The Market For Ideas

The value of agricultural output in Romania increased by 25% in 2021, according to the economic accounts for agriculture (EAA) for 2021 published by Eurostat. The sharpest rate of increase was recorded in Bulgaria (+37%) and the third best... More

What Cost Disinflation?

No. 38, Nov.-Dec. 2022

James Jay Carafano Anthony B. Kim

Sovereignty, Security, Prosperity, and the Future of the Eurasia Project

No. 37, Sep.-Oct. 2022

It is time to think big, far beyond China’s Belt and Road. From the Arctic Circle bordered by the Nordic nations in Europe to the steppes of Central Asia, the peoples that live and work across the breadth of the world’s oldest trade routes have an... More

The Digital Economy – Generating Opportunities or Vulnerabilities?Economy Near Us (LVIII)

No. 37, Sep.-Oct. 2022

Monica-Florica Dutcaș

I have argued several times (including in papers published in TMFI) that technological progress can be approached as an opportunity, since, through education and the training of new skills on the labour market, it creates circumstances... More

Romania: The Highest Shares of Children in Poverty or Social Exclusion in the EU

No. 37, Sep.-Oct. 2022

Among the EU Member States in 2021, the highest shares of children at risk of poverty or social exclusion were recorded in Romania, according to Eurostat data. The percentage of 41.5% was well above those for Spain (33.4%) and Bulgaria... More

Some Reflections on My Experience of Romania

No. 37, Sep.-Oct. 2022

Dennis Deletant

My first direct contact with Romania took place in July 1965. It was choreographed in such a manner that opportunities to meet members of the public were limited. An inescapable feature of life in Romania under the Communist regime was the... More

The Restless Desire of Power for Power

No. 37, Sep.-Oct. 2022

Today, the regulatory operations of central governments impinge upon virtually all areas of life, leading to widespread efforts by interest groups to have their vision of the good life implemented through law and regulatory oversight. Much of the... More

CAPITOL LETTERS (Ep. 12): The Truth per Thaler Spent (or the Return on Insightfulness)The Economics of Science

No. 37, Sep.-Oct. 2022

That Economics is a science is a statement against which it is difficult to argue. Be that as it may, enquiring “what kind of science it is” (exact or social science) should be taken as a pertinent question in its own right. Economists, both... More

The Hunger Games: Weaponizing Food

No. 37, Sep.-Oct. 2022

Emmanuel Olusegun Stober

Since the beginning of time, food has been used as a weapon of war. Enemies have tried to starve each other to death. The Romans did it, and so did the Germans, the Americans, and Britain weaponized food against India and the Central... More

CAPITOL LETTERS (Ep. 11): Across (Twelve) Land(s) and (Three) Sea(s)3SI. And a déjà-vu

No. 37, Sep.-Oct. 2022

Phobos, kerdos and doxa: fear, egotism and glory. These are the inner forces of human nature, according to Thucydides, the “grandfather” of political realism, if we are to concede paternity in modern times to H. Morgenthau. These forces animate... More

Material Consumption, a Key Problem for Sustainable Development in Romania

No. 37, Sep.-Oct. 2022

Romania is on the podium in the top 3 in terms of domestic material consumption between EU Member States and holds the first position in the category of non-metallic materials, which includes household garbage. The data were presented... More

CAPITOL LETTERS (Ep. 10): Samuel F.B. Morse, the Janusian CreatorAmerica’s Da Vinci (de)code(d)?

No. 37, Sep.-Oct. 2022

“What hath God wrought?” Biblical wonder in the face of divine creation, spelled out by a creative man of science and of art, a man of faith, as well as one of feud. Samuel F.B. Morse by his name, the founding father, in the electro-magnetic “field”... More

Give Us, God, Our Daily Experts (Part II)Economy Near Us (LVII)

No. 37, Sep.-Oct. 2022

I continue now with the other remaining two classes of incompetency (or, equally, of incompetents), which give themselves the high title of expert. In other places and moments, I have spoken about the conceptual distinction between... More

From Apollo to Artemis and Beyond

No. 37, Sep.-Oct. 2022

Dumitru-Dorin Prunariu

I consider human curiosity and quest for knowledge to be the main element that propels space exploration. We want to know what lies beyond the limits of our planet, beyond the limits of our solar system, beyond the limits of our galaxy, and to... More

CAPITOL LETTERS (Ep. 9): The Green New Deals TangoThe European and American eco face-lifts. And a point on the circular economy’s ruggedness

No. 36, Jul.-Aug. 2022

It is currently common sense (regardless of the amount of actual sense) to proselytize the teachings of “climate-changes-caused-by-man-and-to-be-reversed-also-by-man”. Before long, “Dubito” will be summarily excised from René Descartes’ famous... More

The Theory of Inflation Expectations on Trial

No. 36, Jul.-Aug. 2022

The concept of expectations has, arguably, been the crown jewel of contemporary macroeconomics. In itself, it represents roughly half of all so-called “micro-foundations” innovations that distinguishes modern macroeconomics from its... More

CAPITOL LETTERS (Ep. 8): Profit to the People!However, spelling CSR with “C” from compassion, not compulsion

No. 36, Jul.-Aug. 2022

“Profit to the People!”. But not by taking from (i.e., taxing) Peter in order to give to (i.e., to spend on) Paul (or putting it more bluntly, “robbing Peter to pay Paul”), but by letting Peter being Paul’s partner, employer or employee, supplier or customer and... More

The Geopolitical Game of Thrones and Europe’s Energy Crisis

No. 36, Jul.-Aug. 2022

Emmanuel Olusegun Stober

Ever since the Russia-Ukraine conflict started, it has evolved into an economic war between Russia, on the one side, and the European Union and the United States, on the other. While the US and the EU imposed heavy sanctions to cripple the... More

CAPITOL LETTERS (Ep. 7): The Noble (and Nobel-Winning) Losing Fight Against PovertyWe are still rich in poor judgments

No. 36, Jul.-Aug. 2022

In the essay The Soul of Man Under Socialism, Oscar Wilde puts forth a mindboggling argument for socialism. The poet thereby finds poor people uncomely, so he’d want someone (or something) to redeem them from the desolation of this... More

Protecting Fiscal and Constitutional Integrity

No. 36, Jul.-Aug. 2022

Liberty thrives under rule of law when it applies equally to all. What Francis Lieber called institutional liberty hinges on a willingness of the public and their leaders to recognize and uphold constitutional limitations on the state. Civil liberty... More

CAPITOL LETTERS (Ep. 6): The Gam(bl)er (Former and Future?) POTUSTrump, beyond the Mar-a-Lago “nuclear”/“unclear” foray

No. 36, Jul.-Aug. 2022

As a student, I used to sleep at night, as my days were fulfilling and filled with my studies and the like. My nights as a student in the dorm room were (for the most part) buzzing with an “audio-video” ecosystem. I contributed to the “video” aspect with... More

Give Us, God, Our Daily Experts (Part I)Economy Near Us (LVI)

No. 36, Jul.-Aug. 2022

On the concept of expert, as semantically opposed to the concept of the politician, I had spoken many times before, including, if I remember well, under this heading too. More exactly, in principle, the politician is an expert of purposes, while the expert... More

CAPITOL LETTERS (Ep. 5): The Antinomies of the UniverseHumaneness’s case

No. 36, Jul.-Aug. 2022

Philosophers, scientists, theologians, all appear to live with a somehow implicit and inbuilt mindset that the physical/metaphysical Universe is, despite its obvious oneness, a binary being. This mind-dazzling property seems to apply... More

Voices from the Goulash ArchipelagoThoughts on the Orbán speech

No. 36, Jul.-Aug. 2022

Hungarian Prime Minister Viktor Orbán has made his yearly pilgrimages to Băile Tușnad (Tusnádfürdő in Hungarian) in Romania into opportunities for oracular speeches on the fate of the Hungarian nation and for the West. This is part of... More

CAPITOL LETTERS (Ep. 4): The Smithsonian Republic of KnowledgeAn old world in the New World

No. 36, Jul.-Aug. 2022

Patronage is living proof that exceptional public goods can be produced, at least in part, privately. And this goes against the emphatical treatises on economics that theorize and preach the contrary. And when the theory seems far too dry for a... More

Today We Are Paying the Bill for Rapid Economic Growth

No. 36, Jul.-Aug. 2022

Małgorzata Porada-Rochoń

Rapid economic growth brings a lot of good things. If it also improves people's quality of life then we can talk solely about the benefits themselves. Except that something makes a difference. This rapid prosperity has to be paid for, sometimes long... More

Political Uncertainty and Inflation

No. 36, Jul.-Aug. 2022

Silviu Cerna

Recent political events in Romania (the removal of some ministers, the dissolution of the ruling coalition, the dismissal of the government by a motion of no confidence etc.) created a great deal of uncertainty regarding fiscal, monetary and... More

CAPITOL LETTERS (Ep. 3): The Price of Pricing the PricelessBeauty is also in the eye of the money-holder

No. 36, Jul.-Aug. 2022

The intensifying dialogue among social sciences is one of the most insightful contemporary academic advancements. Promising gains stem from interdisciplinarity, by connecting themes and concepts from a variety of fields, engaging... More

The Three Seas Initiative – Much Ado about SomethingA useful initiative hobbled by structural issues

No. 36, Jul.-Aug. 2022

In pre-war Poland, Marshal Józef Piłsudski developed a grand strategy titled Prometheanism, which meant to weaken the Russian Empire and its successor state, the Soviet Union, by encouraging national independence movements. The... More

When Art Is Becoming Digital, Should Everyone Get a Piece?

No. 36, Jul.-Aug. 2022

Alexandru Preda

Contrary to other types of commodities that went through a process of digitalization before becoming more accessible to the general public, the art world is not getting there yet. Until now, the digitalization of art seems to enhance the hyper... More

CAPITOL LETTERS (Ep. 2): “Enlightenment” and “Environment”Europe vs. Edison

No. 36, Jul.-Aug. 2022

The Smithsonian Museums in Washington, D.C. are, par excellence, propitious places for memory. Universal, and also personal. Walking through the National Museum of American History, I made the acquaintance, in sculptural form, of a... More

Romania, Last in the EU Regarding the Expected Duration of Working Life

No. 36, Jul.-Aug. 2022

Romania was placed last among the EU Member States regarding the expected duration of working life, according to data provided by Eurostat for 2021. The duration of 31.3 years was lower than in Italy (31.6 years), Greece (32.9 years), Bulgaria (33.1 years)... More

Ersatz Liberals (Part II)Economy Near Us (LV)

No. 36, Jul.-Aug. 2022

In my last communication, I have identified some issues based on which I would illustrate the weaknesses of those I called the ersatz liberals. I want to now add another issue, so I shall examine, below, five cases that are on the table of current... More

CAPITOL LETTERS (Ep. 1): Industrial RevolutionsHerald and hubris

No. 36, Jul.-Aug. 2022

Industrial Revolutions (IR) are manifestations of the delightful concept of “creative destruction” (J. Schumpeter). This means destroying the useless as a force of creation for the useful, not vice versa, that is being creative in destroying. Destruction... More

The Economic Consequences of the Russian-Ukrainian War

No. 35, May.-Jun. 2022

Silviu Cerna

The Russian invasion in Ukraine marked a new war in Europe, which started four months ago and whose end is not yet in sight. The longer the conflict lasts, the larger the threats to world peace will become. The Western world’s reaction was to apply... More

CAPITOL LETTERS (Ep. 0): New World OrdersAll is old and new indeed

No. 35, May.-Jun. 2022

When we speak of “order” where the international system is concerned (international relations, to be precise), the discussion gives the impression of value-neutrality, in the same vein as the scientific approach to a problem. However, the minute we... More

The Future of the Cultural Economy: Ideological Assumptions, Technological Breakthroughs and Ecological ConstraintsCall for articles

No. 35, May.-Jun. 2022

The “economic” and “cultural” traits of human existence are brought together by the objective fact of subjective values (that incite our sought ends) and valuations (that inform our chosen means). While “cultural economy” is that interplay of... More

Fostering Recovery through Metaverse Business ModellingThe 5th International Conference on Economics and Social Sciences (icESS), June 16-17, 2022

No. 35, May.-Jun. 2022

The past years’ uncertainties and pressures resulted from the pandemic, alongside new developments in social technology, 5G, cloud computing, augmented and virtual reality, generated the perfect setting for the Metaverse to gain traction. Several... More

Ersatz Liberals (Part I)Economy Near Us (LIV)

No. 35, May.-Jun. 2022

(Too) many of today’s politicians in Romania claim an intellectual and/or moral affiliation to different political ideologies or schools. Ignoring the fact that such a claim resonates with the voters if and only if the population reaches an average level of... More

Inflation: Old Wine in New Bottles

No. 35, May.-Jun. 2022

Inflation is rapidly rising at present across most of the world. This happens in the aftermath of a first pandemic year during in which the fears of deflation that have characterised the decade following the 2008 financial crisis resurfaced in earnest... More

How Many Healthy Life Years for Romanians in EU Context

No. 35, May.-Jun. 2022

In 2020, the number of healthy life years at birth in the EU was 64.5 years for women and 63.5 years for men. Romanians had a significantly shorter healthy life span, four years less for women and 4.2 years less for men. Nevertheless, we ranked at 17... More

Economic Sovereignty: Between Slogans and Realities

No. 35, May.-Jun. 2022

Silviu Cerna

In the speeches of some politicians and in the writings of some Romanian journalists and economists, the slogan of economic sovereignty is often present. The economic conception expressed by this phrase is obviously inspired by the xenophobic... More

The Post-Cold War Hybridization of Geopolitical Concepts

No. 35, May.-Jun. 2022

Marius-Cristian Neacșu

On November 9, 1989, humanity registered an event whose concrete, yet symbolic value continues to echo to the present day: the wall that had split not only Berlin, but Europe and the whole world as well, started to crumble… Was the Cold War... More

Europe’s Self-Inflicted Energy Disaster

No. 35, May.-Jun. 2022

The European Union has many inherent advantages and a number of good policy decisions made over the years, to promote convergence and take advantage of its size for economies of scale. However, there are a few sore spots as regards... More

The Grapes of Parnassos: Is the West Withering on the Vine?

No. 35, May.-Jun. 2022

The West – what Philip Rieff called “church civilization” – is succumbing to the false fruits of cultural revolutions which succeed in part because the passing of a single generation is all it takes to wipe the slate and in part because its custodians... More

Faux Treaty on Witch-HuntingOn the ethics of economic sanctions

No. 35, May.-Jun. 2022

“Russia has invaded Ukraine! Russia must be punished!” Thus goes the most commonly expressed sentiment these days, postulating an imperative that seems, however, by far easier said than done. “Economically, politically”, the speech then... More

The European Significance of the War in Ukraine

No. 35, May.-Jun. 2022

The all-out war unleashed by Russia against Ukraine in February 2022, after months of Sitzkrieg (a play on words between blitzkrieg – lightning war – and sitting around) on its North-Eastern borders, is obviously of primordial concern for... More

Mayday, May 9!The art of(fsets) war

No. 35, May.-Jun. 2022

Marius Tița

Europeans believe that on a day like May 9 the European Union was made. In fact, it was on the 9th of May 1950 that the idea was launched, in the form of a public declaration that was assured of its impact. It is the famous “Schuman Declaration”, not... More

Some Aspects on Complexity Economics in the Actual ContextEconomy Near Us (LIII)

No. 35, May.-Jun. 2022

Mihai-Cristian Trandafir

In Stephen Hawking’s terms, the 21st century will be regarded as “the century of complexity”, implying the ability to unify accepted definitions of complexity from mixed fields, under the auspices of an exhaustive theory which is built under the... More

Why Columbus Was Not ChineseAn argument for decentralised rule

No. 35, May.-Jun. 2022

Mihai Răzvan Nedelcu

Christopher Columbus, the world’s most famous explorer, represents a unique case study in world history and innovation. He is regarded as being a (very) controversial figure, his story being filled with mass murders and enslavement... More

The US Supreme Court – Kritarchy and Compartmentalizing Manias

No. 34, Mar.-Apr. 2022

A recent leak from the Supreme Court of the United States (a very serious breach of trust, probably with political aims) is whipping up a severe political disturbance, right before the mid-term elections, which the Party in the White House traditionally... More

Complicity and Complacency: American Liberalism’s Radical Turn

No. 34, Mar.-Apr. 2022

What will it take to bring politics back down to earth? We must stop lifting it to heaven! In this age of political religions, all ideologies are best seen as Christian heresies. Since man is made in the image of God, all imitate, covet, even worship this.... More

Romania, Second Lowest Hourly Labour Cost in EU

No. 34, Mar.-Apr. 2022

Romania had the second lowest hourly labour cost in the EU in 2021, according to data published by Eurostat. The recorded value (€8.5) was higher than in Bulgaria (€7.0), but under the levels for Latvia (€ 11.1), Croatia (€ 11.2), Lithuania... More

The Boomerang Effect of the Russia - Ukraine Conflict on the Wheat Supply Chain

No. 34, Mar.-Apr. 2022

Emmanuel Olusegun Stober

One of the most significant shockwaves to be felt outside of Ukraine since the Russian invasion is not in Europe, but in Africa. With an export of $14.75 billion, Russia stood in 8th position of total export to Africa in 2021. Even though the import... More

The Triad Nature - Nurture - Culture and the Social Justice in the Context of the Current CrisesEconomy Near Us (LII)

No. 34, Mar.-Apr. 2022

Gabriela-Mariana Ionescu

Discussions about the trinomial nature - nurture - culture back in topically in situations where our living conditions are threatened. Whenever our minimal comfort is threatened, we turn to values such as personal identity, self-respect, ethics, morality... More

The War Economy: Of Bits and BobsWith your shield or on it?!

No. 34, Mar.-Apr. 2022

There are some key assertions which are axiomatic for the pureblood moralists and demonstrable for utilitarians, such as – “war means defeat even for the victors”, “war is the health of the state”, “peace between nations is inconceivable without... More

The New Liliput’s WarlordThe Arts of Diplomacy [III]

No. 34, Mar.-Apr. 2022

Mădălina Creciun

The Munich Conference of 1938 marked a turning point in World War II. Leading European politicians in Britain and France then succumbed to the demands of the Nazi regime in Germany, while offering them resources to engage in a possible war. After... More

Semiconductors – the “Future Currency” for Development

No. 34, Mar.-Apr. 2022

Mihnea Alexandru Ciocan

“Semiconductors became as scarce as gold”. As weird this phrase it may look at first glance, it is actually a reality. And it may be a very grim reality if the demand rate will continue to be way higher than supply. These small electronic components are vital... More

The “Czar” and the Sankt…ionsCan wars be won just by a stroke of the pen?

No. 34, Mar.-Apr. 2022

Mihai Răzvan Nedelcu

Dear Friends, On February, 24, 2022, Ukraine and its people faced an act of the aggression by the Russian Federation. For mostly a month Ukraine is suffering from brutal, open and large-scale aggression and terror by the Russian Federation in our... More

Address of the Scientific Community of Taras Shevchenko National University of Kyiv to the Partners and Friends in the World Scientific Community

No. 34, Mar.-Apr. 2022

The Increase in Energy Prices Puts Romania in the Middle of EU Member States

No. 34, Mar.-Apr. 2022

Romania ranked in the 13-14th place among EU Member States regarding the increase of prices for energy in January 2022, compared to the same month of the previous year. With a level of 24.1%, our country is below the European average of 27%... More

American Foreign Policy toward Eastern Europe

No. 34, Mar.-Apr. 2022

Richard J. Bishirjian

In the election for the American President in 2024, foreign policy and national security in America will become a political football in the wake of President Biden’s bungling of American policy toward Russia. Much of this is self-inflicted due to the Democrat... More

We Still Have Paris!The Arts of Diplomacy [II]

No. 34, Mar.-Apr. 2022

Roxana-Ionela Cristea

The Germans occupied Paris on June 14th, 1940 without a fight. The event came one month after the Germans entered France and just a few months after the war started. Everyone expected France to intervene against Hitler’s attack on Poland on... More

The Highest Proportion of Young People Who Were Severely Materially and Socially Deprived, Recorded in Romania

No. 34, Mar.-Apr. 2022

Among the EU Member States in 2020, the highest proportion of young people who were severely materially and socially deprived in 2020 was recorded in Romania (24%), followed by Bulgaria (21%) and Greece (16%). On the other hand, the... More

A Possible Relationship Between the Inclusive Nature of the Modern Labour Market and Technological ProgressEconomy Near Us (LI)

No. 34, Mar.-Apr. 2022

Monica-Florica Dutcaș

The article aims to bring to the attention or debate a possible relationship between the inclusive nature of the modern labour market and technological progress. From this relationship, labour market policy options arise that would favour inclusion... More

The Coronavirus Epidemic in Romania: A Government Failure All-Along (II)

No. 34, Mar.-Apr. 2022

When vaccination began simultaneously in all 27 EU states, in late December 2020, Romania reported for a short while some of the highest figures in the bloc, but it quickly became the second least vaccinated member country. It is now customary to... More

A Far-Reaching BookThe Sustainable Development Theory: A Critical Approach: Vol. 1. The Discourse of the Founders; Vol. 2. When Certainties Become Doubts, Palgrave, London, 2020; 2021. Authors: Ion Pohoață, Delia Elena Diaconașu, Vladimir Crupenschi

No. 33, Jan.-Feb. 2022

Erudition and research stand to gain from the publishing of this outstanding two-volume study. Sailing against the winds, three scholars from Iași set out to write not just a mere scientific paper – to keep up with the times – but a book. And it turned... More

The Coronavirus Epidemic in Romania: A Government Failure All-Along (I)

No. 33, Jan.-Feb. 2022

More than two years after the start of the coronavirus epidemic, the real magnitude of the disaster it has wrought in Romania is plain for everyone to see. Although it entered into lockdown as one of the least affected countries, at least according to... More

Canvassing the Freedom of a NationThe Arts of Diplomacy [I]

No. 33, Jan.-Feb. 2022

Ioana Ioniță

Among the four paintings created by John Trumbull that adorn the walls of the Capitol Rotunda to commemorate the greatest events of the American Revolution, one in particular makes reference to a salient part of the history of the United... More

Did the Pandemic Reverse Pasokification?Are the left-wing parties in Europe ready for a comeback?

No. 33, Jan.-Feb. 2022

Mihai Răzvan Nedelcu

Most of us probably do not remember the Greek political former hegemon PASOK. Instead, some of us may be inclined to skip over the letter “S” and think of another kind of Greek hegemon, the football team PAOK. However, PASOK (Panhellenic... More

Some Aspects of Today’s Economic GrowthEconomy Near Us (L)

No. 33, Jan.-Feb. 2022

Gabriela-Mariana Ionescu

We include in the conceptual framework of economic growth, in a broader sense, the individual, the society, the institutional performance, the investment, geopolitical situation, but also issues of natural resource management and the current... More

Pieces of a Puzzling 2050As seen from the present of 2022

No. 33, Jan.-Feb. 2022

Imagining the future is frequently a delightful pastime, as evidenced by the numerous science-fiction works that have been published over the last century. The various authors pondered how humanity and the role of human beings (both... More

The Russia-Ukraine Crisis: A Deceptive Geopolitical Jigsaw

No. 33, Jan.-Feb. 2022

Narciz Bălășoiu

Seven years after the Crimean annexation and the events in Eastern Ukraine, there has been talk again of a possible Russian attack on the Ukrainian state, scheduled for early 2022. One should remember that these speculations were not... More

The Rise of the Administrative State

No. 33, Jan.-Feb. 2022

Georgiana Constantin-Parke

Before the Great Depression, President Calvin Coolidge restated an earlier vision of America which had been memorialized at Independence Day celebrations for 150 years. In his sesquicentennial address entitled “The Inspiration of the... More

Pirouettes and Profits: Pointe Shoes UpdatedMIND(s that filled) THE GAP(s) [XVII]

No. 33, Jan.-Feb. 2022

Gabriela-Aura Durleci

Have you ever wondered how ballerinas make executing such delicate movements look so effortless? From the 19th century, when Maria Taglioni was the first ballerina to ever perform a full-length ballet on pointes, this specific footwear was never... More

Of Sand and Time – Life, Dignity and Age in a World of the Self

No. 33, Jan.-Feb. 2022

For the first 18 years of life, people are dependent on others. Their productive years are perhaps from 18 to 60, or more, if they are lucky. Then, they become reliant on others again. After having gotten used to independence, they revert to a childlike... More

On Normative ViolenceEconomy Near Us (XLIX)

No. 33, Jan.-Feb. 2022

Octavian-Dragomir Jora Alexandru Georgescu

The social contract (no matter its type: contractarian – John Rawls, of capability – Martha Nussbaum, or of resilience – Robert Nozick) was born precisely to eliminate or avoid the private violence or, at least, to guarantee protection against it, with the state as... More

The Year 2050, the Imaginary and the UnimaginableWe do not know what tomorrow will bring, but we are getting ready for the day after

No. 33, Jan.-Feb. 2022

Both “imaginariums” and “histories”, while differing on essential ingredients, visions and vestiges respectively, share an essential imperfection – incomplete information and/or bounded rationality. We compose mosaics (using also our... More

Bridging News

CAPITOL LETTERS (Ep. 12): The Truth per Thaler Spent (or the Return on Insightfulness) The Economics of Science

That Economics is a science is a statement against which it is difficult to argue. Be that as it may, enquiring “what kind of science it is” (exact or social science) should be taken as a pertinent question in its own right. Economists, both those that have already made a name for themselves and those that are still learning the ropes needed to master the theoretical or applied approaches, are the ones expected to have addressed, in foro interno, such dilemmas. Notably, the profession is far from reaching a consensus among its members in such regard. However, investigating what sets economics apart that it finds itself in the position to judge the other sciences, actually, Science, is a track of inquiry that is rarely taken, let alone trod, yet one that could prove surprising if we consider all that it may reveal. The type of judgement we are alluding to refers to one’s capacity of logical reasoning, not that of bringing to a court of justice, i.e., of identifying culprits and casualties. Economic analysis is a way of judging/reasoning about things. More

Bridging News

What Cost Disinflation?