Hyperinflation and hyperreality: Thomas Mann in light of Austrian economics

Cantor, Paul A.

doi:10.1007/bf01102134

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The Error Cycle1

Introduction1

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1998

2017

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Cited by 7 publications

(2 citation statements)

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“…14On the psychological aspects of the error phase, and to what extent it goes hand-in-hand with mass irrationality and even insanity, see Cantor's (1994) brilliant study. when the error is discovered.…”

Section: The Error Cyclementioning

confidence: 99%

Toward a general theory of error cycles

Hülsmann

1998

Quart J Austrian Econ

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Section: The Error Cyclementioning

confidence: 99%

Toward a general theory of error cycles

Hülsmann

1998

Quart J Austrian Econ

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“…There is a danger that the symbol of an asset becomes dissociated from its underlying base and is treated as a real phenomenon. The term ‘hyper-reality’ originated in art criticism, when objects in art looked almost real but clearly were not real at all (Cantor, 1994). The financial crisis revealed that derivatives were symbols of assets, not actual assets.…”

Section: Introductionmentioning

confidence: 99%

Beyond the illusion of numbers: A challenge for financial regulators and analysts

Royal

O’Donnell

2013

Econ. labour relat. rev.

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Global financial crises and potential sovereign defaults provide an opportunity for financial regulators and analysts to revise assumptions in their risk models. These conditions are also an opportunity for regulators and analysts to distinguish the ‘hyper-real’ economy, represented by derivatives, from the real economy, which requires assessment through an analysis of human as well as financial capital. Regulators are required to demonstrate that they are skilled in conducting the most thorough analysis of all elements of the finance system in order to help the investing public to manage risk as much as possible. The contribution of this article is to overview the limitations inherent in regulators’ traditional focus on financial analysis, as well as in financial analysts’ failure to consider the relevance of people management data when evaluating the potential performance of knowledge-intensive, service-based organisations. The article argues for a stronger focus on analysis of non-financial capital, including human capital, to provide a more effective ‘early warning’ of potential financial distress.

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