Theoretical and Applied Economics
No. 9 / 2012 (574)
Economic fundamentals: between consecration and contestation
Bucharest Academy of Economic Studies
Abstract. Currently, the whole world has fallen prey to the most profound and long recession in the history after the war. Based on the causes and effects of the current crisis, can we say exactly which is the best economic trend that evokes the reality of today? Representatives of classicism, neoclassicism, Keynesianism, monetarism, economic liberalism etc.? Economic laws will remain in the same stage or will change? Certainly, there will be an adjustment in economic thinking and the economic crisis will force us to choose a different economic model, based primarily on rationality, morality and temperance.
We can even say that a quick return to the Middle Ages, the economic thinking of the scholars, who maintain those principles of economic life dependent and religious morality, by accepting the conditions of inequality as a source of virtue practiced, and detachment from wealth, combined with the principles of economic life in capitalism, could lead to a moral economic model, linking the two categories of facts: religion and economic development, as Max Weber stated in his book “Protestant Ethics and the Spirit of Capitalism”.
Contents
Innovative clusters: a solution for the economic development of Romania
Corruption, democracy and bureaucracy
Testing weak form informational efficiency on the Romanian capital market
The impact of labour market imbalances on regional disparities in the post-crisis context
Laggards or performers? CEE vs. PIIGS countries’ catch-up with the Euro Area in the last ten years
Economy of Referential Preferences A new mathematical approach for choice theory and general equilibrium
The industry of copies – obstacle for the economic recovery. Examples from the markets
The road to the new economy
Globalization and the identity dilemma
Economic fundamentals: between consecration and contestation