Fashion effects: self-limitations of the free will caused by degeneration of the free market
Journal Title: Economic Research-Ekonomska Istraživanja - Year 2018, Vol 31, Issue 1
Abstract
The article discusses the existence of free will in the free market. The purpose of this article is to show how the free market restricts free will through the fashion effect and how an illusion of freedom is created. The article puts forward a hypothesis, which says that the market, especially the theoretical concept of the free market, limits free will. However, it gives a sense of freedom, which is a delusion. The authors see and describe an existence of a fashion effect as an example of degeneration of the free market. Fashion effect is one of the free-market processes – it uses the psychological mechanisms of seduction; first to sensual, and then intellectual – i.e., the biblical description of the seduction in Eden. In the degenerating free market, the goods are not required to possess practical aspects; however, they need to provoke internal conflicts.
Authors and Affiliations
Konrad Szocik, Agata Gemzik-Salwach, Łukasz Cywiński, Elżbieta Inglot-Brzęk
Keywords
Related Articles
- EP ID EP545131
- DOI 10.1080/1331677X.2018.1544087
- Views 36
- Downloads 0
Overconfidence, risk aversion and individual financial decisions in experimental asset markets
Prior experiments revealed that investors’ overconfidence can result in excessive trade and negative wealth effects. However, in most of these studies, informational asymmetries were part of the experimental design, and...
Governments spending and growth nexus with nonlinear adjustments: re-examining the Croatian and Slovenian case
The objective of this paper is to analyze the governments spending - economic growth nexus and examine the asymmetries in the adjustment process between the two in the Croatian and Slovenian economy. The baseline relatio...
Discretionary vs nondiscretionary in fiscal mechanism – non-automatic fiscal stabilisers vs automatic fiscal stabilisers
The goal of the present study is to increase the intelligibility of macroeconomic phenomena triggered by governmental intervention in economy by means of fiscal policies. During cyclical movements, fiscal policy can play...
The investigation of inflation persistence in Croatia in the period of 2005–2013
The aim of this article is to analyse the inflation persistence phenomenon in the theory of economics and in Croatian economy. In the economic literature there are only few studies on the phenomenon of inflation persiste...
External imbalances in emerging and advanced European countries
This paper aims to explain some developments in current accounts across advanced and emerging European countries with a fixed exchange rate. Our main goal is to identify key factors affecting the external imbalances. Thi...