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Issue 3 Part 2

Fictitious Capital and the Elusive Quest in Understanding its Implications: Illusions and Paradoxes
Fictitious capital has the tendency to create, like a spell, money that becomes more money, richness which prompts more richness in an uncontrolled spiral ... Read more
Replacing the Concept of Externalities to Analyze Constraints on Global Economic Growth and Move Toward a New Economic Paradigm
Disciplinary and conceptual boundaries don't just focus attention; they also inhibit the discovery and study of processes that transcend those boundaries and bias public policy development in certain directions ... Read more
European Transition into a Socio-ecological Market Economy
Transition into an SEME (Socio-ecological Market Economy) needs a conscious societal evolution and full development of the human potentials for active learning and knowledge transfer ... Read more
New Paradigm in the Service Economy The Search of Economics for Scientific Credibility: In between Hard and Soft Sciences
The maximum possible achievement in the fight against scarcity is to create abundance in as many sectors as possible ... Read more

Inside This Issue
Part 2 of this issue of Cadmus continues our exploration of New Economic Theory with a report on issues discussed during the “11th International Colloquium on Global Crisis and Changes of Paradigms: Current Issues” conducted in Brasília on May 6-8, 2014. “Fictitious Capital & the Elusive Quest in Understanding its Implications: Illusions & Paradoxes” by Joanilio Rodolpho Teixeira &... Read more
New Paradigm in the Service Economy The Search of Economics for Scientific Credibility: In between Hard and Soft Sciences
Orio Giarini
 Get Full Text in PDF Abstract After the very long cycle (about 10,000 years) of societal and economic development based on agriculture, followed by a short cycle in which the industrial revolution became the prime mover (for less than 3 centuries), the world has entered a phase marked by the growing and determining importance of service activities (both monetarized and non-monetarized) .... Read more
European Transition into a Socio-ecological Market Economy
Erich Hoedl
 Get Full Text in PDF Abstract The European Union has introduced the Europe 2020 Strategy and Horizon 2020, which contain several elements for a transition into a Socio-ecological Market Economy. But their implementations are mainly hampered by the unduly large financial sector and the political striving for high economic growth. A turn into low growth equilibrium needs a reduction of total... Read more
Replacing the Concept of Externalities to Analyze Constraints on Global Economic Growth and Move Toward a New Economic Paradigm
Jim Lunday
 Get Full Text in PDF Abstract The prevailing economic paradigm has fallen short as a guide to policy making in this era of global economic crises. Numerous efforts are underway to revise it or replace it with a science of society that integrates intellectual disciplines. This paper makes a contribution to those efforts by arguing that the economic concept of externalities is no longer... Read more
Fictitious Capital and the Elusive Quest in Understanding its Implications: Illusions and Paradoxes
Joanilio Rodolpho Teixeira, Paula Felix Ferreira
 Get Full Text in PDF Abstract This paper deals with the interaction between fictitious capital and the neoliberal model of growth and distribution, inspired by the classical economic tradition. Our renewed interest in this literature has a close connection with the recent international crisis in the capitalist economy. However, this discussion takes as its point of departure the fact that... Read more
Issue 3 Part 2
Inside This Issue
New Paradigm in the Service Economy The Search of Economics for Scientific Credibility: In between Hard and Soft Sciences
Orio Giarini
European Transition into a Socio-ecological Market Economy
Erich Hoedl
Replacing the Concept of Externalities to Analyze Constraints on Global Economic Growth and Move Toward a New Economic Paradigm
Jim Lunday
Fictitious Capital and the Elusive Quest in Understanding its Implications: Illusions and Paradoxes
Joanilio Rodolpho Teixeira, Paula Felix Ferreira