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The Ecologist Spirit Underneath Austrian Economist Clothes

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  • Elena Bianca Vieru

    (Alexandru Ioan Cuza University Of Iasi, Romania, Doctoral School Of Economics and Lorraine University, Nancy, France, Ecole Doctorale D’economie, Bureau D'economie Théorique Et Appliquée Beta)

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    Abstract

    Capital is strongly related to growth and development. Unfortunately, nowadays not many are those who actually understand the meaning underneath these connections. Our main concern becomes providing strong proof for the idea according to which a misallocation of capital betrays disastrous consequences, both from a pure economical as well as from an ecological perspective. Thus, the purpose of our paper finds its roots in revealing the answer to the question whether society requires a new economico-ecological mentality oriented towards a sane and efficient resource allocation along the productive process. The response we found is that it desperately does so. Formulating the argument benefits from the Austrian School precepts as it bifurcates into separate paths to follow along the paper. The first one highlights our main assumption according to which Austrian economics are, from a certain perspective, ecological oriented as their capital theory is thoroughly linked to an environmental friendly growth. The second trail entails the development of a plan under the form of possible solutions for escaping the recurrence of imbalances. A considerable part is also allocated to pointing out the main indicators that emphasize the guiding alarm signals: prices and private property.

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    Bibliographic Info

    Article provided by Constantin Brancusi University, Faculty of Economics in its journal Constatin Brancusi University of Targu Jiu Annals - Economy Series.

    Volume (Year): 4I (2012)
    Issue (Month): (December)
    Pages: 236-242

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    Handle: RePEc:cbu:jrnlec:y:2012:v:4i:p:236-242

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    Keywords: Austrian School; capital theory; ecology; crises; state interventionism;

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    1. Philippe DULBECCO & GARROUSTE, 1998. "Towards an Austrian Theory of the Firm," Working Papers 199826, CERDI.
    2. Dan Greenwood, 2008. "Non-Market Coordination: Towards an Ecological Response to Austrian Economics," Environmental Values, White Horse Press, vol. 17(4), pages 521-541, November.
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