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Liviu VOINEA
Academia de Studii Economice din Bucureşti

I state it from the beginning: I’m in favour of selective public intervention in the economy. Selective does not mean fundamentalism and neither ideology. Selective means pragmatic, where it is needed (a reaction approach) or where it might be needed (a preventive approach). The paper following bellow consists of three parts, and briefly recounts, sometimes even in detail, some ideas from my book "Sfârşitul economiei iluziei. Criză şi anti-criză: o abordare heterodoxă", that came out in November 2009, at Publica Publishing House and was republished in February 2010. The first part presents an analysis of the causes of the economic crisis in Romania, starting from the idea that we go through a domestic economic crisis, different from the global economic crisis (the latter was only the igniting factor, but the economic crisis in Romania would have happened anyway due to unsustainable macroeconomic evolutions). The second part refers to some myths of the nowadays Romanian economy, relevant in the context of State-Market relationship. Finally, the third part presents the main guidelines of a plan to escape the crisis, based on a new budgetary and fiscal policy and on the employment increase – an approach which emphasizes the “must have”-s of the State involvement within the market.


ŒCONOMICA no. 1/2010
Keywords: financial crisis, free markets, regulatory and supervision frameworks
JEL: G01, P51
Sfârşitul economiei iluziei. Miturile pieţei eficiente şi rolul statului în depăşirea crizei economice