THE AUSTRIAN SCHOOL OF ECONOMICS AND MARKET INSTABILITY
Journal Title: CES Working Papers - Year 2013, Vol 5, Issue 1
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.
Authors and Affiliations
Claudiu Tiganas
Keywords
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