Truth Values in the Economic Logics

The bivalent logic usually performed in the economic discipline and thinking seems be unsatisfactorily because in the social field almost all the actions are based on teleology, i.e. on the goals. Consequently, the paper discusses a proposal to introduce tetravalent logics in the social field (so, in the economic one), that exhibits four truth values. In this context, the paper develops some considerations regarding the conceptual and methodological issues associated with the tetravalent logics proposal

Discretionary Policy versus Non-Discretionary Policy in the Economic Adjustment Process

The study aims to examine the concept of automatic fiscal stabilization in the context of macroeconomic adjustment policies. To this end, first a conceptual distinction between discretionary public adjustment policies and non-discretionary ones is achieved. Second, sufficient and necessary attributes for an automatic fiscal stabilizer are identified and examined, in order to obtain a definition of this instrument. The whole research approach is characterized by a logical and abstract way of thinking, to provide a general and non-contextual result. Finally, a general mechanism of action of automatic fiscal stabilizers is proposed, by introducing the basic concepts of action base and of action rate of such an instrument.sustainability, fiscal policy, automatic fiscal stabilizers, discretionary versus nondiscretionary, principle of the minimal action

Modeling the Financial Behavior of Population (I) – Conceptual Assignations

The paper shows a few conceptual assignations concerning the financial behavior of the population. Thus, there are defined attached predicates (the inclusion into the economic behavior category, the existence of a monetary factor, the action for goods and non-autonomous flows, as well as for goods and nominal flows), the sources that generate the financial behavior (acquisition of real goods and services, acquisition of financing sources, acquisition of saving sources), the process of non-autonomous financial flow formation and finally, there are identified categories of nominal flows attached to the financial behavior of the population.logic model, financial behavior, sustainability

CONCEPT OF SUSTAINABILITY – A LOGICAL APPROACH

The paper aims to achieve a definition of the concept of sustainability and of sustainable system from a logical perspective. In this respect, it introduces and defines (through the sufficiency predicates) the concept of logically vivid system and, on this basis, are discussed a logical concept of sustainability, respectively of a sustainable system in general are discussed and built up. Sustainability is considered in light of identity preservation of the systems, as a static anchor, on one hand, and of the concept of automatic stabilizers as a dynamic anchor on the other side. Finally, the two sufficiency conditions for a logically vivid system be sustainable are identified: the presence of hyper-cycles, respectively the absence of positive feed-back

Proference: Behavioural Mix Between Propensity and Preference on Financial Market

The origin of economic preference is still disputable inside general economic theory and, especially, inside microeconomics (more specifically, regarding financial market functioning). The invariant vs. adjustable nature, or the objective vs. subjective character of the economic preference are within the core of conceptual, methodological, and instrumental debates and controversies. The paper enters this polemic with a new proposal, namely a model which builds, for the behaviour on financial market, the concept of propensity (coined by Karl Popper), from the objective/invariant side, and the concept of preference, as a behavioural mix which could be named as proference. To this end, the normative framework of society, viewed as a cultural geodesic will is aimed at to give the relative stability to the preference which, in turn, will act in an adaptive way on the cultural geodesic, in an evolutionary circular causality. Therefore, a new mechanism of financial market functioning – which could be named as Proference-Based Market Hypothesis (PBMH) – is proposed and (in its essential features) discussed. The main findings of the research are: a) although the economic preference is, generally, idiosincratic, however it is (necessarily) anchored to a quasi-objectified (not objective!) pillar, namely, to the cultural geodesic of the society as a whole; b) any economic preference is adaptive, and its adaptivity is so that it enters a co-evolution process with the cultural geodesic; c) in fact, on the financial market we always meet the preference, never we meet neither the propensity (that is, the cultural geodesic per se), nor the preference (that is, the idiosyncrasy per se); d) the concept of preference should be taken over by the financial theory and introduced into the logical and quantitative models of the financial market

A comment on 'Comment on the law of supply and demand'

The paper briefly discusses some issues approached in the study ‘A comment on the law of supply and demand’ by M. Northrup Buechner, published in this issue of J Phil Econ. The way of discussing is logical-theoretical, without bringing into attention empirical data. Even less than that, only a few of the issues debated in the original study are examined, namely those issues which appeared to this author as both the most problematic and susceptible to drive the future discussion in the matter

On an Increasingly Yield Curve of Knowledge

The paper examines the behaviour of the yield curve of the knowledge considered as production factor. The concepts of complementarity and substitutability among classical production factors are revisited in order to put the bases to analyse the special production factor (a species of the neo-production factors) namely knowledge. In this context, some distinctions are made between information and knowledge putting in view the added value of knowledge related to information. Some graphical construction and algebraic formalisms are convoked in order to better ground the final conclusions regarding the increasing nature of the knowledge yield curve in the knowledge-based society. The approach is preponderantly logic and conceptualized, trying to get general results which could then be tested, by other researchers, in order either to corroborate or to reject them

About some Methodological Aspects of Budgetary Sustainability

This paper is aimed to debate some conceptual and methodological issues concerning the designing and analyzing of the public budget. In the context, the issue of the necessary distinction between the target-objectives and the operational variables in the process of designing the public budget is approached as well as the problem of ensuring the constancy (along the indifference curve) of the fiscal revenues. Some questions concerning the spillovers generated by the designing the public budget are also answered: the correlation between the absolute and relative dynamics of the GDP, the analytical condition to stimulate the entering of the official economy by the underground economy, the lag which is associated with the reaction of the tax base to the fiscal relaxation, the quantifying of the collecting degree of the public revenues, the analytical condition to reach a done weight of the budget over the GDP. All the mentioned issues are treated in a technical way in order to offer to analysts and to decision makers either useful suggestions or criticism base

Asupra modelării macroeconomice. Aspecte metodologice

The paper analyses the presuppositions (often implicit) the actual quantitative and logical modelling is based on. In the context, some points of view are proposed, aimed at to eliminate or reduce the incertitude and vagueness generated by the actual way of understanding the macroeconomic modelling.model, invariance, diffusion reactions, self-poiesis, transfer equations, transmission mechanism, sectoral block

Sustainability and Dissipative Systems

The paper is concerned on the important issues of the causal or structural relations between the sustainability of the whole Universe and the dissipative systems in our bubble of Universe. Based on the gap between the general entropy velocity and the entropy velocity inside the dissipative systems, a taxonomic criterion for identifying the classes of dissipative systems is captured and operated. In this context, the correlation between the entropic sustainability and the dissipative systems is examined and concluded. The paper argues for the necessity (in the logic order) to pass from the optimal rationality to the sustainability rationality, based on the entropy conclusions and predictions (in the matter, three types of social rationality are identified and logically characterized*. In addition, the paper analyzes the arguments to assert that the complementary environment of a done dissipative system is complementary only in a relative way. This relativity is examined from the perspective of the Prigogine’s principle of the minimum production of entropy (for the mentioned principle, the paper aims to provide a sui-generis demonstration), by proposing the concept of the minimum entropic gradient as anchor of the entropic interaction in the Universe. All these results or observations could be used by other researchers to apply them to the economic systems which are, of course, dissipative systems