Contemporary mainstream economics cannot be seen as disconnected from philosophical concerns. On the contrary, it should be understood as a defence for a specific philosophy, namely, crude quantitative hedonism where money would measure pleasure and pain. Disguised among a great mathematical apparatus involving utility functions, supply, and demand, lies a specific hedonist philosophy that every year is lectured to thousands of economic and business students around the world. This hedonist philosophy is much less sophisticated than that in ancient hedonist philosophers (...) as Epicurus or Lucretius. Furthermore, it does not solve any of the systematic difficulties regularly faced by hedonist philosophy. However, the argument that economics is detached from philosophy works as a rhetorical artifice to protect its dominant underlying philosophy: Philosophical disputes would have to be addressed within the biased mathematical apparatus of quantitative hedonism. Economists and business students must learn to identify the underlying philosophy in mainstream economics and alternative philosophical systems. (shrink)

The current economic and societal production system gives money a magnified importance, overlooking other essential flows necessary for human survival and existence. It focuses on monetary indicators like profits, dividends, and GDPs to evaluate organizational production, while often disregarding outputs that harm the biosphere. Money is treated as the constitutive being (ousia) and attributed undemonstrated explanatory properties. Intangible flow theory helps eliminate this metaphysical status of money by recognizing that monetary flows are just one of many necessary flows for human (...) survival and existence. Organizations deliver product-flows that require input-flows from and send output-flows back to the encompassing biosphere, whether they explicitly engage in environmentally friendly activities or not. Therefore, every organization is an ecological entity because it has a relationship with the biosphere, which participates in the manner through which humans integrate into their surrounding environment and relate to other living beings. Eliminating the metaphysical status of money integrates every organization in the biosphere, making organizations accountable for environmental harm caused by their activities. This can be achieved by deconstructing the metaphysical status of money in business models. (shrink)