Rationalism, Pseudo-Rationalism, and the Lack of Rationalism: Realistic Scenarios about the Beginning of the World Crisis of 2007

Abstract

In this paper, we aim to assess whether rationalism is a feature that usually accompanies the architecture and the evolution of financial and economic crisis. We find that, unfortunately, the lack of rationalism and pseudo-rationalism are the rule, not the exception, which created, and still do, the vulnerabilities of modern global economic systems. Once again, these shortcomings and limits of rationalism have negative effects. We found that the volatility of the present context is a pseudo-rationalist cause of the latest crisis which created social, political, military and economic turbulences. Moreover, the economic cycles were generated by the incompetence of political power and its legalized manifested corruption.