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“Economics is not an exact science. It’s a combination of art and elements of science”, said Paul Samuelson, the first American to win the Nobel Prize in Economic Sciences. Central banks seem to have forgotten this lesson in recent decades….
Read moreThe ESG acronym has become increasingly pervasive in corporate communication. “E” is the first letter of the word “environment”, suggesting the importance of environmental protection in conducting economic activities. “S” is the first letter of the word “social” and stresses…
Read moreIn my comment called “The war of the century which will define our future”, made at the end of 2016, I pointed out that globalization damaged the win-win balance between two essential factors of production: Labor and Capital. Basically, I…
Read moreI recently attended a conference on regional security issues with remarkable international participation. Evidently, the paramount topic in all presentations and debates was the war in Ukraine: what could have prevented it, how it is unfolding, what will be the…
Read moreThe yield curve plots the returns on government bonds by maturity, starting from the shortest and going up to the longest ones. The chart is closely watched as it can provide interesting indicators about the investors’ perception of future economic…
Read moreThe economic and military armament of the big illiberal powers – Russia and China, in particular – was achieved with capital originating in liberal countries. The capital’s unscrupulous pursuit of globalization opportunities after the fall of communism thinned the middle…
Read moreOver the last 6 months, we have heard countless comments about the delicate situation faced by Central Banks, forced to make a rather impossible choice: either to take on inflation, or try bypass recession. This is indeed an impossible choice…
Read moreIn recent weeks, we have witnessed a large number of debates, unfortunately including people who can not be suspected of malice or deception, which referred to the cowardice of Romania and those who lead it. The labeling was a consequence…
Read moreThe greatest military victories in history would not have been achieved without the leaders of those times. People of sound mind do not willingly sign their death warrant; instead, they protect their lives and avoid evil. So what drove them…
Read moreRussia’s current reaction is justified by NATO’s aggressive expansion eastward. This is the theory that sparks heated debates, both among experts and the general public. Although I think it should be abundantly clear to everyone that no explanation, however elaborate,…
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