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Finance and Credit
 

Irrational economics phenomenon: its interpretations, features, contradictions

Vol. 16, Iss. 22, JUNE 2010

Available online: 27 May 2010

Subject Heading: Economy questions

JEL Classification: 

Shevchenko I.V. doctor of economic science, professor, Kuban state university
bondarev@mail.kubsu.ru

Bondarev D.G. senior lecturer the department of economic and mathematical methods and models, Kuban state university
bondarev@mail.kubsu.ru

Today's crisis is caused by detachment of modern economy from actuality, its shift towards over-real relations and categories, and financilization. This fact proves inadequacy of libertarian economic model and particularly rational market concept. Historically, speculative factor features capitalism and in case of facing overcapitalization together with uneven distribution of capital adds transcendent qualities to actual commodities and generates virtual commodities. This favors irrational acts by economic agents due to inability to nominate the definite exchange value of such commodities. Thus we can declare irrational economy a present phenomenon which testifies its speculative nature and exists within immaterial superstructure to real economy.

Keywords: irrationality, superstructure, profit, speculation, myth, virtual, added value, overcapitalization, reification, overconsumption, overproduction, commodification

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ISSN 2311-8709 (Online)
ISSN 2071-4688 (Print)

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