Economy needs to stop being hurt with political experiments

Romanian political elites have an insufficiently structured economic culture, with populism filling the “voids of knowledge”, and this poses a major risk to the economy’s exit from the crisis and to bridging the gaps, says Marin Dinu, dean of the Faculty of Economy within the Academy of Economic Studies and a member in the Board of Directors of the NBR (National Bank of Romania).

“The precariousness of economic culture should not be taken lightly as long as there are alternative solutions to development problems, but they are applied by politicians who, depending on their passions or their ignorance, on the pressure of time or on reasons that have to do with the election cycle, make the wrong choices, simplify them, falsify them or replace them.”
Analysing the current economic situation and the reasons for which the crisis is still lingering, professor Marin Dinu puts the blame on a lack of consistency of political options, which alternate between shock therapy and gradual reform. “Hesitating between alternative projects entails major costs for the society and subjects the economy to multiple shocks of the construction/deconstruction type.”
This is the toughest evaluation yet from the academic world, coming from one of the 9 members of the Board of Directors of the Romanian central bank.