THE ECONOMIC BUBBLE AND ITS MEASUREMENT

  • Carmine GORGA The Somist Institute, Gloucester, Massachusetts, USA
DOI: https://doi.org/10.14505/tpref.v8.1(15).02

Abstract

In mainstream economics, the sight is restricted to forms of financial bubbles. In Concordian economics, rather than the behavior of the financial markets. instead, a bubble is defined as a separation of monetary values from values of real wealth. Hence, the concern is with the behavior of the entire economic system. Once defined, Concordian economics allows us to measure the bubble. To obtain this result, Concordian economics overcomes one of the major hurdles in economics, that is the measurement of real wealth as an entity separate and distinct from monetary wealth.

References

[1] Gorga, C. 1987. "The Productivity Standard: A True Golden Standard” (with Norman G. Kurland), Dawn M. Kurland editor, EVERY WORKER AN OWNER: A Revolutionary Free Enterprise Challenge to Marxism, Washington, D.C.: Center for Economic and Social Justice.
[2] Gorga, C. 2002. The Economic Process: An Instantaneous Non-Newtonian Picture. Lanham, Md. and Oxford: University Press of America; republished in a paperback expanded edition in 2009 and 2016.
[3] Gorga, C. 2012. "Beyond Keynes….. toward Concordian Econometrics", International Journal of Applied Economics and Econometrics, Part III of the Special Issue on J.M. Keynes, 20 (1): 248-277. Republished in Econintersect, May and June 2016.
[4] Rothbard, Murray N. 2010. Strictly Confidential: The Private Volker Fund of Murray N. Rothbard, David Gordon editor. Ludwig von Mises Institute, Auburn, AL.
[5] Rubin, M. D. 2016. Personal communication, August 30
Published
2017-06-30
How to Cite
GORGA, Carmine. THE ECONOMIC BUBBLE AND ITS MEASUREMENT. Theoretical and Practical Research in Economic Fields, [S.l.], v. 8, n. 1, p. 19-23, june 2017. ISSN 2068-7710. Available at: <https://journals.aserspublishing.eu/tpref/article/view/1286>. Date accessed: 22 dec. 2024. doi: https://doi.org/10.14505/tpref.v8.1(15).02.
Citation Formats
Issue
Vol 8 No 1 (2017): TPREF, Volume VIII, Issue 1(15), Summer 2017
Section
Articles

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