Gabriela-Mariana Ionescu
Gabriela-Mariana Ionescu
Economist, Ph.D. in management and Ph.D. student in economics at the Romanian Academy Doctoral School – SCOSAAR
On the Minimal Wage, with Responsibility

On the Minimal Wage, with Responsibility

The syntagm “minimal wage” used instead the syntagm “minimum wage” is intentioned and requires a little bit of explanation. “Minimum wage” is used in the labour legislation, and signifies the lowest level of the administratively established nominal gross monthly wage in the economy, warranted in paying. In fact, what the law establishes is not the minimum level, but the minimal one. What is that meaning? The minimum wage is the actual wage in the real economy, and thus a wage level generated by the labour market. As a consequence, the minimum wage can vary from time to time and also, of course, it can vary related to the administratively established “minimum wage”, but never below the last. As the administratively established wage must be fixed (at least until the next normative changing), it seems be clear now why this wage must be called minimal but not minimum wage. More

No. 7-8, Sep.-Dec. 2017 2017


The Reference Social Indicator – Between Necessity and Moral Obligation

The Reference Social Indicator – Between Necessity and Moral Obligation

The Reference Social Indicator (RSI) comes to our attention after a ten-year period in which its value has not changed. The lack of political stability and, sometimes, the irresponsibility of governing parties creates the risk of deviating the value of RSI, established by political decision, from the economic, social and moral significance with which this indicator is invested.Considering the consequences generated by the possible arbitrary situation in setting the RSI value, it is necessary in the near future to identify a methodological anchor for the dynamic adjustment of the RSI value, avoiding the incidence of the political factor in this matter. It is therefore necessary to identify a relevant macroeconomic indicator for anchoring the Reference Social Indicator (RSI), so that its variation can be done automatically (via the automatic stabilization mechanism) without the conjunctural intervention of the political factor. More

No. 7-8, Sep.-Dec. 2017 2017


State Role vs. State Size

State Role vs. State Size

In modern society, the state remains the central element of political power and an essential factor in the sustainable development of a country. Together with its institutions, the state responds to emerging changes in society by multiplying its functions to ensure economic growth and to address a large part of the social needs it feels the need to manage. More

No. 7-8, Sep.-Dec. 2017 2017


Nudges – The Paradigm of the Oriented Free Choice

Nudges – The Paradigm of the Oriented Free Choice

Referring to the extremes of economic behavior we can say that they are: a) the imperative norm and b) the absolute autonomy (we refer here to the individual freedom, which does not take into account the free choice of others). Focusing on the concept of freedom, it represents, according to Jonge (in his book “Rethinking Rational Choice Theory”), the autonomy of desires and not freedom of action. In Rawls’ opinion, freedom is first in the hierarchy of interests, higher interests becoming normative.  More

No. 7-8, Sep.-Dec. 2017 2017


On the Self-Testability of the Minimum Wage

On the Self-Testability of the Minimum Wage

As I have shown, in a previous intervention, in which I explained the conceptual difference between the minimum salary (the actual minimum wage, with the particularity that is generated by the market, rigorously called “minimum nominal salary”) and the minimal wage (administrative wage, with the particularity that it is administratively established, rigorously called “minimal nominal salary”) in the present intervention I will argue about the self-testability of the minimal wage. I have also shown, in the same intervention, that the establishment of the minimal wage without using a method by which it is methodologically anchored by a macroeconomic indicator, relevant for ensuring sustainable economic growth, entails the possibility of it functioning as an instrument of social protection only.  More

No. 7-8, Sep.-Dec. 2017 2017


PRINT EDITION

SUBSCRIPTION

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

OEconomica No. 1, 2016