The economic paradigms need to be updated

Artikel

This contribution deals with the current problems of the stagnating European economy: a high level of debt, political instability and a lower level of ethics. The growth of the income gap in society is viewed as one of the most pressing problems. Reference is made to the ineffectiveness of traditional fiscal and monetary policy, the problematic nature of solutions based on new tools, such as quantitative easing, and the low level of the effectiveness of implemented regulatory projects, which reduce the efficiency of regulated business. In a quest for new approaches to correcting economic paradigms, the authors recommend greater anticipation of empirical and behavioural approaches, or, possibly, even a return to the beginning - ie. to the ideas of the free market.

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Journal: European Financial and Accounting Journal ; ISSN: 1805-4846 ; Volume: 11 ; Year: 2016 ; Issue: 2 ; Pages: 69-76 ; Prague: University of Economics, Faculty of Finance and Accounting

Classification and Topics

• Classification: Management ; Role of Economics; Role of Economists; Market for Economists ; Economic Methodology ; Welfare Economics: Other ; Conflict; Conflict Resolution; Alliances; Revolutions ; Insurance; Insurance Companies; Actuarial Studies
• Subject: Behavioural approaches ; Economic paradigms ; State regulation

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Daňhel, Jaroslav ; Ducháčková, Eva ; Radová, Jarmila
• Event: Veröffentlichung
• (who): University of Economics, Faculty of Finance and Accounting
• (where): Prague
• (when): 2016

Further information

• DOI: doi:10.18267/j.efaj.158
• Handle: http://hdl.handle.net/10419/187740
• Last update: 10.03.2025, 11:41 AM CET