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The Economic Crisis – Meanings and Significations

Author

Listed:
  • Doinita CAZAN ZAFIU

    (Dunarea de Jos University of Galati, Romania)

  • Alina Florentina CUCOS SARACU

    (Dunarea de Jos University of Galati, Romania)

Abstract

The crisis can be defined as a period in the dynamics of a system, and it is described as a multitude of difficulties, as a conflict or tensions, fact that makes difficult its normal work or functioning and this can lead to powerful pressures towards changing, and „The crisis period represents the stage in which the changes within the system are determined by the actions of a system”. During the period of crisis, the threats changes into dangers which are at the basis of defining the insecure state of any system. The economic crisis represents a situation in which the economy of a country passes through a sudden decrease of its force, decrease usually brought about by a financial crisis. The economic crisis may have the shape of a stagflation, of a recession or of an economic depression.

Suggested Citation

  • Doinita CAZAN ZAFIU & Alina Florentina CUCOS SARACU, 2012. "The Economic Crisis – Meanings and Significations," Risk in Contemporary Economy, "Dunarea de Jos" University of Galati, Faculty of Economics and Business Administration, pages 111-114.
    • Handle: RePEc:ddj:fserec:y:2012:p:111-114
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    References listed on IDEAS

    as
    1. Mishkin, Frederic S, 1992. "Anatomy of a Financial Crisis," Journal of Evolutionary Economics, Springer, vol. 2(2), pages 115-130, August.
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    Keywords

    economic crisis; financial crisis;

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