No. 3 / 2026 — Autumn

Abstract. The phenomenology of crisis is one of the most complex tasks that economics undertook and undertakes to discern. Crisis is not a new phenomenon. As a cycle sequence, either long or short, it entered the "normality" of the economic dynamics. The big ones, like the one in '29-'33 and the current one, escape this register. Their width, development and consequences make them special phenomena. In explaining them, thousands of pages were consumed. The fact they reoccur raises tormenting questions. The attempts to answer these questions followed either a technical line of one supported by the "human nature". As we use the first variant, we shall try to tackle this topical issue called crisis from the perspective of the correlations existing between economic variables. If when operating normally economy may be in extremis associated to a Newtonian mechanics, crisis changes things.