PL EN


2014 | 180 cz 1 | 55-64
Article title

Racjonalność kryzysu

Authors
Content
Title variants
EN
The Rationality of Crisis
Languages of publication
PL
Abstracts
EN
The financial crisis which started in 2008 led to the worst economic crisis since the 1930s. The crash of the speculative bubble in the real estate and derivatives market caused negative consequences in the real sphere too. The mechanism of the American financial crisis shows great resemblance to the Japanese one at the beginning of the 1990s. In both cases the government supported expansive monetary policy combined with the easy credit lay at the heart of the crisis. With the deregulation of the banking sector, the conditions were favorable to high risk investments. As a consequence, both in the USA and in Japan speculative bubbles expanded bringing comparable effects. The parties involved in the processes leading to the afore-mentioned crises acted, looking from the individual perspective, in a rational way. They may have been certain that their investments were rational and safe. This, as it turned out, false sense of security was created by the policy of American and Japanese governments respectively.
Year
Volume
Pages
55-64
Physical description
Contributors
References
  • Greenspan A.: Era zawirowań. MUZA SA, Warszawa 2008.
  • Kerr A.: Psy i demony, ciemne strony Japonii. UNIVERSITAS, Kraków 2008.
  • Krugman P.: Wracają problemy kryzysu gospodarczego. PWN, Warszawa 2001.
  • Smith A.: Badania nad naturą i przyczynami bogactwa narodów. PWN, Warszawa 1954.
  • en.wikipedia.org/wiki/Fannie_Mae
  • en.wikipedia.org/wiki/Freddie_Mac
Document Type
Publication order reference
Identifiers
ISSN
2083-8611
YADDA identifier
bwmeta1.element.desklight-36a42cb5-9226-49ea-96f4-cc7e7ccc9aa8
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