The Basic Assumptions of Previous Economics

The economy, when studying the textbooks of economics, seems inevitably and unavoidably to be a fluctuating, hovering, and trembling tightrope walk at great heights, and every smallest misstep, every wrong decision, every breath of air can lead to the collapse of the fragile balance and to a crash. Samuelson & Nordhaus, for example, describe the economy entirely without irony asBontrup notes:and Stiglitz & Walsh state:The crisis and the fear of the crisis, the constant attempts to foresee and avoid it, to mitigate its consequences and to overcome it, seem almost like a natural law to be the permanent companions of all economic events.