Causes of Global and National Economic Crisis

Mircea Udrescu
Additional contact information
Mircea Udrescu: “Artifex” University Bucharest

Romanian Statistical Review Supplement, 2012, vol. 60, issue 2, 147-153

Abstract: The economic crisis is expected to bring a slow down, stagnation or decrease of the economic activity. The socio-economic crisis in Romania started in 1990 and it continues at present, being emphasized by the financial and economic crisis on the international market. From now on, the crisis exit door for Romania is possible only by operating the morals to all the domains, by unlocking the functional procedures of the financial- economic processes and by showing a performant management at all levels. The economic-political crisis in Romanian is a label crisis with no responsibilities, only with consequences. After 1989, society could no longer advance because Communists and Securitate people were still present and controlled structures and decision-taking systems through their connections and therefore turned the state into a dummy and they turned into a dummy even the president, elected and self-proclaimed a symbol of anti-Communist fighting. In Romania, the state started to be called the worst manager. Blamed and pointed at by everybody, the state initiated quick economic privatization and land retrocession and assets sales. Instead of increasing the responsibility of the management to ensure economic efficacy and efficiency of the all joint assets through mixed forms of ownership, the state initiated accelerated and reckless privatization. Instead of assuming social, political, economic and legal responsibility for the management of the national assets, our original liberalism caused generalized corruption and unjustifiably made rich a political minority well connected to the relevant people, and made poor the most of the population. After twenty years of reform, the national economy looks like a sick person that has undergone twenty years of therapy and is now dying. Doctors and relatives can see the patient is much worse than twenty years ago and instead of accusing the medical staff that prescribed the treatment, simply say: „It is God’s will”. Since the ordinary man cannot fight the Divine will, he continues living in this everybody’s vanity fair.

Keywords: economic crisis; financial crisis; moral crisis; efficient management; liberty; responsibility; performance (search for similar items in EconPapers)
Date: 2012
References: View complete reference list from CitEc
Citations:

Downloads: (external link)
http://www.revistadestatistica.ro/suplimente/2012/2/srrs2_2012a21.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:rsr:supplm:v:60:y:2012:i:2:p:147-153

Access Statistics for this article

More articles in Romanian Statistical Review Supplement from Romanian Statistical Review Contact information at EDIRC.
Bibliographic data for series maintained by Adrian Visoiu ().