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Tag Archives: Politică monetară

The Crisis and the State: from European Realities to Institutional Imperatives


Anchored, by definition, in the logic of budget balance, the Victorian fiscal morality became today, in contemporary democracy, worthy to be displayed in the museums of economic history. Nowadays, the Keynesian doctrine – in its original version or in its reloaded post-crisis version – established a true status quo of budgetary deficits and public debts. Overwhelmed by the

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

Crisis Journal: Capitalism Assumed Guilty


In this “journal” I do not necessarily focus on the current economic crisis. I do not aim to portray the statist conditions that maintain economic cycles, with all the theoretical details that explain the causes of the crisis. There have already been written and there will be written such stories, more or less technical, in the anatomy of the crisis. Here and now I am preoccupied to draw