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Some Aspects of the Economic Crisis

Author

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  • Horst Todt

    () (University of Hamburg, Germany)

Abstract

The article comments on some aspects of the present economic crisis. The role of bonuses in a system with principal-agent relationship is discussed. Several other features like the responsibility of rating institutes are considered. A main point is to question our knowledge about the crisis. New developments in economics take soft factors into account. These factors and the fact that at most "bounded rationality" guides human action throw some doubt on ready-to-hand judgments.

Suggested Citation

  • Horst Todt, 2009. "Some Aspects of the Economic Crisis," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 11(Number Sp), pages 667-674, November.
  • Handle: RePEc:aes:amfeco:v:11:y:2009:i:number_special_3:p:667-674
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    File URL: http://www.amfiteatrueconomic.ro/temp/Article_908.pdf
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    References listed on IDEAS

    as
    1. John H. Boyd & Gianni De Nicolã, 2005. "The Theory of Bank Risk Taking and Competition Revisited," Journal of Finance, American Finance Association, vol. 60(3), pages 1329-1343, June.
    2. George A. Akerlof, 2009. "How Human Psychology Drives the Economy and Why It Matters," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 91(5), pages 1175-1175.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Dorin Popescu & Mihai Negrea & Lelia Voinea, 2011. "Mutations in the Foodstuff Quality Perception of the New Consumers in Romania," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 13(Special N), pages 771-779, November.
    2. Gheorghe Săvoiu & Vasile Dinu & Laurenţiu Tăchiciu, 2012. "Romania Foreign Trade in Global Recession, Revealed by the Extended Method of Exchange Rate Indicators," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 14(31), pages 173-194, February.

    More about this item

    Keywords

    economic crisis; mortgages; international banking system;

    JEL classification:

    • M3 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Marketing and Advertising
    • M31 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Marketing and Advertising - - - Marketing
    • L81 - Industrial Organization - - Industry Studies: Services - - - Retail and Wholesale Trade; e-Commerce

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