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1 Prosopon. Europejskie Studia Społeczno-Humanistyczne

1 2021

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Ethics‘ view of the dispute over the roots of economic crises

100%

Ryziński R. , Halčišáková N.

2021

nr 1(34)

15-25

Our article is an attempt to compare opinions on the causes of the global economic crisis of 1929–1934, as well as to express the ethical consequences that result from the comparison of opinions. First of all, we tried to present several intellectual responses to the causes of the crisis, as well as their evaluation. We were most interested in those authors who either consider the corrective interventions of the state as a legal entity in the macroeconomics to be desirable or, conversely, harmful. We have largely focused on the conflicting views of John Maynard Keynes and Milton Friedman, but we have also touched on other positions. Finally, we have expressed an opinion on the ethical consequences that are linked to the mentioned adversarial views. We have carefully tried to express the view that at least some state intervention in the economy is necessary, as the market is not omnipotent at the macroeconomic level.