THE AUSTRIAN SCHOOL OF ECONOMICS AND MARKET INSTABILITY
THE AUSTRIAN SCHOOL OF ECONOMICS AND MARKET INSTABILITY
Author(s): Claudiu Peptine, Claudiu Gabriel ŢigănașSubject(s): Economy
Published by: Editura Universităţii »Alexandru Ioan Cuza« din Iaşi
Keywords: Market equilibrium; economic cycle; Austrian School; interest rate
Summary/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.
Journal: CES Working Papers
- Issue Year: 5/2013
- Issue No: 1
- Page Range: 129-137
- Page Count: 9
- Language: English