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Theoretical and Applied Economics
No. 2 / 2012 (567)

Crisis: a Return to Rationality

Liviu Cătălin MORARU
Bucharest Academy of Economic Studies
Iulian TĂNASE
Bucharest Academy of Economic Studies

Abstract. This paper analyses the causes of economic crisis trying to reconcile the theory of "animal spirits" with the money supply expansion. It also aims to show the limits of the two opposing theories: both of the Keynesian and the Austrian ones, and to investigate the economic crisis in Greece, focusing on the causes that triggered it. This paper also shows the effects of population, bankers and of government officials greed on economic activity in general, and the crisis in particular.

Keywords: depression; Keynesianism; Austrian theory; the Greek crisis.

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Marin Dinu

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The Economicity. The Epistemic Landscape, Marin Dinu, 2016

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