THE ECOLOGIST SPIRIT UNDERNEATH AUSTRIAN ECONOMIST CLOTHES

Elena Bianca Vieru
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Elena Bianca Vieru: Alexandru Ioan Cuza University Of Iasi, Romania, Doctoral School Of Economics and Lorraine University, Nancy, France, Ecole Doctorale D’economie, Bureau D'economie Théorique Et Appliquée Beta

Annals - Economy Series, 2012, vol. 4I, 236-242

Abstract: Capital is strongly related to growth and development. Unfortunately, nowadays not many are those who actually understand the meaning underneath these connections. Our main concern becomes providing strong proof for the idea according to which a misallocation of capital betrays disastrous consequences, both from a pure economical as well as from an ecological perspective. Thus, the purpose of our paper finds its roots in revealing the answer to the question whether society requires a new economico-ecological mentality oriented towards a sane and efficient resource allocation along the productive process. The response we found is that it desperately does so. Formulating the argument benefits from the Austrian School precepts as it bifurcates into separate paths to follow along the paper. The first one highlights our main assumption according to which Austrian economics are, from a certain perspective, ecological oriented as their capital theory is thoroughly linked to an environmental friendly growth. The second trail entails the development of a plan under the form of possible solutions for escaping the recurrence of imbalances. A considerable part is also allocated to pointing out the main indicators that emphasize the guiding alarm signals: prices and private property.

Keywords: Austrian School; capital theory; ecology; crises; state interventionism (search for similar items in EconPapers)
Date: 2012
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