Substitution: On the Animating Spirit of Economic Rationality

Abstract

The term ‘substitution’, given minimal attention in thinking, became important in modern logic, but its treatment is highly technical. After a short review of its conceptual-historical background, the article discusses two important contemporary social and cultural theorists of substitution, Roberto Calasso and Michel Serres. It then turns to William Stanley Jevons, who first took up Boole’s logic, formulated the principle ‘substitution of similars’, the presumed heart of reasoning itself, constructed the first computer, and was a founder of neoclassical economics. The coincidence of these innovations in Jevons, through ‘substitution’, captures the way the modern world was set on its current trajectory, progressing towards a ‘substitution society’. The article concludes that as the key values of human life cannot be substituted, substitution as a general principle applied to human existence is absurd; economic theory, however, as shown in the ideas of Jevons, is founded on the exclusion of such genuine and meaningful concerns.