Racjonalność kryzysu

• Authors: Mirosław Jodko

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.

Keywords

PL

Bańka spekulacyjna; Kryzys finansowy; Kryzys gospodarczy; Racjonalność

EN

Economic bubble; Economic crisis; Financial crisis

• Publisher: Uniwersytet Ekonomiczny w Katowicach
• Journal: Studia Ekonomiczne
• Year: 2014
• Volume: 180 cz 1
• Pages: 55-64

Contributors

author

Mirosław Jodko

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

Identifiers

ISSN

2083-8611