Articles on Issue Theme
Octavian-Dragomir JORA
Academia de Studii Economice din Bucureşti
Se tot spune că gândirea economică pro-capitalistă şi gândirea economică (generală) sunt, esenţialmente, sinonime. Ştiinţa economică este necesară şi importantă prin aceea că ne învaţă un fapt tulburător de simplu: viaţa şi bunăstarea oamenilor depind de producerea de avuţie reală, iar aceasta, la rândul ei, depinde de diviziunea muncii. Iar diviyiunea muncii nu există şi nu funcţionează automat, ci depinde, crucial, de legile şi instituţiile societale pe care ţările lumii le adoptă.
ÎNTEMEIERILE PRAGMATISMULUI ANTICRIZĂ: TEORII VS. IDEOLOGII
Silviu CERNA
Universitatea de Vest din Timişoara
The crisis, in a dazzling way, shows not only that state regulation of financial activities is ineffective, but that political subordination of this activity, rather than an obligation to make a profit, thus creating a higher value than is consumed, leads, in the long term, to an unsustainable system. There is no durable economy without profit and there is an ineluctable need to make profits only in the market economy.
Keywords: credit, crisis, market, state
JEL: E3, E5, E6, P1
Criza, statul şi piaţa
Lucian CROITORU
Banca Naţională a României
The economic crisis triggered in 2007 made many believe that a relatively long period will follow, where the public will favor a greater role for the state. I appreciate that, on the contrary, the public attitude will act in the opposite direction and that, for a long period of time, we will witness a gradual reduction in the economic dimension and in the power of the state.
Keywords: state, market, public choice, economic systems, crisis, public policy
JEL: H11, H20, O10
O falsă problemă: compromisul între constrângerea externă şi imperativele sociale
Daniel DĂIANU
Societatea Română de Economie (SOREC)
There is a line of reasoning which argues that the main source of the current financial crisis is the cheap money of the past, which would have caused large global imbalances and another, that I share, is that something wrong has been occurring with overall financial intermediation. The structure has been no less important in derailing economies than poor policies and unavoidable cyclical dynamics.
Keywords: financial crisis, regulation, global imbalances, financial intermediation
JEL: E42, E43, E44, E51, E52, E58
Regaining Financial Stability: Taming Financial Markets Is a Must – a Focus on NMSs
Nicolae DĂNILĂ
Academia de Studii Economice din Bucureşti
The current crisis has proven the importance of the national banking system. Sovereign funds will play an important role in reinforcing the position of several emerging countries and markets in the world. The great amount of financing needed in order to fix the problems and the gaps brought by the crisis will require the massive involvement of the excess balances of the emerging world.
Keywords: globalization, crisis, state intervention, FX reserves, emerging countries, Euro, US Dollar, multipolarism, sovereign debt and sovereign funds, reform, convergence, vulnerabilities, UE, Eurozone, Romania
JEL: F15, F31, H12, H63, H68
Globalizarea crizei. Sau criza globalizării?
Jesus HUERTA DE SOTO
Universidad Rey Juan Carlos, Madrid
The logic of the historical evolution of the wrong institutional design that affects the financial and monetary system of the so called free market economies up to day is somehow easy to understand: bubbles did continue, financial crisis and economic recessions were not avoided, the bail out of banks was regularly demanded, the lender of last resort was created precisely to bail out the banks.
Keywords: state, market, central banking, fractional reserve banking, fiduciary media, economic crisis
JEL: B13, H11, H20, O10
Financial Crisis and Economic Recession
Octavian-Dragomir JORA
Academia de Studii Economice din Bucureşti
The lesson of crisis in economy, if we could condense it into a single idea, would sound like this: when private property gets mixed with illusion and fraud, the societal order becomes a tensed experiments system, both discretionary and costly. This is, in fact, the interventionism’s essence, as opposed to (or as deviation from) the private property order, in a jus-naturalist sense.
Keywords: private property, crisis, market, state, economics theory, political ideology, social democracy, conservatism
JEL: B13, D60, G01, H11, P43, Z13
O “sociologie” a crizei actuale: de la social-democraţia “subprime”-lor, la conservatorismul tip “too big to fail”
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Octavian-Dragomir JORA
Academia de Studii Economice din Bucureşti
Silviu CERNA
Universitatea de Vest din Timişoara
Lucian CROITORU
Banca Naţională a României
Daniel DĂIANU
Societatea Română de Economie (SOREC)
Nicolae DĂNILĂ
Academia de Studii Economice din Bucureşti
Jesus HUERTA DE SOTO
Universidad Rey Juan Carlos, Madrid
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