TheMarketForIdeas

Three “Mister K” and Our Recovery from Eastern European “Kafkian” AbsurdumOn the Lives and Writings of L. Kołakowski, J. Kornai and V. Klaus

No. 31, Sep.-Oct. 2021

Octavian-Dragomir Jora Mihaela Iacob

In Kafka’s novel, Das Schloß [The Castle], there is a gentleman bearing the name “K” who unsuccessfully tries to obtain a hearing with the enigmatic ruler of a bureaucratic citadel dominating, physically and psychically, an alienated village.... More

Social Justice – A Key Tool to Fight Against Social InequalityEconomy Near Us (XLIV)

No. 30, Jul.-Aug. 2021

Gabriela-Mariana Ionescu

By considering that social justice is a principle for generating the basic structure of the society, three such approaches to social justice theory are known in the specialty literature: the approach based on fairness, the approach based on capability and.... More

The Macroeconomic Dashboard: From Financial to Corona Crisis

No. 30, Jul.-Aug. 2021

Cosmin Marinescu

Worldwide, economies periodically face cyclical evolutions, economic crises, shocks generated by exogenous factors of the economic system, as is happening right now amid the health crisis caused by the COVID-19 pandemic. The common.... More

Requiem for the Forever War

No. 30, Jul.-Aug. 2021

Alexandru Georgescu

The Biden Administration, contrary to its partisans’ and detractors’ expectations that it would dither or outright renege on the previous Administration’s plans to exit Afghanistan (overtly), pulled the trigger on a ramshackle retreat that created.... More

The Lockdown-Quagmire

No. 30, Jul.-Aug. 2021

Henrique Schneider

Economics tells us that every decision comes at a cost, an opportunity cost. In the same period of time that I am writing this article, I could have done other things. Deciding to spend time writing automatically entails missing out, for example.... More

New Institutional Economics, the Anthropomorphization of Institutions and Pathologies of Organisations

No. 30, Jul.-Aug. 2021

Sebastian Bălănică

One of the main weaknesses of New Institutional Economics (NIE), identified by Herbert Alexander Simon (1991), is the inability of NIE to understand organizations, and thus the institutions themselves, on account of the fact that the mechanisms.... More

The Lords of the Olympic RingsOn the obverse and reverse of coins and medals

No. 30, Jul.-Aug. 2021

Octavian-Dragomir Jora

The idea of sport is associated to peace almost in a reflex manner. At the same time, prosperity is being called into the arena of sport’s allies. But if we overcome the reflexes and become reflexive, we can take into account the.... More

The Obese State – A Political Metaphor or a Milestone?Economy Near Us (XLIII)

No. 30, Jul.-Aug. 2021

Emil Dinga

This is not the place and the occasion to deeply discuss the crucial (and endless) issue of the size of the state and its involvement in society (especially in the economy). From the minimal state shaped by the invisible hand (Nozick), to the contractual.... More

Benedetto Croce – Liberal, Idealist, Activist (In This Order)

No. 30, Jul.-Aug. 2021

Alexandru-Costin Udrea

Many people throughout history are known for acts of great courage and grand conquests. Some live by through immortal creations forever bearing their name. Others were examples of irreproachable ethics and conduct, strength of character.... More

Penetrating the Fog of Culture War

No. 30, Jul.-Aug. 2021

Steven Alan Samson

Protracted conflict is a historical phenomenon. It attends upon every systemic breakdown and the ensuing quest for a new equilibrium. Every revolutionary movement issues from a position of physical inferiority vis‑a‑vis the defender of.... More

Crypto-Kim: Blockchain, Yes; Break Chains, No

No. 30, Jul.-Aug. 2021

Narciz Bălășoiu

The incredible speed with which technology has developed has often left a gap in the regulation of their use. The lack of regulation has become extremely visible in the field of cryptocurrencies, which can be termed as “virtual money”.... More

Why Nations Move Their Capitals

No. 30, Jul.-Aug. 2021

Mihai Răzvan Nedelcu

When asked about the capital city of a country, the obvious answer may not be the correct one and there are plenty of examples for this. Usually, we tend to think of cities like Istanbul, Sydney, Lagos or Rio de Janeiro as being capitals, but in.... More

The Place of Football in the Political Culture of the Twentieth-Century British Working Class

No. 30, Jul.-Aug. 2021

Ioana Diaconescu

Today, football is one of the world’s most popular cultural phenomena. But in order to understand how this ball game has managed to transcend virtually all physical and cultural boundaries, we must take a quick look at its origins.... More

Adaptive Preferences in the Labour MarketEconomy Near Us (XLII)

No. 29, May.-Jun. 2021

Gabriela-Mariana Ionescu

We are currently witnessing a reconfiguration of labour market requirements both in terms of employment and in terms of significant changes in skills and knowledge required by digital technologies, with an effect on contractual work.... More

On Conspiracy Theories and Theorizing

No. 29, May.-Jun. 2021

Alexandru Georgescu

We are inundated with both conspiracy theories and warnings to recognize them as such and ignore them. These instructions come from legitimate elites employing legitimate media sources that feel they are being crowded out by “alternative facts”.... More

Pleas for Trade Remain Trendy in the Midst of Globalization(Review of Adrian Constantinescu’s, Mechanisms and tools for export stimulation [in Romanian: Mecanisme şi instrumente de stimulare a exporturilor], Expert Publishing House, the Romanian Academy, Bucharest, 2021)

No. 29, May.-Jun. 2021

Costea Munteanu

As an economist, I share the belief that, when it comes to realistic alternative systems of social organization, we always choose between the state and the market, between coercion and private property, bureaucratism and entrepreneurship. Thus.... More

The Great Reset: Rethinking the Future of Work

No. 29, May.-Jun. 2021

Emmanuel Olusegun Stober

In retrospect, the year 2020 will certainly be seen as the Great Reset. This theme is one that have been echoed repeatedly from different quarters. It is almost certain that post-Covid, the world of work will no longer be geographically bound.... More

Transatlantic Exchange: Introducing Francis Lieber

No. 29, May.-Jun. 2021

Steven Alan Samson

It is remarkable how quickly America was transformed from an isolated agrarian republic in 1800 into a hegemonic industrial power by 1900. Intellectual and cultural changes that began taking root in the early half of the century yielded a.... More

Piketty-Saez v. Lakner-Milanovic: Visions on Income InequalityA comparative analysis

No. 29, May.-Jun. 2021

Ioana Diaconescu Sebastian Bălănică

The issue of labor in contemporary Economics and society is a very interesting one. First of all, the rapid changes such as the accelerated evolution of technology and the emergence of new economic paradigms have radically influenced the vision.... More

Tackling Climate Change and the COVID-19 Pandemic CrisisEconomy Near Us (XLI)

No. 29, May.-Jun. 2021

Sorin-Nicolae Curcă

The issue of climate change has been a global concern in recent years. Based on the theory that global warming is caused by human activity, in the context of industrialization in the last century, governments, corporations, non-.... More

How Spare Time Legislation Impacts the Workforce in the WestIs the labour market capable of regulating itself?

No. 29, May.-Jun. 2021

Petru-Răsvan Iatan

With today’s modern world being as complex and susceptible to constant change as it is, it is safe to assume that few people, if any, would be able to envision a lifestyle without some basic form of balance. Said balance is sure to include a set of.... More

Five “Good” Reasons to Hate Economics

No. 29, May.-Jun. 2021

Radu Vrânceanu

We live in a world where hating something is trendy. Some hate Hawaiian Pizza, some others hate the rich, some hate immigrants, some people hate rap music, etc. Some people hate economics. What is economics about? I would refer to it as a social.... More

Deciphering Timelessness through Ephemeral NumbersIn memory of Professor Cezar Mereuță (1936-2021)

No. 29, May.-Jun. 2021

Octavian-Dragomir Jora

I first made the acquaintance of Professor Cezar Mereuță in the most natural way a young novice economist can meet a master of the profession: as a name on a textbook. In the Professor’s case, his exposure to “the market for ideas” has always been.... More

IP, Fire, and Other Dangerous Things

No. 29, May.-Jun. 2021

Henrique Schneider

Why is there more money being invested in the development of (video) games than in research of new drugs and medicine? Well, the claim underlying the question may be overblown. But there is evidence for the gaming industry being larger than the.... More

Romania’s Loss of Competitiveness Compared to Hungary and PolandThe real effective exchange rate – a critical indicator

No. 29, May.-Jun. 2021

Dan Pălăngean

Romania has improved its competitiveness compared to the Czech Republic and Bulgaria at the regional level in recent years but lost ground compared to Croatia, Poland and Hungary, according to data released by Eurostat. With an index.... More

The Advantages of an Adequate Minimum WageEconomy Near Us (XL)

No. 28, Mar.-Apr. 2021

Gabriela-Mariana Ionescu

We find today, in the specialty literature, analyses and studies that focus on the quality of life, and these frame the concept of wellbeing as concerning the individual and referring to a state. In these works, the semantic features of the concept of.... More

Seven Things the Suez Canal Incident Taught Us about Globalization

No. 28, Mar.-Apr. 2021

Alexandru Georgescu

The recently resolved Suez Canal incident was the second high profile crisis in global logistics since the beginning of the pandemic. It underscored the significant vulnerabilities of an interdependent world in which supply and production.... More

Professor Cezar Mereuță’s Paretian Odyssey ContinuesThe unexpected results of a research that analyzes two parallel worlds, the economy and the pandemic: 10% of the countries of the world generate 80% of the world GDP, but also 80% of the total COVID-19 contagions

No. 28, Mar.-Apr. 2021

Adelina Mihai

A paradox confirmed by statistical data: the nodal analysis, used in economics to show that the strongest 10% of the players in a market generate 80% of the total sales in that market, also applies in the field of... the pandemic. This is revealed.... More

Public Schools, a Rival for Racism and Xenophobia

No. 28, Mar.-Apr. 2021

Gabriel Voicu

Some believe that we live in a world that is advanced and effortlessly evolving in so many different ways, yet it is also stuck and old-fashioned in other ways. Paradoxically, the modern world that we live in is still exposed to racial conflicts.... More

The Long-Lasting Effects of Colonial PoliciesWhy some post-colonial nations succeed while others do not

No. 28, Mar.-Apr. 2021

Mihai Răzvan Nedelcu

Whenever we talk about Canada, New Zealand, Libya or Indonesia, we need to bring up the colonial empires which dominated much of the modern world up until the beginning of the Cold War. The periods under colonial rule differ, with.... More

The 2020 GDP of RomaniaEqual to the 2019 GDP in nominal terms and the 2018 one in real terms

No. 28, Mar.-Apr. 2021

Dan Pălăngean

The National Institute of Statistics confirmed the signal result of the economic growth for 2020 at the level of -3.9%, in the first preliminary version made public. The nominal value resulting from the overall calculation for the last year was RON.... More

A Few Considerations about the Gender Gap in the COVID-19 Impact on the Labour MarketEconomy Near Us (XXXIX)

No. 28, Mar.-Apr. 2021

Monica-Florica Dutcaș

March marks one year since Romania entered a state of emergency and remained on alert due to the pandemic. The Romanian state, like all of the states of Europe and the world, is still looking for solutions to limit its spread. The priority.... More

A Reactionary Response to a Likewise FootballFrom Conference League to Super League

No. 28, Mar.-Apr. 2021

Alexandru-Costin Udrea

Context: TheChampions League (CL) is the greatest inter-club football competition in Europe and the entire world. Organised every year, it includes the best 32 European football club teams: 26 qualified in advance, while six of them have to go.... More

The Evolving Identity of the Firm. Cognitive Peculiarities and Idiosyncratic Perceptions

No. 28, Mar.-Apr. 2021

Alexandru-Ștefan Goghie

Research into the theory of the firm began with the publication of “The Nature of the Firm” (Coase, 1937), which led to the appearance of four essential questions about the nature of the firm. Why do firms exist? Why are these organized the.... More

The Intersection of Religion and Economic Behaviour

No. 28, Mar.-Apr. 2021

Bogdan Tatavura

The World Bank published two years ago a study conducted by two Bulgarian economists, Simeon Djankov and Elena Nikolova, which shows major differences in attitudes toward state authority and the adoption of new ideas between Orthodox, on.... More

The Road to a Free EconomyOnce upon a time in 1989. And the journey is on going

No. 28, Mar.-Apr. 2021

János Kornai

János Kornai needs no introduction to our readers. He is an intellectual force to be reckoned with in the service of liberty. The following pages are an extract from his memoirs specifically selected from a time of great change in Hungary, to.... More

Binding Leviathan: The Case for Institutional Liberty

No. 28, Mar.-Apr. 2021

Steven Alan Samson

In political theory, as in any inquiry, a question must begin with a perception or a premise. The question is this: How can the identity and integrity of a self-governing institution – whether a church, business, school, even a family – be maintained.... More

Realities and Perspectives of a New Social ParadigmEconomy Near Us (XXXVIII)

No. 27, Jan.-Feb. 2021

Gabriela-Mariana Ionescu

Society is currently undergoing a series of transformations, as a result of the effects of the global pandemic, with consequences in all areas of our existence. Approaching from a conceptual point of view the present reality, the concept of entropy returns.... More

Pablo Neruda – Poetry, Polities, PeaceMasters of Diplomacy (III)

No. 27, Jan.-Feb. 2021

I.N. Bălășoiu A.M. Bogdan I.A. Pavel

One of the greatest poets that have ever lived in the Latin America was none other than the Chilean Pablo Neruda (photo: right) born under the name Ricardo Eliécer Neftalí Reyes Basoalto. He was born in Parral, Chile on July 12, 1904.... More

Beneath It All in Hungary Is Political Corruption

No. 27, Jan.-Feb. 2021

Máté Hajba

Hungary is the black sheep of the European Union. Its contrarian agenda offends the common opinion of other Member States. Just recently, the Hungarian government not only threatened to veto the EU recovery budget but also voiced its.... More

Vijaya Lakshmi Pandit – Casting a Flood of Light on IndiaMasters of Diplomacy (II)

No. 27, Jan.-Feb. 2021

I.D. Androne C.E. Anghelescu

What does it take to fight for the freedom of your country? Some may say it takes courage, strength of character or faith. Some may say you need to be a hero, but The Great Daughter of India, as Vijaya Lakshmi Pandit (photo: right) was often called.... More

Long-Term Interest Rate Fell Below 3%A courageous change of economic vision would be required

No. 27, Jan.-Feb. 2021

Dan Pălăngean

Long-term interest rates for Romania fell by almost one percentage point in just two months, according to data released by Eurostat. After increasing up to 4.83% in April 2020, at the end of June it reached a level below the threshold of four.... More

Vespasian V. Pella – A Peace FighterMasters of Diplomacy (I)

No. 27, Jan.-Feb. 2021

A. Chiriță N. Cravcenco L. Cujbă

It is indisputably mandatory, Vespasian Pella (photo: second from the right, sitting at the table) asserted, to have the following in order to prevent and combat the state “collective crime” – a recognition of the war’s criminal nature, alongside the.... More

Automatic Stabilizers as Publicly-Oriented PredictorsEconomy Near Us (XXXVII)

No. 27, Jan.-Feb. 2021

Emil Dinga

In the economic process, the volatility of macroeconomic variables is not the true problem, but its unpredictability. In fact, this conclusion is equally valid for microeconomics. For example, under the EMH – Efficient Market Hypothesis – a.... More

When the Appetite for Entertainment Scores Goals

No. 27, Jan.-Feb. 2021

Vlad I. Roșca

Romania is attacking on the left side of the pitch, Răzvan Marin and Florin Tănase have a short exchange of passes in the corner of the penalty box, which opens some wide spaces for the latter to penetrate and make a decisive pass for Eric Bicfalvi.... More

The Pandemic Recession and Government Stimulus

No. 27, Jan.-Feb. 2021

Emmanuel Olusegun Stober

Never before has the global economy been deliberately put into an induced coma. Owing to the coronavirus pandemic, businesses are struggling to break even and unemployment is soaring high. The sudden shock called for a speedy and.... More

Romanian National Culture Day and the New Normal

No. 27, Jan.-Feb. 2021

Mariana Nicolae

Do not worry: this is going to be short and… bitter. Bitter is good. In drinks, according to personal taste, and in real life, because it prompts reflection.Therefore, here is what I want to reflect upon today – once again on the National Culture Day of us.... More

The Effect of Brexit on Romanian Foreign Trade

No. 27, Jan.-Feb. 2021

Dan Pălăngean

Over the last few years, the United Kingdom has been Romania’s most important foreign trade partner with whom we have managed to record a significant trade surplus. The island economy’s exit from the community bloc and the.... More

Will Lithuania Reclaim Its Own Business Tax Model?

No. 27, Jan.-Feb. 2021

Aneta Vainė

The recent parliamentary elections in Lithuania have sparked hope that after 18 years the country will revisit its decision to give up a zero-tax rate on reinvested profits, a regime that gave an immense impetus to the country’s investment and.... More

Piloting Through the 2020 Corona-World:•An objectively subjective selection•

No. 27, Jan.-Feb. 2021

The Market for Ideas

The much-lauded Chinese curse of living in interesting times has certainly applied to 2020. The year saw many disruptions, but also the fulfilment of key trends related to inter-state and intra-state conflict. While no one will mourn its end, we may be right.... More

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