Beyond Homo Economicus: Economic Fluctuations and Legalized Plunder in Vico’s Cyclical History.

IM, HYUN-NAM (2026): Beyond Homo Economicus: Economic Fluctuations and Legalized Plunder in Vico’s Cyclical History.

Abstract

This paper challenges the fundamental assumptions of mainstream economics, particularly the concept of Homo Economicus (the rational economic man) and the mathematical illusion of general equilibrium. By integrating Giambattista Vico’s cyclical philosophy of history with established economic theory, this treatise proposes a new ontological framework for understanding modern capitalism. First, this paper redefines human economic behavior not as rational choice, but as the dynamic interaction of an ontological triad structured around libido, anxiety, and sin. Second, it diagnoses the 21st century as the ‘Era of Grand Analogy’, in which physical imitation and administrative bureaucracy have given rise to a state of collective amorality (Søren Kierkegaard’s Åndløshed). Third, it deconstructs the ‘equal sign (=)’ of macroeconomics as a mere decalcomanic illusion created by densely aggregated data. Furthermore, it traces how this illusion solidified into a natural theory in tandem with the exponential expansion of currency, population, and administration, thereby exposing it as a mechanism that conceals the ‘legalized plunder’ perpetrated by vested interests. In particular, this paper rejects the conventional, dry mathematical style of academic writing, instead adopting a metaphorical and literary mode of exposition that embeds Vico’s cyclical philosophy of history into the very structure of the text itself. Ultimately, this paper argues that economics must be understood as fundamentally distinct from Platonic political idealism; rather, it is the immanent law of the masses—a living embodiment of Vico’s principle verum ipsum factum (the truth is what is made). It concludes that the resolution to the modern structural crisis lies not in the mechanical adjustment of economic variables, but rather in the restoration of Aristotelian ethics and authentic education.

• Item Type: MPRA Paper
• Language: Korean
• Keywords: Giambattista Vico, Legalized Plunder, Era of Grand Analogy, Aristotelian Ethics, Ontological Triad. Heterodox Economics, Macroeconomic Theory.
• Subjects: B - History of Economic Thought, Methodology, and Heterodox Approaches > B4 - Economic Methodology > B41 - Economic Methodology; E - Macroeconomics and Monetary Economics > E3 - Prices, Business Fluctuations, and Cycles > E32 - Business Fluctuations ; Cycles; K - Law and Economics > K0 - General > K00 - General

References

This manuscript is an original philosophical and theoretical treatise. Therefore, it does not employ a traditional modern bibliography. Primary classical sources, such as Giambattista Vico's 'Scienza Nuova' and Aristotle's works, are directly integrated and discussed within the main text.