Revista OEconomica

Loredana COSTINA - Legal Causes of Non-Governmental Organizations’ Lack of Performance [Cauzele juridice ale neperformanţei organizaţiilor neguvernamentale]

Adrian COROBANĂ - International Economic Sanctions and Avoidance Mechanisms: The Law and Economics of Primary and Secondary Regimes [Sancţiunile economice internaţionale şi mecanismele de evitare a acestora: o analiză juridico-economică a regimurilor primare şi secundare]

Emmanuel Olusegun STOBER - Reassessing Tariffs: Strategic Trade Theory and Modern Protectionism [Reevaluarea tarifelor: teoria comerţului strategic şi protecţionismul modern]

Radu CHIOTAN - Measuring Risk for FDI Research in MENA: A Transparent Protocol for Proxy Selection and Robustness

Revista ŒCONOMICA - Book Review: Peter Frankopan and the Unlikely Smoothness of the Silk Roads, Old and New

Articles on Issue Theme

Jörg Guido HULSMANN

Université d'Angers

The current financial crisis is the result of longstanding political interventionism. In what follows we argue that our monetary system creates incentives for irresponsible behavior (moral hazard) and is therefore an important cause of recurrent crises. Then we discuss two recent articles purporting to downplay the significance of this fact.

ŒCONOMICA no. 2/2009

Keywords: economic crisis, moral hazard, information economics, property economics

JEL: B53, D8

Feriţi-vă de cei care iau în derâdere hazardul moral

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