the limit between the rational and irrational behaviour in the economic science
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ID: 241374
2012
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Abstract
Although three years have passed since the onset of the
deepest recession from 1929, the most world economies are still fragile,
the slipping into another recession being imminent for many of them. “It
is a sin to waste a crisis” without learning something of the causes that
generated it, said Nouriel Roubini, but this time the problems facing the
economic science are related even to the own concepts of the promoted
model, while to change something in the economy it is need a
reconceptualization of the economic science.
The context of the current economic model has failed to anticipate
the economic crisis and fails to propose sustainable measure of the
economic recovery and this because it starts from the wrong premises,
such as assuming that the behavior of the subjects within the market is
always rational.
In this work we will demonstrate that the irrational behavior of the
participants to the economic life has led to imbalances of these markets
and we will try to distinguish between the rational and the irrational
economic behaviors, to identify the operating area of economic science at
this time.
| Reference Key |
marinescu2012theoreticalthe
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|---|---|
| Authors | ;Cristian MARINESCU |
| Journal | 2019 ieee 6th international conference on industrial engineering and applications, iciea 2019 |
| Year | 2012 |
| DOI |
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