Does Financial Crisis Cause Crisis in Economics? Cover Image

Czy kryzys finansowy przyczynia się do kryzysu w naukach ekonomicznych?
Does Financial Crisis Cause Crisis in Economics?

Author(s): Witold Kwaśnicki
Subject(s): Economy
Published by: Instytut Nauk Ekonomicznych Polskiej Akademii Nauk
Keywords: mainstream economics; Austrian school; financial crises; education.

Summary/Abstract: It was pointed out that the crisis in economics is observed mainly in the mainstream economics. Important feature of the current crisis is the mutual accusation of different schools of the mainstream economics and radicalization of expressed opinions. Majority of economists agree that the abuse of mathematics in economic analysis is one of possible cause of current economics’ crises. It seems that the crisis situation of economics is observed in the last thirty years and the current crisis belongs to that long-term trend. Increasing willingness of general public (especially among young generation) for self-education in economics is an important effect of current financial crises.

  • Issue Year: 2009
  • Issue No: 3-4
  • Page Range: 239-254
  • Page Count: 16
  • Language: Polish