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The Austrian School Of Economics And Market Instability

Author

Listed:
  • Claudiu-Gabriel Tiganas

    (Alexandru Ioan Cuza University of Iasi, Romania)

  • Claudiu Peptine

    (Alexandru Ioan Cuza University of Iasi, Romania)

Abstract

Market equilibrium is an illusion. The economic reality shows us that the main characteristic of the markets is the state of instability. The complexity of the phenomenon and the strong implications engendered by the economic fluctuations in the macro system, justify the rich scientific research activity of the main schools of economic thought to explain it. The Austrian school of economic thought has one of the most realistic analyses of the factors who generate the market instability.

Suggested Citation

  • Claudiu-Gabriel Tiganas & Claudiu Peptine, 2013. "The Austrian School Of Economics And Market Instability," CES Working Papers, Centre for European Studies, Alexandru Ioan Cuza University, vol. 5(1), pages 129-137.
    • Handle: RePEc:jes:wpaper:y:2013:v:5:i:1:p:129-137
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    More about this item

    Keywords

    Market equilibrium; economic cycle; Austrian School; interest rate Romania;
    All these keywords.

    JEL classification:

    • B13 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Neoclassical through 1925 (Austrian, Marshallian, Walrasian, Wicksellian)

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