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Theoretical and Applied Economics
No. 7 / 2014 (596)

The economic crisis and the great problems of mankind

Cătălin-Emilian HUIDUMAC-PETRESCU
Bucharest University of Economic Studies, Romania
Alexandru Cătălin POPA
Bucharest University of Economic Studies, Romania

Abstract. The economic crisis that humanity is currently facing proves to be the most severe one since the Great Depression of the 1930s. Poor financial system, unsustainable public debt and competitiveness inequalities in the world have greatly contributed to the crisis. Naturally, economic policy makers are concerned about problems related to the restoration of fiscal, trade and monetary balances and are trying to boost investment, employment and consumption. Solving these problems is difficult, but insufficient for the future of global economy. This paper attempts to draw attention to problems with long-term impact which, if they are neglected, could cause future crises of even greater intensity than the present one. Among these issues are increased poverty, lack of environmental protection and demographic imbalances.

Keywords: macroeconomics, financial markets, global warming, poverty, population ageing.

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The Economicity. The Epistemic Landscape, Marin Dinu, 2016

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