IDEAS home Printed from https://ideas.repec.org/a/agr/journl/v6(571)y2012i6(571)p143-156.html
   My bibliography  Save this article

The Limit between the Rational and Irrational Behaviour in the Economic Science

Author

Listed:
  • Cristian MARINESCU

    (Bucharest Academy of Economic Studies)

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.

Suggested Citation

  • Cristian MARINESCU, 2012. "The Limit between the Rational and Irrational Behaviour in the Economic Science," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania / Editura Economica, vol. 0(6(571)), pages 143-156, June.
  • Handle: RePEc:agr:journl:v:6(571):y:2012:i:6(571):p:143-156
    as

    Download full text from publisher

    File URL: http://store.ectap.ro/articole/742.pdf
    Download Restriction: no

    File URL: http://www.ectap.ro/articol.php?id=742&rid=87
    Download Restriction: no
    ---><---

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Jiří Štekláč & Vladimír Štípek, 2017. "Smoothing Out The Credit Cycle Under The Conditions Of Current Credit Economy," Economy & Business Journal, International Scientific Publications, Bulgaria, vol. 11(1), pages 526-546.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:agr:journl:v:6(571):y:2012:i:6(571):p:143-156. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Mircea Dinu (email available below). General contact details of provider: https://edirc.repec.org/data/agerrea.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.