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Human Nature And Cyclic Character Of Economic Crises

Ion Pohoata ()

Review of Economic and Business Studies, 2009, issue 3, 09-29

Abstract: Crisis clearly distinguishes itself from the large mass of economic phenomena through its provocative force, which fuels theoretical discourse. The more harmful, the more generous the energies it deploys and consumes for explanatory and obstacle overcoming purposes. The result is that every crisis teaches us a lesson. What interests us is who writes and who learns from this lesson, and if they do. Then we try to find why serious crises, like the current one, occur once or twice in a century. What is the role that big world market players have in crisis “preparation”, onset and resorption? Do solutions originate in the state’s support or in the market? Does globalization erase national borders in such situations? How and to what extent real economy may penalize a guilty party that constantly comes from nominal economy? What are the problems raised by such an outcome for the strategy to follow and for economic sciences in general, etc.?

Keywords: crisis; Keynes; truth; compromise; market; state; human nature; speculation; indebtedness; personal calculation (search for similar items in EconPapers)
JEL-codes: E12 E44 E60 N10 (search for similar items in EconPapers)
Date: 2009
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