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“The Recent Economist”: Between Scientific Relativism and the Recourse to Ethics

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In society’s evolution, ideas are the essential ferments of any change. There are no implacable laws of history and the future is not written in the stars or, to the “delight” of (macro) contemporary supporters of quantitative approaches, in the cyber-economic models that became the sterile fashion of economics journals – where exactly ‘economics’ is the endangered scientific

Ideas are the ones that really run the world

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Who runs the world – economics or politics? Both of them, or neither one especially. Both economics and politics have their own facets. We must think about a re-evaluation, from a scientific point of view, of the idea of “politics” as something omnipotent that solves anything and satisfies everybody, without costs and sacrifices. Economists would say that, logically, something like

Regional Gaps in a European Context: Is Romania Getting Closer to the Euro?

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More and more arguments are being introduced, either congruently or interchangeably, into the list of criteria for the adoption of the common currency. Sometimes, preconceived positions make their way through the multitude of invoked counter-arguments. Nominal convergence criteria have been continuously supplemented, sometimes

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

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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 Myth of “the Efficiency Criterion” in Economic Science

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magritte_2_bunEfficiency” 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

Cosmin Marinescu