Revista OEconomica

Tudor Constantin BĂLAN - Cycles of Freedom: Are Our Rights Today Permanently Secured, or Are We in a Transitional Phase? The Cases of Great Britain, the United States, and Russia

Marius-Cristian PANĂ, Adela BĂLAN - Economic Freedom and Prosperity: A Comparative Analysis of Welfare Determinants at the International Level

Ana Octavia ALBU - When Accurate Forecasts Still Produce Waste: Demand Shocks and Over-Forecasting Risk in Food Retail

Adrian-Ioan DAMOC - The Persian Pivot and the Reconfiguration of Geopolitical Realism: Iran and Venezuela in Strategic Competition among the United States, China, and Russia

Emmanuel Olusegun STOBER - Coercive Diplomacy in the Gulf and the Limits of the Strike-Forward Strategy: Toward a Middle-Power Coalition for Regional Stability

Sorin-Nicolae CURCĂ - On the Informational Entropy of Economic Shock

Florin DĂNESCU - The Banking Sector as Critical Infrastructure in the Logic of Hybrid Conflict: Post-2014 Legislative Convergence in Central and Eastern Europe and the Case of Romania

Alexandru POPOVICI - The Contribution of the Music Industry to GDP and Employment: A Comparative Analysis

Mohammed AL-NASSERY - Implications of the War in the Middle East: An Analysis of the Economic, Security, Humanitarian, and Political Dimensions

Mihai LĂCĂTUŞ - GDP as a Means, Not an End: Inequality as the Missing Variable in Fiscal Policy Design – A 60-Country Analysis of Economic Growth and Subjective Well-Being

Articles on Issue Theme

Emil DINGA

Academia Română

The paper has as goal to revisit the general concept of causality, with some specifications to the social (especially economic) field. The logical conditions of causality (individual causes as well multiple causes) are proposed and evaluated. Based on causality concept, the correlation notion is introduced and formalized, in order to classify as general as possible the real interactions among things. As result, the correlation is defined as a structural, not-causal interaction, which could have a remarkable stability on the significant horizon of time for the cognitive or praxiological subject. Finally, some formalization suggests the economic correlation could be the best predictor in the economic field, the price paid being the loss of individual prediction of the effect: based on the economic correlation, only a multiple effect will be predicted and only based on a multiple cause.

ŒCONOMICA no. 1/2014

Keywords: multiple cause, multiple effect, causality, economic correlation, economic prediction, predictor

JEL: B41, C00, E17

Correlation and Causality [Corelaţie şi cauzalitate]

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