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SCHOOL OF MANCHESTER: THE FUTURE IS IN THE PAST

Emilia Ungureanu () and Felix-Constantin Burcea ()
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Emilia Ungureanu: Faculty of Economics, University of Pitesti, Romania
Felix-Constantin Burcea: IBM I.S.C

Scientific Bulletin - Economic Sciences, 2015, vol. 14, issue 2, 65-70

Abstract: : In a period full of uncertainties, economists belonging to different economic schools are trying to find solutions for overcoming recession moments and for ensuring a sustainable economic growth. A phenomenon usually found in physics, hysteresis, is according to our opinion, applicable in both theory and economic practice: the current economic situation, but also governing theories and laws, are influenced and dependent of past events. We will turn our attention in this article on Manchester Economic School, a less orthodox one, but with strong principles that are still influencing the contemporary realities.

Keywords: : Manchester Economic School; Hysteresis; laissez-faire; free trade; Cobdenism. (search for similar items in EconPapers)
JEL-codes: N0 N13 C1 (search for similar items in EconPapers)
Date: 2015
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