The Market Economy in Transition and the Accuracy of the Economic Results: Is the Economic Growth of Romania in the Last Years a Real One?
Economia Aziendale Online, No. 1/2008 Special Issue, January 2008
10 Pages Posted: 28 Feb 2008
The way the results of the human activity are measured has been and still is a major theoretical and practical concern of the economic world. In this article we are particularly interested in analyzing the circumstances that provide a real image for the economic results at macroeconomic level. We keep as our main interest the technology of value making process in market economy and the relationship between real and nominal economy in this process. We apply the theoretical aspects on Romania in order to analyze the way macroeconomic indicators are reflected in the population living standards.
The way the results of the human activity are measured has been and still is a major theoretical and practical concern of the economic world. Reasons of statistic evidence or comparative analysis, or simply the human curiosity to find out how the human effort is rated in certain fields or historic periods fully explain such concerns.
We know today, retrospectively judging things, the methodology that has been at the foundation of the rating of created values has defined the aspect and philosophy of two great schools: the classic and neo-classic school. They have essentially marked the evolution of economic thought. The first school has operated with the absolute value criterion; the second one, with the relative value criterion. Having in common the fact that both schools agree that work is the main source of value, interference areas disappear when it comes to the issue of the technology of value.
Keywords: economic growth, transition, employment, technology
JEL Classification: D40, D52, D63, F15, F43, I31, O11, P11, P16, P26
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