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School Of Manchester: The Future Is In The Past

Author

Listed:
  • Emilia UNGUREANU

    (Faculty of Economics, University of Pitesti, Romania)

  • Felix-Constantin BURCEA

    (IBM I.S.C)

Abstract

: In a period full of uncertainties, economists belonging to different economic schools are trying to find solutions for overcoming recession moments and for ensuring a sustainable economic growth. A phenomenon usually found in physics, hysteresis, is according to our opinion, applicable in both theory and economic practice: the current economic situation, but also governing theories and laws, are influenced and dependent of past events. We will turn our attention in this article on Manchester Economic School, a less orthodox one, but with strong principles that are still influencing the contemporary realities.

Suggested Citation

  • Emilia UNGUREANU & Felix-Constantin BURCEA, 2015. "School Of Manchester: The Future Is In The Past," Scientific Bulletin - Economic Sciences, University of Pitesti, vol. 14(2), pages 65-70.
    • Handle: RePEc:pts:journl:y:2015:i:2:p:65-70
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    Keywords

    : Manchester Economic School; Hysteresis; laissez-faire; free trade; Cobdenism.;
    All these keywords.

    JEL classification:

    • N0 - Economic History - - General
    • N13 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - Europe: Pre-1913
    • C1 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General

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