Crisis Singularity and Crisis Periodicity

Emil Dinga
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Emil Dinga: Romanian Academy

Chapter Chapter 4 in Economic Resilience During Overlapped Crises, 2025, pp 205-264 from Springer

Abstract: Abstract The chapter delivers some reflections on the concept of singular economic event, starting from the concept of economic as well as from the distinction between the natural world and the economic (larger, social) world from an ontological perspective. In this context, the chapter shows we never meet economic phenomenon, but only its historical hypostases: economic events. Some discussions are developed regarding the probability of the objective singular event in the society (the propensity) and, in such context, the concept of presdiction (prediction combined with prescription) is proposed and examined for the cultural world. Based on the previous is further developed a proposal referring to the phenomenology of the societal crisis, in an abstract and general way. More exactly it is assumed that the genuine crisis is always a nominal one, which, in some conditions can pass into a financial crisis which, in turn, can (or not) pass into a real crisis. The main point here is the idea of the fundamental (and unique) cause of any economic crisis (which is, as said, always a nominal one), namely the unstable increase of the independence (autonomy) of the nominal flows related to the (initial and grounding) real flows—what is usually called: financial (correctly: nominal) bubble.

Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-031-80224-9_4

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DOI: 10.1007/978-3-031-80224-9_4

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