Theoretical and Applied Economics
No. 6 / 2012 (571)
The Limit between the Rational and Irrational Behaviour in the Economic Science
Bucharest Academy of Economic Studies
Abstract. Although three years have passed since the onset of the deepest recession from 1929, the most world economies are still fragile, the slipping into another recession being imminent for many of them. “It is a sin to waste a crisis” without learning something of the causes that generated it, said Nouriel Roubini, but this time the problems facing the economic science are related even to the own concepts of the promoted model, while to change something in the economy it is need a reconceptualization of the economic science.
The context of the current economic model has failed to anticipate the economic crisis and fails to propose sustainable measure of the economic recovery and this because it starts from the wrong premises, such as assuming that the behavior of the subjects within the market is always rational.
In this work we will demonstrate that the irrational behavior of the participants to the economic life has led to imbalances of these markets and we will try to distinguish between the rational and the irrational economic behaviors, to identify the operating area of economic science at this time.
Contents
Basel III – Between Global Thinking and Local Acting
Recovery of the Tourism Potential of the Central Development Region. Case Study
Fiscal, Monetary Policies and Institutions’ Role (Political, Social and Economic) in Pakistan
Outsourcing. The Concept
The Analysis of the Ethnical Discrimination on the Manpower’s Market under the Economical Crisis
The Local Development Initiatives in the Rural Development Context
Post-crisis Economy of the European Union in the Global Context
New Approaches to Social Economy
The Role of Accounting and Accounting Law in Establishing Public Economic Policies in the Post-crisis Period
Impact and Limitations Deriving from Basel II within the Context of the Current Financial Crisis
Models of the Economic Growth and their Relevance
The Limit between the Rational and Irrational Behaviour in the Economic Science
The Bureaucracy in the Current Economic Climate
Analysis of the American Economic System – from the Old Capitalism to the New Capitalism
The Economics of State Aid Control in the European Union during the Financial Crisis: the Challenge for a Post-Crisis Rhetoric