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The Need of a New Economic Model

Author

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  • Alexandru Cătălin POPA

    (Bucharest Academy of Economic Studies)

Abstract

The current global economic crisis has proven to be unpredictable for most decision-makers worldwide. Moreover, beliefs deeply embedded in the minds of economists about economics, about the virtues of capitalism and free market began to falter. Sooner or later the current crisis will end. The problem that arises and to which the economic science must answer is whether anything should be changed in the current world economic order and especially what exactly. It is quite vital to ask ourselves today in what kind of society we want to live and whether the current economic model, a model mainly based on monetarist ideas, is helping us to achieve those wishes. In addition to analyzing the root causes that led to the current economic crisis, this article aims to analyze whether the current economic model must change and to outline the features of a possible new model.

Suggested Citation

  • Alexandru Cătălin POPA, 2012. "The Need of a New Economic Model," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania - AGER, vol. 0(2(567)), pages 97-196, February.
  • Handle: RePEc:agr:journl:v:2(567):y:2012:i:2(567):p:97-196
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