Radu Craciun

“Economics is not an exact science. It’s a combination of art and elements of science”, said Paul Samuelson, the first American to win the Nobel Prize in Economic Sciences. Central banks seem to have forgotten this lesson in recent decades. Banning central banks from purchasing the debt of their own country has been, until the […]

The ESG acronym has become increasingly pervasive in corporate communication. “E” is the first letter of the word “environment”, suggesting the importance of environmental protection in conducting economic activities. “S” is the first letter of the word “social” and stresses the fact that businesses must attach due importance to the people and their relations with […]

In my comment called  “The war of the century which will define our future”, made at the end of 2016, I pointed out that globalization damaged the win-win balance between two essential factors of production: Labor and Capital. Basically, I explained that, while globalization boosted the number of opportunities/the demand for capital, the supply of […]

The economic and military armament of the big illiberal powers – Russia and China, in particular – was achieved with capital originating in liberal countries. The capital’s unscrupulous pursuit of globalization opportunities after the fall of communism thinned the middle class “at home” and created in autocratic countries economies so strong that the capitalist society […]

The greatest military victories in history would not have been achieved without the leaders of those times. People of sound mind do not willingly sign their death warrant; instead, they protect their lives and avoid evil. So what drove them to sacrifice their lives by the hundreds of thousands in the great battles they fought? […]

Russia’s current reaction is justified by NATO’s aggressive expansion eastward. This is the theory that sparks heated debates, both among experts and the general public. Although I think it should be abundantly clear to everyone that no explanation, however elaborate, can justify the death and suffering of so many millions of innocent people. Their death […]

Fleeing or rapidly moving away from danger is a response deeply imprinted in the animal subconscious as a way to ensure the survival. In any species of any size, sensing an imminent life-threatening danger triggers automatic, instinctive responses that cause the individual to quickly turn away from the peril. For tens of thousands of years, […]