PERSPECTIVES OF THE 1940’S ROMANIAN ECONOMY IN VIRGIL MADGEARU'S VISION - LESSONS FOR TODAY
PERSPECTIVES OF THE 1940’S ROMANIAN ECONOMY IN VIRGIL MADGEARU'S VISION - LESSONS FOR TODAY

Summary/Abstract: Concerned with the course of the world, but especially with the economic, political and social course of Romania, together with other leading Romanian economists of the early twentieth century, such as Dimitrie Gusti, Vasile Pârvan and Victor Slăvescu, Virgil Madgearu realized, with extreme fine attention, a diagnosis of the Romanian economy. A graduate of the University of Leipzig, and later a professor and policy maker, Madgearu reassembles ideas and approaches according to the Romanian needs of the time, promoting modern principles regarding credit, cooperatives, exchange rates, banks, foreign trade, agriculture, industry, financial markets, but also the functioning of monetary and fiscal-budgetary policies. At least some of these ideas are found in a crystallized form in the mature works of the author, being extremely current today. Thus, the article aims to describe and analyze elements of the perspectives of the Romanian economy as seen by Virgil Madgearu in 1940. Although the historical perspective can be considered obsolete, we can easily see from the analysis, the striking degree of similarities with the current period and a number of lessons from that time that can be learned even today.

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