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The “Bulgarian Paradox" – Economic Growth Which Gives Rise to No Optimism

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  • Stoyadin Savov

Abstract

This paper challenges the formulation of the paradox "there is growth, but it gives rise to no optimism". The thesis that economic growth stirs up no optimism, because it does not lead to raising the level and quality of life of low-income groups of the population is defended. Its macroeconomic indicators are interpreted not only from the standpoint of the average Bulgarian, but also in terms of the income distribution in decile groups. In an attempt to answer that question, there have been formulated 6 hypotheses, the fifth of which is "the dynamics of social inequality and the loss of social status during the years of transition". It is the most reliable, but is poorly justified and has been ignored in the discussions. This article gives some of the viewpoints on those issues.

Suggested Citation

  • Stoyadin Savov, 2004. "The “Bulgarian Paradox" – Economic Growth Which Gives Rise to No Optimism," Economic Thought journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 7, pages 96-117.
  • Handle: RePEc:bas:econth:y:2004:i:7:p:96-117
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    JEL classification:

    • D33 - Microeconomics - - Distribution - - - Factor Income Distribution
    • A14 - General Economics and Teaching - - General Economics - - - Sociology of Economics

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