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Any Progress in Stable Economics?

  1. Jul 6, 2009 #1
    Just a thing I have been mulling over in my head lately has been the thoughts of stable economics (not reactionary Keynsian economics that the government has been employing).... it seems with all of the smart people in the US and around the globe we are still nowhere near a 'stable' economic system that is not burdened by enormous debt loads and crazy market swings..... I was just wondering if there has been any thought to this topic and if so what ideas have come about...
  2. jcsd
  3. Jul 7, 2009 #2
    There are lots of ideas on business cycles, which is what I think your talking about, but macroeconomics isn't really a science yet, there is no academic consensus on what causes business cycles, and what, if anything, can be done about it. The economy is a complex system and can't really be "designed". Adjustment to real changes in the world is necessary. The economy is constantly adjusting as new information is discovered, and to try to prevent prices from adjusting in the name of "stability" can have dangerous consequences.
  4. Jul 7, 2009 #3


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    stability is unstable (nod to Hyman Minsky)
  5. Jul 7, 2009 #4
    There is a school of thought (Austrian Economics) which believes that the business cycle is in a large partly caused or at least exaggerated by artificial low interest rates. Read the book, "The Dollar Crisis by Richard Duncan"
    Last edited: Jul 7, 2009
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