Data on Socioeconomics Reported by Researchers at University of Technology
2012 MAY 11 - (VerticalNews.com) -- According to the authors of recent research published in the American Journal of Economics and Sociology, "The intangible flow theory explains that flows of economic material elements (such as physical goods; or cash) are consummated by human related intangible flows (such as work flows; service flows; information flows; or communicational flows) that cannot be precisely appraised at an actual or approximate value, and have properties precluding them from being classified as assets or capitals."
"Thus, although mathematical/quantitative research methodologies are very relevant for science, they are insufficient to study economy and society. Due to its prejudice against non-mathematical/quantitative scientific reasoning, neoclassical economics could not be technologically prepared to reach the intangible flow dynamics of economic phenomena," wrote T. Cardao-Pito and colleagues, University of Technology.
The researchers concluded: "Furthermore, the neoclassical solution to call people human capital or assets, besides being ethically very questionable, offers performative non-scientific metaphors that intervene in the production of the reality they claim to represent; and sabotages the study of well delimited research questions by scientific approaches outside the realm of neoclassical economics."
Cardao-Pito and colleagues published their study in American Journal of Economics and Sociology (Intangible Flow Theory. American Journal of Economics and Sociology, 2012;71(2):328-353).
For additional information, contact T. Cardao-Pito, Univ Tecn Lisboa, ISEG, Lisbon, Portugal.
The publisher's contact information for the American Journal of Economics and Sociology is: Wiley-Blackwell, Commerce Place, 350 Main St, Malden 02148, MA, USA.
Keywords: City:Lisbon, Country:Portugal, Region:Europe, Socioeconomics
This article was prepared by VerticalNews Economics editors from staff and other reports. Copyright 2012, VerticalNews Economics via VerticalNews.com.