The dangerous dynamics of modern capitalism: From static to IFRS’ futuristic accounting
Richard, Jacques (2014), The dangerous dynamics of modern capitalism: From static to IFRS’ futuristic accounting, Critical Perspectives on Accounting, 30, p. 9-34. http://dx.doi.org/10.1016/j.cpa.2014.09.003
TypeArticle accepté pour publication ou publié
Journal nameCritical Perspectives on Accounting
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Dauphine Recherches en Management [DRM]
Abstract (EN)In this article, we utilize accounting history to demonstrate that modern capitalist accounting has evolved similarly in four prominent countries (France, Germany, Great Britain and the United States) and that this evolution has been in a dangerous direction. Using the Classic Continental European Accounting Theory lens, we show that, since the industrial revolution, capitalist financial accounting and capital calculation have progressed through the same three main stages: static, dynamic and futuristic. We also maintain that this process has permitted an unbridled acceleration of profit recognition, which contributes significantly to financial crises manifestations.
Subjects / KeywordsCritique; Crítica; Calculative rationality; Interés Público; Global Financial Crisis; Capital calculation; Capitalism; History of capitalism; Intérêt public
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