Kilka wyzwań dla teorii ekonomii po kryzysie

• Authors: Mateusz Machaj

Title variants

EN

THE ECONOMY AND ECONOMIC THEORY EORY AFTER CRISIS

• Languages of publication: PL

Abstracts

EN

The article presents six challenges confronting economic theory after 2008 crash, which should be addressed by economists in next few years. The first challenge raises the question regarding compatibility of economic stability with consumer price stability. The second one questions the existing theory of interest rates and its relation to capital theory. The third one touches upon the problem of unstable banking and currency systems. The forth one combines those issues and relates them to the role of central banks. The fifth challenge is due to unrealistic risk assessments used by the mainstream models. And the sixth challenge is due to forlorn hopes of perfect regulatory mechanisms to prevent those types of crashes from happening.

Keywords

EN

economic crisis; interest rate; fractional reserve banking; uncertainty; risk; central banks; Wicksell; price stability; regulations

• Publisher: Institute of Economic Sciences, Polish Academy of Sciences
• Journal: Studia Ekonomiczne (Economic Studies)
• Year: 2009
• Issue: 3-4(62-63)
• Pages: 279-296

Contributors

author

Mateusz Machaj

• Katedra Ekonomii i Zarządzania na Uniwersytecie Przyrodniczym we Wrocławiu, pl. Grunwaldzki 24 A, 50-363 Wrocław