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The Theory of Crisis after Crisis

Author

Listed:
  • Mladenović Igor

    (University of Niš, Faculty of Economics, Serbia)

  • Kitanović Dragoslav

    (University of Niš, Faculty of Economics, Serbia)

Abstract

The global economic system and the world crisis are a reality, and hence the challenge for modern economic theory, which is to provide a valid response to its development and overcoming the crisis. The prevailing economic theory and methodology (neo-liberal paradigm) in this field demonstrates serious defects, so this paper attempts to show that the relative nature of economic theory is in expressing the social prejudices of its time. Demystification of the ideological and political foundations of what is today considered "objective knowledge" in the economy, is only possible with the affirmation of a new scientific methodology of economics, i.e. the new philosophy of economics. The aim of the paper is to stimulate thinking and different views on this subject.

Suggested Citation

  • Mladenović Igor & Kitanović Dragoslav, 2014. "The Theory of Crisis after Crisis," Economic Themes, Sciendo, vol. 52(1), pages 1-12, March.
    • Handle: RePEc:vrs:ecothe:v:52:y:2015:i:1:p:1-12:n:1
    DOI: 10.1515/ethemes-2014-0001
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    References listed on IDEAS

    as
    1. Thomas I. Palley, 2013. "Financialization: What It Is and Why It Matters," Palgrave Macmillan Books, in: Financialization, chapter 2, pages 17-40, Palgrave Macmillan.
    2. Nelson, Richard R., 2008. "What enables rapid economic progress: What are the needed institutions," Research Policy, Elsevier, vol. 37(1), pages 1-11, February.
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