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    Picketty-Saez v. Lakner-Milanovic: Visions on Income Inequality

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

    No. 29, May.-Jun. 2021

    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 Crisis

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

    No. 29, May.-Jun. 2021

    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 West

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

    No. 29, May.-Jun. 2021

    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

    Five “Good” Reasons to Hate Economics

    No. 29, May.-Jun. 2021

    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 Numbers

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

    No. 29, May.-Jun. 2021

    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

    IP, Fire, and Other Dangerous Things

    No. 29, May.-Jun. 2021

    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 Poland

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

    No. 29, May.-Jun. 2021

    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 Wage

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

    No. 28, Mar.-Apr. 2021

    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

    Seven Things the Suez Canal Incident Taught Us about Globalization

    No. 28, Mar.-Apr. 2021

    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 Continues

    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

    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

    Public Schools, a Rival for Racism and Xenophobia

    No. 28, Mar.-Apr. 2021

    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 Policies

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

    No. 28, Mar.-Apr. 2021

    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 Romania

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

    No. 28, Mar.-Apr. 2021

    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 Market

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

    No. 28, Mar.-Apr. 2021

    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 Football

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

    No. 28, Mar.-Apr. 2021

    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

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

    No. 28, Mar.-Apr. 2021

    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

    The Intersection of Religion and Economic Behaviour

    No. 28, Mar.-Apr. 2021

    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 Economy

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

    No. 28, Mar.-Apr. 2021

    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

    Binding Leviathan: The Case for Institutional Liberty

    No. 28, Mar.-Apr. 2021

    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 Paradigm

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

    No. 27, Jan.-Feb. 2021

    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, Peace

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

    No. 27, Jan.-Feb. 2021

    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

    Beneath It All in Hungary Is Political Corruption

    No. 27, Jan.-Feb. 2021

    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 India

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

    No. 27, Jan.-Feb. 2021

    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%

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

    No. 27, Jan.-Feb. 2021

    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 Fighter

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

    No. 27, Jan.-Feb. 2021

    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 Predictors

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

    No. 27, Jan.-Feb. 2021

    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

    When the Appetite for Entertainment Scores Goals

    No. 27, Jan.-Feb. 2021

    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

    The Pandemic Recession and Government Stimulus

    No. 27, Jan.-Feb. 2021

    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

    Romanian National Culture Day and the New Normal

    No. 27, Jan.-Feb. 2021

    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

    The Effect of Brexit on Romanian Foreign Trade

    No. 27, Jan.-Feb. 2021

    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?

    Will Lithuania Reclaim Its Own Business Tax Model?

    No. 27, Jan.-Feb. 2021

    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:

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

    No. 27, Jan.-Feb. 2021

    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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    The Romanian-American Foundation for the Promotion of Education and Culture (RAFPEC)
    THE NETWORK
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    Amfiteatru Economic

    OEconomica No. 1, 2016
    IN THE AGORA
    Agora
    “Pierre Werner Centenary” medal “Pierre Werner Centenary” medal

    The National Institute for Economic Research “Costin C. Kirițescu” of the Romanian Academy bestowed the “Pierre Werner Centenary” medal to the Rector of the Bucharest University of Economic Studies, Professor Nicolae Istudor, Ph.D., in recognition of his contributions to higher education and academic research and of his sustained efforts to promote the national culture and its values in the Wernerian sense of harmony and compatibility with the wider European civilization and its aspirations.

    The ceremony was occasioned by the 4th edition of the International Conference ESPERA 2016 on “Economic Scientific Research – Theoretical, Empirical and Practical Approaches”, which took place in Bucharest on December 15-16, 2016. Professor Nicolae Istudor’s keynote speech may be viewed here.

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    Geopolitics and the New Silk Road Geopolitics and the New Silk Road

    Professor Silviu Neguț, Ph.D., delivered a speech on the geopolitics of the New Silk Road and its Eurasian philosophical backdrop during a conference organized by the Black Sea University Foundation on the subject of “Oil and the New Silk Road”. The event took place on December 13, 2016, and brought together a host of noted Romanian specialists from academia, government and private sector. Among them were Vasile Iuga, Senior advisor at PwC Romania, Radu Dudău, the Energy Policy Group, and Liviu Mureșan, the EURISC Foundation. The discussions were moderated by Professor Dan Dungaciu, Ph.D., President of the Black Sea University Foundation and head of the Institute for World Economy, the Romanian Academy (details here).

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    NATO foreign ministers’ meeting NATO foreign ministers’ meeting

    Alexandru Georgescu was a participant, alongside Răzvan Munteanu, Iulian Popescu and Andrei Vlăsceanu, on the ZIUA Z (D Day) TV Show hosted by Col. (ret.) dr. Ion Petrescu on the subject of the latest meeting of NATO Foreign Ministers. The TV Show aired live on December 8, 2016, on 6TV and can be viewed online here.

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    Romania’s EU Council Presidency Romania’s EU Council Presidency

    On November 28, 2016, dr. Octavian-Dragomir Jora declared for Agerpres: “Looking forward to Romania’s Presidency of the EU Council in the first semester of 2019, our country has to employ wisdom and intelligence in mating two essential strains of modern governance by utilizing an appropriate political decision-making structure and an open and competent popular consultation. The first is going to be the often invoked ‘country project’. It does not have to represent a simple piece of ‘literature’, filled with the intellectual infatuation of the contributors and the documents’ custodians, but a two-directional educational exercise (between the decision-making and reflecting elites, on the one hand, and the public, on the other hand) and a sincere discovery of ‘national interest’. In my opinion, this is the best known ‘unknown’ of the domestic public discourse. It is a fixture in the national psyche post-accession, while remaining tantalizingly out of reach of both the public and the authorities and their advisors. The second one is this administrative exercise, which demands institutional maturity: the Presidency of EU Council. Addressed responsibly and rigorously, the course of managing the EU agenda represents a unique moment of opportunity and challenge which can have the benefit of improving Romania’s image as an exotic and erratic presence in the European picture”. (www.agerpres.ro)

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    European challenges for Romania European challenges for Romania

    Europarliamentarian Laurențiu Rebega and the Foundation for the Europe of Nations and Freedom organized on the 26th of November, in Târgu Mureș, the Conference “The European Union and Economic Challenges for Romania”. The event took place in proximity to the impending anniversary of Romania’s accession to the EU, nearly ten years ago. The presentations discussed the pros and cons of accession and highlighted the risks, vulnerabilities and threats that our country will have to manage. Professor Dumitru Miron, Ph.D., and Associate Professor Octavian-Dragomir Jora, Ph.D., from the Faculty of International Business and Economics, the Bucharest University of Economic Studies, Professor Nicolae Băciuț, writer and publicist, and Cora Maria Muntean, President of the National Association of Romanian Merchants (ANCR), were among the speakers (details here).

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    CEECs and the geopolitical winter CEECs and the geopolitical winter

    Alexandru Georgescu was a participant, alongside Răzvan Munteanu and Iulian Popescu, on the Valori Euroatlantice (Euroatlantic Values) TV Show hosted by Col. (ret.) dr. Ion Petrescu on the subject of the Geopolitical Winter in Eastern Europe. The TV Show aired on November 20, 2016, on 6TV and can be viewed online here. Key quotes and comments can be found here.

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    Science and the metrics of visibility Science and the metrics of visibility

    Octavian-Dragomir Jora delivered a speech at Târgul de Carte Gaudeamus (the Gaudeamus Book Fair), on November 16, 2016, during the launch of an important book, “A concepe, a redacta și a publica un articol științific. O abordare în contextul cercetării economice” (“Conceiving, Writing and Publishing a Scientific Article. An Approach in the Context of Economic Research”), written by Vasile Dinu, Gheorghe Săvoiu and Dan-Cristian Dabija. Octavian-Dragomir Jora argues that the neglect of scientific dissemination in national journals is a result of a structure of perverse incentives for researchers, for whom a series of “minimalistic” criteria have been set with an exclusively external orientation and without an attempt to establish a reasonable set of coefficients for truthful comparison between internal and external publications. This leads to distortions of the Romanian landscape for reviewing, validating and disseminating scientific ideas, hindering their gradual entry into the worldwide scientific marketplace and maintaining an unproductive separation between national and global spaces (details here).

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    Riga 2016, China-CEECs meetings Riga 2016, China-CEECs meetings

    As a member of the EURISC Foundation, Alexandru Georgescu was the only Romanian attending the International Think Tank Forum of China and Central and Eastern European Countries held in Riga, Latvia, on November 4, 2016, in parallel with a series of other events related to 16+1 cooperation, including the Summit of the Heads of Government of 16+1, the launch of the Logistics and Transport Center for 16+1 in Riga, a business forum and a conference of sinologists. A short article in Romanian describing the event can be accessed here. A publication titled “Afterthoughts of the Riga 2016 China and Central and Eastern European Countries Think Tank Forum” can be accessed here, featuring also a contribution from Alexandru Georgescu.

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    16+1 and Belt and Road initiatives 16+1 and Belt and Road initiatives

    As a member of the EURISC Foundation, Alexandru Georgescu accompanied EURISC Foundation President dr. Liviu Mureșan to the International Conference on Synergies between 16+1 and the Belt and Road Initiative, organized by the Shanghai Institutes for International Studies (SIIS) on September 25-26, 2016, in Shanghai. A short article in Romanian describing the event can be accessed here.

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    EU, liberal or illiberal momentum EU, liberal or illiberal momentum

    The Center for Institutional Analysis and Development – Eleutheria (CADI), The Friedrich Naumann Foundation (FN), The Institute for Economic Studies – Europe (IES – Europe) and The Society for Individual Freedom (SoLib) organized The September School of Economics, Politics and Philosophy, September 20-25, 2016, at the Hotel Apollo Hermannstadt in Sibiu, Romania. This year’s theme was “Europe at the Crossroads: Illiberal Challenges, Liberal Alternatives”. On this occasion, Octavian-Dragomir Jora delivered a speech entitled “Brave New Europe: Technology, Democracy, Technocracy, Demagoguery” (details here).

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