The Business Cycle In Modern Economic Theory
.pdf files in Romanian:
Funcționarea naturală a economiei
Analiza mainstream: ciclul - produs inerent al pieței libere
Marius Spiridon
romanian
.pdf files in Romanian:
Funcționarea naturală a economiei
Analiza mainstream: ciclul - produs inerent al pieței libere
Marius Spiridon’s PhD thesis:
The present work is not a mainstream work, methodologically or from any other point of view. It poses questions at a fundamental level, both theoretically and institutionally. At the theoretical level, the work is part of the misesian praxeological tradition centered on the faith in the power of reason and human logic to analyse the laws that govern personal action and interactions, in other words what we usually call „social phenomena”. This praxeological vein is the underlying feature of the present work which is a plea not only for an explanation of the business cycle but also an illustration of the intellectual fertility of this kind of approach. The desire to go the fundamentals, characteristic for praxeology and economic science in general, is not abandon when we approach the institutional level. The current institutional framework, among the underlying features of which we can count the central bank, fractional reserve, budget deficits, public debt, welfare state, etc, is taken neither as the only one possible nor as unquestionably the best one. It must carefully be distinguish between the natural impossibility and the ideological impossibility. The later does not represent at all a valid argument against the serious discussion of the merits of alternative institutional arrangements.