Does the current financial crisis mean the crisis of liberal capitalism?

Janusz J. Tomidajewicz
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Janusz J. Tomidajewicz: University of Economics in Poznañ, Poland

Timisoara Journal of Economics, 2010, vol. 3, issue 1(9), 65-68

Abstract: The outbreak of the crisis of the financial markets, which has occurred in the second decade of the year 2008, was absolutely baffling for many citizens, as well as for economists and financial experts. At least such sensation we get from various opinions of so-called “leading economists”, who make us believe that our world, entirely ruled by perfect principals of neo-liberal economy, has suddenly had to face an unpredictable and unavoidable disturbance. An extremely liberal approach to the question of the crisis (which nowadays is rarely expressed in a direct form) stated that crises constitutes a phenomenon, which appears from time to time and is one necessary and normal “healing” factor for the economy. Therefore we should allow the natural forces of the market to regain the initial balance of the economy.

Date: 2010
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