Transformation has been put in motion by a variety of both endogenous and exogenous forces. Although not any process was under the control of those countries, their choice of goals and instruments was anyway particularly great, at least theoretically. However, transformation was implemented as a...

Rapid fall of communism was a surprise to Romanian economists. They lacked any theoretical guide to explain such a historic event and allow them to analyze economic and social processes that followed. Neither political economy of socialism, neither Keynesian nor neoclassical theory have allowed...

The objectives of this paper could be brought to three. First, a methodological one, to explain how economic knowledge disseminates and what its channels are, as well as the basic transmission mechanisms of economic theory in Bulgaria after the disintegration of the socialist bloc. Second, a...

Innovation is at the basis of economic development and as such, it is instrumental for developing countries. We review the literature on innovation from the perspectives of four select branches of economics to build a conceptual framework of innovation applicable to developing countries. The...

Italian abstract: In questo saggio intendo rileggere, disarticolare e problematizzare il dibattito Einaudi-Croce sul rapporto tra liberismo e liberalismo muovendo da una prospettiva epistemologica lato sensu costruttivista, volta a mostrare l’insufficienza esplicativa della dicotomia...

One of the main disadvantages of currency boards is the rule-based character of this system and the resulting inflexibility in case of shocks, a frequently recurring event in transition countries. Accordingly, central banks under currency board arrangements (CBA) are unable to respond to...

The objective of joining the euro area has become an important priority in the policy agenda of the current government. The paper focuses on the major structural reforms necessary to prepare for euro adoption that should allow a sustainable fulfilment of the Maastricht criteria and maximisation...

The article is divided into two parts. The first describes Hayek's critique of the progressive tax system since its conception of social order and fiscal rationality. Hayek thinks about a key principle in liberal democracies: majority rule. And stretching comments to the influence of morality in...

This paper explores the rise of money and class society in ancient Greece, drawing historical and theoretical parallels to the case of ancient Egypt. In doing so, the paper examines the historical applicability of the chartalist and metallist theories of money. It will be shown that the origins...