Mihail Manoilescu - Economic Thought and Economic Reality
Mihail Manoilescu - Economic Thought and Economic Reality

Summary/Abstract: Endowed with an Anglo-Saxon analytic spirit, German logical rigor, and Latin imagination, Mihail Manoilescu was one of the most distinguished Romanian thinkers of the 20th century. He was not a "narrow-minded" economist, but rather enjoyed the great advantage of reaching out way beyond the sphere of his competencies. Manoilescu's economic theories are infused with political and social ideas, at times featuring a "prophetic" classical allure. In a sense, Manoilescu is the forerunner of postwar theories on global trade and one of the few Romanian economists known and acknowledged by prestigious schools of economic thought in the world. He noted the "market distortions" and offered solutions that, even if they were not fully accepted, did foster new research to find ways and means to address potential market anomalies. His well-known works - about the theory of protectionism and about the corporatist theory - had a resounding echo in his time, enjoyed close attention in Latin America. One of his book, "Teoria protecţionismului şi a schimburilor internaţionale" (The Theory of Protectionism and of International Exchanges) had a significant impact on the Customs Law of 1931 in Brazil and on the whole industrialization process of South America.

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