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The Limitations of Standard Economical Theory from the Perspective of Development, Sustainability and Rationality in Resource Allocation

Author

Listed:
  • Chiriac Cãtãlin

    () ("Alexandru Ioan Cuza" University of Iaºi, Faculty of Economics and Business Administration)

  • Vodã Ana-Iolanda

    () ("Alexandru Ioan Cuza" University of Iaºi, Faculty of Economics and Business Administration)

  • Constantinescu Radu

    () ("Alexandru Ioan Cuza" University of Iaºi, Faculty of Economics and Business Administration)

Abstract

In this paper we wish to fix and underline the nature, causes and effects of the so called “theoretical limitations” of standard economics related to environment, without losing the focus on the impact – both present and potential – that this may have over the natural and social systems.

Suggested Citation

  • Chiriac Cãtãlin & Vodã Ana-Iolanda & Constantinescu Radu, 2012. "The Limitations of Standard Economical Theory from the Perspective of Development, Sustainability and Rationality in Resource Allocation," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(1), pages 442-447, May.
  • Handle: RePEc:ovi:oviste:v:xii:y:2012:i:12:p:442-447
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    File URL: http://stec.univ-ovidius.ro/html/anale/ENG/cuprins%20rezumate/volum2012p1.pdf
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    Cited by:

    1. Constantinescu, Radu, 2012. "Repere ale raţionalităţii limitate în ştiinţa economică
      [Highlights of bounded rationality in economics]
      ," MPRA Paper 44297, University Library of Munich, Germany, revised 08 Feb 2013.

    More about this item

    Keywords

    market failure; transaction costs; property rights; development; rationality.;

    JEL classification:

    • B - Schools of Economic Thought and Methodology
    • P - Economic Systems
    • Q - Agricultural and Natural Resource Economics; Environmental and Ecological Economics
    • Q - Agricultural and Natural Resource Economics; Environmental and Ecological Economics

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