Economic theory

Author: Walter Kirn About five years ago, I bought an old juicer for seven dollars at a thrift store. It was one of those little, old-fashioned kitchen gadgets that looked like they were made to withstand a blast or a hammer blow. As soon as I turned the motor on with the metal knob, the drive shaft spun a heavy ceramic head made of …

Author: Ivan Kalchev SOIL AS AN ECONOMY If we open a classic textbook on soil science, on the first page we will read that "soil is the surface layer of the earth's crust, in which plants develop and which has the property of fertility". In an equally boring textbook we can read about economics (in the sense of "economy", and ...

One currency rules them, it alone will discover them, it alone will gather them all and wrap them in control in the city of Frankfurt, where the Brussels darkness looms. The debate on globalization shifts its focus from the traditional plane of left and right and reorganizes itself under a new dimension, namely national versus …

One of the important questions about the social order is whether ideas determine the actions of the authorities or do the representatives of the authorities order the ideas they need? The question, posed in this way, is so general that any answer can be both right and wrong. There are enough world authorities who take opposing positions, …

I met Vlado ten years ago in the bar on the corner of Rakovska and Vasil Levski. He came on a motorbike and quickly asked me about pressing economic and political issues – I was in a sort of interview. Karolev was running for mayor and was looking for a campaign assistant, I was recommended to him as his …

Amidst the enthusiasm for the investigation into the irregularities of the previous administration, the caretaker government of Stefan Yanev has approved a plan for Bulgaria to join the eurozone. This is a puzzling move, because this plan is largely inherited from the previous government, whose abuses in other areas the current caretaker cabinet appointed by …

The following material is a translation of an article published on August 1, 1981 with the original title "What Causes Wealth?" by Roger Ream. The subtitles and formatting are by the translator. The original article can be found on the FEE website. The current translation is published under the Creative Commons Attribution 4.0 license …

Author: Stefan Boyadzhiev “Variety is life, uniformity is death.” Benjamin Constant is one of the most notable and colorful representatives of the generation of classical liberals between Montesquieu and Tocqueville. Unfortunately, to a large extent, he shares the fate of another great French thinker, Frederic Bastiat, and remains poorly recognized by future generations, which …

Recently, the prophecies that capitalism is going away have become more and more frequent. One of the most profound researchers of capitalism is Adam Smith. Therefore, it is worth checking to what extent his ideas are accepted and/or rejected by Bulgarians. This is how we will assess whether he, and with him capitalism, are going away from Bulgaria? Adam Smith (1723-1790) is …

A few days ago, the credit rating agency Fitch maintained the current assessment of Bulgaria's government debt, but adjusted the "outlook" downwards from "positive" to "stable". This means that Fitch does not believe that in the foreseeable future (most likely by the end of the year) there will be conditions for improving the categorization of the government debt.