Presenter: Cristian Frasser

The Functional Unity of ‘Liquid Assets’

Liquidity is a property that opens the possibility to devise a taxonomy of assets (e.g., ‘liquid assets’ versus ‘illiquid assets,’ or ‘money’ versus ‘non-money’). The aim of the paper is to philosophically discuss the legitimacy of liquidity-based asset classification. There is a type of classification that is scientifically precious because it has inductive potential and explanatory value. Such a type of classification is what sometimes is called a natural kind. Some philosophers have argued that the social sciences cannot be taken seriously because there are no natural kinds in the human realm that can ground the inductive reasoning. Some economists have endorsed a view in which there is a sharp boundary between, for instance, the categories ‘money’ and ‘non-money.’ I reject both positions and present a functional account of liquidity-based asset classification.

Cristian Frasser is a PhD student at Paris 1 University.

The seminar will start at 12:30. Room TBA (Universidad de los Andes).