Just one comment: make the question clear. "Economics" is a branch of knowledge. Obviously, empirical observation of this crisis will aid its development. I believe, you want to talk about the economy, though.
Thanks for this comment. Actually I hesitated between both and I took "economics" because I thought the term was more accurate to speak of the systems, the mechanics of the economical systems, and I thought "economy" was more accurate to speak about a situation like "the economy of France", the "economy of car industry". In France we use the same word "économie" for all cases. In short I used "economics" to speak from an abstract point of view, when I would use "economy" to speak from a concrete point of view. Correct me if I'm wrong.
So, my question might remain a bit ambiguous by the fact I tied it to the crisis and its results, so the short term, when meanwhile I wonder on the long term. It's because I tend to think that this crisis could be one of the thing that would participate to sign the death act of capitalism, I might be wrong but that's what I tend to think.
Then, by capitalism, and tell me if you think I'm wrong, I mean the fact that the economy and the value we give to all the things (products, work, money) only turns around "supply" and "demand", all the economical values and all the working of our economic system are based on the interaction between both.
A system which seems to have some limits if we consider what it can leads to concerning its excesses and the consequences on the other aspects of the human being. And I think that this system could no more work now it has broken, for times and times now,
a lot of moral values, I think we have been too far with it, we couldn't fairly manage it in the future anymore, IMO anyway.
So if we envisage the death of that system, the question would be how giving a value to the things, can we overcome the supply/demand system, to find something still better, something strong with good and productive perspectives on the long term?
I think that by the economical question, we also ask the question of the working of a human society in general, of how we exchange together, and so, overall, on which
principles do we base the working of our society, of our life. For example that might not be a random if Islam carried with itself trade rules, trade rules which permitted a good development of Muslim societies, and the study of "Islamical finances" are trendy in colleges nowadays. I take the example of Islam because it is the more clear one, but I'm sure we can find references in Christianity or else that would give an orientation to human exchanges and so to economical rules.
The fact that meanwhile the epoch shows more and more spiritual needs in part because of moral challenges, and that IMO the spiritualities which stood until now won't be able to answer these needs, if economical rules effectively depends of spiritual ones, all of this goes in the sens that we will have to face a deep renewing of economical rules in the future.
Anyway, I may should have organized my question in 2 parts:
1st part:
Which results do you think this crisis will have on the short term on mechanisms of economy (economics?). Some already answered to this question here by their interventions.
2nd part:
What, according to you, will be the future of mechanisms of economy (economics?) on the more long term?
Just changes within capitalism, even if big changes? And which changes?
Or, death of capitalism step by step replaced by some new economical ways, and which ones?
Still if some have ideas about it and the will to share...
Poll
