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Financial, economic and moral crisis – vector of durable development


  • Dobrescu, Emilian

    () (Universitatea Spiru Haret, Facultatea de Finante si Banci)

  • Stefanescu, Roxana

    () (Universitatea Spiru Haret, Facultatea de Finante si Banci)


The financial, monetary and banking crisis of 2008 started as a matter of crediting subpremiums in the United States only on the 2nd Quarter of the year and extended quickly in the 3rd Quarter in Western European and then in th e4th Quarter in the Center and Eastern Europe and even far away in Asia. The main ways of appearance are: lack of liquidity on the financial and banking market, as well as the important drop of the stocks values on the stock exchange market. There were a few resounding bankruptcies in the USA, two-three more important in the EU (showed below) that determined the Europeans to be more united as ever and to avoid thus such phenomena on the territory of the EU. The real cause of the crises repetition is in reality the defective individual and social EDUCATION. Hence, it is mandatory to change the way the citizens are educated during their entire life. Paper:

Suggested Citation

  • Dobrescu, Emilian & Stefanescu, Roxana, 2009. "Financial, economic and moral crisis – vector of durable development," Papers 2009/110, Osterreichish-Rumanischer Akademischer Verein.
  • Handle: RePEc:ris:sphedp:2009_110

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    More about this item


    economic crisis; financial crisis; moral crisis; education; durable development;

    JEL classification:

    • A11 - General Economics and Teaching - - General Economics - - - Role of Economics; Role of Economists
    • B11 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Preclassical (Ancient, Medieval, Mercantilist, Physiocratic)
    • I21 - Health, Education, and Welfare - - Education - - - Analysis of Education
    • O10 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - General


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