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About How Did the First Ever Big Economic Crisis Look Like

Liviu Andrei ()

Theoretical and Applied Economics, 2010, vol. 2(543), issue 2(543), 55-68

Abstract: The obsession about the current economic crisis is pretty understandable. But being obsessed about the current moment, in the economic crisis matter, might become a scientific mistake. As for instance, the real results of the current period will be available in just a couple of years. Moreover, we used to believe up to recently that the previous big crisis of 1929-1933 might be nearly an accident and would not repeat, due to its lesson applied: the policy makers made functional, vigilant, diligent and acting. May be such a lesson was not enough. But equally, every crisis would claim a specific lesson of this kind, and the present one would do the same, whereas the 1929-1933 and current crises lessons would not be enough, partly because the economic history has more in such a topic area. In other words, let us more deeply search for crisis elements in the world economic history.

Keywords: economic crisis; national economy; price system & standards; macrosystem; the international gold standard; utilities; barter system of exchanges. (search for similar items in EconPapers)
Date: 2010
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Handle: RePEc:agr:journl:v:2(543):y:2010:i:2(543):p:55-68