Revista OEconomica

Mara Andreea TUDOR - Showering for Instagram: Performative Hygiene and the Environmental Externalities of Social Media in Europe

Cătălin MURARAŞU - Offshore Renewable Energy in the Black Sea: Emerging Opportunities and Challenges

Ramona Iulia DIEACONESCU, Maria GHEORGHE (NIŢU) - Circular Economy and Supply Resilience of Critical Raw Materials in the European Union

Sorin-Nicolae CURCĂ - Synergic Effects of a (Possible) European Fiscal Union

Revista ŒCONOMICA - Book Review: From Cantillon and Kirzner to O'Driscoll and Rizzo – the collection of the National Bank of Romania, from Curtea Veche Publishing House, offers a triple journey into the history of economic thought

Articles on Issue Theme

Andreas STAMATE-ŞTEFAN

Academia de Studii Economice din Bucureşti

Focused especially on the causes, Woods elegantly discovers in the tradition of the Austrian School of economics of Ludwig von Mises and Friedrich von Hayek (Nobel Laureate, 1974) that the main culprit for the creation of crises – or, as economists explain, the boom bust cycle or business cycle – is the monetary system’s nature. As he goes, it is a system that allows a process of artificially expanded money supply which necessarily ends in a general increase in the level of prices (inflation) which erodes the purchasing power of people’s money.

ŒCONOMICA no. 2/2014

Keywords: crisis, money, bailout, depression

JEL: B53, E31, E32, E42, F44, H81

Boom-Bust Cycles are Not in the Nature of Things (Review of \"Meltdown. A Free-Market Look at Why the Stock Market Collapsed, the Economy Tanked, and Government Bailouts Will Make Things Worse\", by Thomas E. Woods Jr.)

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