The Human Factor in the Modern Financial Crisis

Abstract

Homo transformaticus, therefore, is the carrier of a necroeconomy’s routine who transforms economy. Unlike a necroeconomy, whose routine is carried by a human being which is 'still-to-be-formed,' a zombie-economy’s routine is carried by the 'gone and departed' man, the so-called zombie economicus. Under the conditions of the present financial crisis, the threat of a zombie-economy is also aggressively knocking on the doors of those developed economies which, until recently, seemed to have escaped the zombieing of their economies. The only effective mechanism to get rid of both a necroeconomy and a zombieeconomy is to adopt a sound bankruptcy law.