Abstract

In this article, I consider financial economics as an artistic science in which interpretation plays a key role. After having reminded the importance of the Efficient Market Hypothesis [EMH] in the development of institutional frameworks, we present EMH as a work of art-we illustrate this point by considering EMH as an ironic and a non-representative art in which the theoretical picture tends to replace the reality. This process leads to the creation of a 'hyper-reality' that is paradoxically unable to predict or to explain the financial reality. In line with a postmodernist perspective of science, I claim here that financial economics and technology are used not to describe or to better understand the financial reality but rather to invent it.