need for a holistic vision; and causes not attributable to the effects. By assuming a progressive prevalence of the intangible over the tangible dimension, in opposition to the ‘Real economy’, Padua explains the original concept of ‘Nominal economy’ as a form of unregulated and unethical speculative economy operating in the complex global financial environment, generating wealth asymmetries and a tendency towards fluctuations. This opposition justifies an evolution of the meaning of value in the current economy, reflecting the dualism between the roles of goods (tangible) and reputation (intangible) in the process of building value.

Suggested Citation

  • Donatella Padua, 2014. "Complexity," Palgrave Macmillan Books, in: John Maynard Keynes and the Economy of Trust: The Relevance of the Keynesian Social Thought in a Global Society, chapter 1, pages 6-32, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-137-46723-2_2
    DOI: 10.1057/9781137467232_2
    as

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