Tag Archives: Cosmin Marinescu
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
The Myth of “the Efficiency Criterion” in Economic Science
“Efficiency” is the marvellous concept based on which almost all economists build their judgements and theories since forever. But the way in which the efficiency argument has been used explains many of today’s bad aspects. Using “the efficiency criterion” on state policies has insurmountable scientific limitations. Ignoring them, due to lack of knowledge or rather out of interest, easily led
