ABSTRACT

Before the analytical discovery of emissions, economic magnitudes could only be grasped in continuous time or, at most, through “leap functions”. Economic theory only knew of the existence of operations that were conceived of as movements in a pre-determined space and time. If domestic production were a simple material transformation, all the economic operations would be reducible to two types: some would transform the raw materials and the others would convey the material in state, whether transformed or not. The predicament in which the theory found itself is summed up in an alternative. Salvation comes from the discovery of an entirely new class of exchanges, absolute exchanges of the product into money. New income is immediately cast by the producing services market into the financial market where it defines the formation of a net capital-time in the society.