THE AUSTRIAN SCHOOL OF ECONOMICS AND MARKET INSTABILITY

Claudiu-Gabriel Tiganas () and Claudiu Peptine ()
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Claudiu-Gabriel Tiganas: Alexandru Ioan Cuza University of Iasi, Romania
Claudiu Peptine: Alexandru Ioan Cuza University of Iasi, Romania

CES Working Papers, 2013, vol. 5(1), issue 1, 129-137

Abstract: Market equilibrium is an illusion. The economic reality shows us that the main characteristic of the markets is the state of instability. The complexity of the phenomenon and the strong implications engendered by the economic fluctuations in the macro system, justify the rich scientific research activity of the main schools of economic thought to explain it. The Austrian school of economic thought has one of the most realistic analyses of the factors who generate the market instability.

Keywords: Market equilibrium; economic cycle; Austrian School; interest rate Romania (search for similar items in EconPapers)
JEL-codes: B13 (search for similar items in EconPapers)
Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:jes:wpaper:y:2013:v:5:i:1:p:129-137

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