The Limitations of Standard Economical Theory from the Perspective of Development, Sustainability and Rationality in Resource Allocation

Chiriac Cãtãlin (), Vodã Ana-Iolanda () and Radu Constantinescu ()
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Chiriac Cãtãlin: "Alexandru Ioan Cuza" University of Iaºi, Faculty of Economics and Business Administration
Vodã Ana-Iolanda: "Alexandru Ioan Cuza" University of Iaºi, Faculty of Economics and Business Administration

Ovidius University Annals, Economic Sciences Series, 2012, vol. XII, issue 1, 442-447

Abstract: In this paper we wish to fix and underline the nature, causes and effects of the so called “theoretical limitations” of standard economics related to environment, without losing the focus on the impact – both present and potential – that this may have over the natural and social systems.

Keywords: market failure; transaction costs; property rights; development; rationality. (search for similar items in EconPapers)
JEL-codes: B P Q (search for similar items in EconPapers)
Date: 2012
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Persistent link: https://EconPapers.repec.org/RePEc:ovi:oviste:v:xii:y:2012:i:12:p:442-447

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