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Human Nature And Cyclic Character Of Economic Crises



    (Executive Director of the Doctoral School in Economics, "Al.I.Cuza" University of Iasi)


Crisis clearly distinguishes itself from the large mass of economic phenomena through its provocative force, which fuels theoretical discourse. The more harmful, the more generous the energies it deploys and consumes for explanatory and obstacle overcoming purposes. The result is that every crisis teaches us a lesson. What interests us is who writes and who learns from this lesson, and if they do. Then we try to find why serious crises, like the current one, occur once or twice in a century. What is the role that big world market players have in crisis “preparation”, onset and resorption? Do solutions originate in the state’s support or in the market? Does globalization erase national borders in such situations? How and to what extent real economy may penalize a guilty party that constantly comes from nominal economy? What are the problems raised by such an outcome for the strategy to follow and for economic sciences in general, etc.?

Suggested Citation

  • Ion POHOATA, 2009. "Human Nature And Cyclic Character Of Economic Crises," Review of Economic and Business Studies, Alexandru Ioan Cuza University, Faculty of Economics and Business Administration, issue 3, pages 09-29, May.
  • Handle: RePEc:aic:revebs:y:2009:i:3:pohoatai

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    crisis; Keynes; truth; compromise; market; state; human nature; speculation; indebtedness; personal calculation;

    JEL classification:

    • E12 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Keynes; Keynesian; Post-Keynesian; Modern Monetary Theory
    • E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
    • E60 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General
    • N10 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - General, International, or Comparative


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