Analele Universităţii Constantin Brâncuşi din Târgu Jiu : Seria Economie (Mar 2012)
COULD BE CONSIDERED A FAILURE THE OF THE ECONOMIST PROFESSION THE CURRENT GLOBAL CRISIS?
Abstract
The economist Nouriel Roubini said that is a sin to waste a crisis without learning something ofthe causes that generated it. Although three years have passed since the onset of the global crisis in 2008, we don'tknow very clearly what are the causes that led to its appearance and even less who are those responsible for thisgreat recession. And unless we understand what leads to economic instability and financial crises, we can notprescribe policy for crisis prevention and sustainable economic growth.This paper aims to highlight some of the key issues that have favored the emergence of the global crisis in2008, many of which national economies have not yet emerged, and some of those who have passed the crisis thereare on the brink of a return to recession.In this paper we want to answer the question if the current global crisis can be considered a failure of theeconomits profession and therefore of economic science, being necessary at this time a new paradigm in economicsor the fault belong of the political class, and the economic science has no fault in this regard and it will need tomaintain the mechanistic vision of the market, going on the rational line and on the idea that natural state of amarket is the balance.
