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Crisis: a Return to Rationality


  • Liviu Cătălin MORARU

    (Bucharest Academy of Economic Studies)

  • Iulian TĂNASE

    (Bucharest Academy of Economic Studies)


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.

Suggested Citation

  • Liviu Cătălin MORARU & Iulian TĂNASE, 2012. "Crisis: a Return to Rationality," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania - AGER, vol. 0(2(567)), pages 59-68, February.
  • Handle: RePEc:agr:journl:v:2(567):y:2012:i:2(567):p:59-68

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