Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/198458 
Year of Publication: 
2016
Citation: 
[Journal:] CES Working Papers [ISSN:] 2067-7693 [Volume:] 8 [Issue:] 2 [Publisher:] Alexandru Ioan Cuza University of Iasi, Centre for European Studies [Place:] Iasi [Year:] 2016 [Pages:] 221-237
Publisher: 
Alexandru Ioan Cuza University of Iasi, Centre for European Studies, Iasi
Abstract: 
Human societies are evolving in sequences similar to a business cycle. The cause for which the evolution is accompanied by setbacks lies in the complexity of social systems, which, ab initio, cannot be designed or intended by any human mind, and the irrationality arising from limited rationality of economic actors. Therefore, the time shows similarities, but rarely identities. Rather, we can talk about chronological series of similitudes, of repeatable errors and adjustable patterns. Using qualitative research and the introspective analysis, we explore the pattern which the Romanian economy followed under the sign of global crisis. We found that Romania's economy doesn't have a problem with its path but with the way in which it follows the trend ideologically and historically. Also, we found out that the end of the crisis is not just following an ordinary path, but represents the chance for the economy to be re-equipped with weapons of competitiveness and honour in order to leave the current era of nihilism.
Subjects: 
crisis
path dependency
contagion
rationality
procyclicality
JEL: 
E58
G01
H12
Creative Commons License: 
cc-by Logo
Document Type: 
Article

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