Intangible Flow Theory in Economics: Human Participation in Economic and Societal Production

The dominant economic explanations of the 20th century are insufficient to explain the complexity of economy and society, and intangible flow theory presents a new theory that challenges economics and relativism. It suggests that economic and societal production is fully integrated on the biosphere and that innovative theoretical explanations remain possible.

Format: Paperback / softback
Length: 324 pages
Publication date: 01 August 2022
Publisher: Taylor & Francis Ltd

The dominant economic explanations of the 20th century fall short in capturing the intricate complexity of economy and society, as well as their profound reliance on the biosphere. In response, Intangible Flow Theory in Economics presents a novel theory that challenges both economics and the relativism prevalent in social constructivism, poststructuralism, and postmodernism. This groundbreaking theory introduces the concept of intangible flows, which encompass economic elements such as physical goods or money, but are consummated by intangible flows that cannot yet be precisely appraised in terms of actual or approximate value. These intangible flows include workflows, service flows, information flows, and communicational flows, among others.

The central premise of this theory is to provide a systematic alternative to the human commodity framework and the related conjectures, such as human capital, human resources, and human assets. By highlighting the interdependence between economic and societal production and the biosphere, the theory challenges the notion that humans can be reduced to mere commodities in the economic realm. Instead, it proposes that economic and societal production are fully integrated within the biosphere, forming a holistic and interconnected system.

Contemporary relativism, on the other hand, advocates for the end of theory development, the suspension of evidence, and the entrenchment of knowledge validity within local systems, often referred to as paradigms, epistemes, research programs, truth regimes, or other terms. This relativism implicitly supports dominant theories, such as the human commodity framework, by preventing the creation of new theoretical explanations. However, intangible flow theory goes against this trend by demonstrating that innovative theoretical explanations are still possible.

This book holds significant interest for students and scholars engaged in the fields of political economy, economic sociology, organization, economics, and social theory. It offers a fresh perspective on the dynamics of economy and society, challenging established paradigms and providing a roadmap for future research and inquiry. By exploring the interplay between intangible flows, the biosphere, and social structures, this theory contributes to our understanding of the complex and interconnected world we inhabit.

Weight: 620g
Dimension: 234 x 156 (mm)
ISBN-13: 9780367644154