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The Crisis and Capitalism: from Marx to the “Smart Guys” on Wall Street


The recent crisis brought a new trend in economic and political debates, one according to which it is “cool” to be anti-, anti-market, anti-capitalism, anti-economy. Some kind of paradox of modernity, meaning a popular form of anti-system revolt, although if we take into consideration the “Occupy Wall Street” phenomenon, even only as a simple illustration, it is easy to

The Currency and the Monetary System


From all the issues and areas the economic science deals with, only a few are more debated than the monetary aspects. We face fierce controversy everywhere: when and to what extent are “cheap money” or “expensive money” better? are there any economic responsibilities a central bank has to carry on and why? what is the optimal money supply for the economic system?

What We Did Not Understand from Recession: Time Matters!


During all these years (seems like forever), the recession was described as being a catastrophe, almost like the war. A scourge of the economy that becomes ruinous, especially for the contemporary civilization. However, to clarify this, the recession is not the cause, but only the effect. The recession does not reflect anything else but previous deviations of the economy from its

The Reduction of Social Security Contributions: How Much Would It “Cost” the Budget?


In the European Union’s fiscal map, Romania can still be considered competitive when it comes to taxes, at least when it comes to taxing profits, through its 16% flat tax rate. Yet when it comes to taxing labour, things are different. Through social contributions and the payment ceiling – established in a strong redistributive way at 5 times the average gross wage – wage

Structural Reforms and Property: Back to the Origins


We should admit that, even if it is a European state through institutional adoption, nowadays Romania does not truly demonstrate that it made the decisive step towards the principles of a market economy, which would bring Romanians the so-longed good life and prosperity. Currently, the Romanian economy is almost entirely built through and around the state

Cosmin Marinescu