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Latest Publications

CASE Network Studies and Analyses No. 408:
Knowledge-based Entreprenuership in Poland    

CASE Network Studies and Analyses No. 409:
Knowledge-based entreprenuership in Romania

CASE Network Studies and Analyses No. 407:
Knowledge-based entreprenuership in Estonia

CASE Network Studies and Analyses No. 405:
The Customs Union between Belarus, Kazakhstan and Russia: and Overview of Economic Implicaitons for Belarus 

CASE Network Studies and Analyses No. 403:
Global Food Price Shock and the Poor in Egypt and Ukraine

CASE Network E-brief No. 10/2010:
After the Orange Era: Economic Prospects in Ukraine

CASE Network Studies and Analyses No. 402:
Does the Crisis Experience Call for a New Paradigm in Monetary Policy?

CASE Network Report No. 93:
Modeling Economic, Social and Environmental Implications of a Free Trade Agreement Between the European Union and the Russian Federation

CASE Network E-brief 9/2010:
Euro Crisis or Debt Crisis?  

Polish Economic Outlook:
PEO 1/2010   

CASE Network E-brief 8/2010:Is Inflation a Global Threat?

CASE Network E-brief 7/2010:
Prospects for Future Euro‐Mediterranean Trade

CASE Network E-brief 6/2010:
Oil Money vs. Economic Crisis: The Case of Azerbaijan 

CASE Network Report No. 92:
Challenges and Trajectories of Fiscal Policy and PFM Reform in CEE/CIS 

CASE Network Studies and Analyses No. 401:
Mergers and Acquisitions - The Standing of theory in the Quest for Better Institutions and Policy   

CASE Network Report 91:Pension Reform Options for Russia and Ukraine: A Critical Analysis of Available Options and Their Expected Outcomes

Polish Economic Outlook
4/2009 report

CASE Network E-Brief 05/2010Social security, Labour Market and Restructuring – Russia and Ukraine

CASE Network E-Brief 04/2009Challenges of Post-Crisis Economic Policy in Russia

CASE Network E-Brief 03/2010: The price of delay: the future of Russian and Ukrainian pension systems

CASE Network E-Brief 02/2010:
Tax wedge, labor market and the shadow economy

CASE Networks Studies and Analyses No. 400:
Energy Security in the EU and Beyond   

CASE Network Studies and Analyses No. 399:
Agriculture Income Assessment for the Purpose of Social Assistance: the Case of Ukraine    

CASE Network E-briefs No. 01/2010:
The global recession and energy markets

CASE Network Report No. 90:
Social Security, Labour Market and Restructuring: Current Situation and Expected Outcomes of Reforms

CASE Network E-briefs 12/2009:
From fiscal stimulus to fiscal crisis

CASE Network Studies and Analyses No. 398:
Social Security Driven Tax Wedge and Its Effects On Employment and Shadow Employment

CASE Network Studies and Analyses No. 397:
Restructuring and Social Safety Nets in Russia and Ukraine - Socail Security Influence on Labor Mobility: Possible Opportunities and Challenges

CASE Network Report No. 89:
Economic Integration in the Euro-Mediterranean Region

CASE Network Studies and Analyses No. 396:
Energy security, poverty and vulnerability in Central Asia and the wider European neighborhood

CASE Network Studies and Analyses No. 395:
The East European financial crisis

CASE Network E-briefs No.11/2009:
No, the central banks didn't do it

CASE Network Reports
No. 88

Deep Integrations with the EU and its Likely Impact on Selected ENP countries and Russia

PEO 3/2009
Large Fiscal Deficit in Poland - curse #1

CASE Network Studies and Analyses No. 394
Differentiation of Innovation Behavior of Manufacturing Firms in the New Member States. Cluster Analysis on Firm-Level Data




e-Newsletter



Last update
2010-08-23


News

In defense of entrepreneurial capitalism (2009-05-22)

According to Balcerowicz, it looks too simple and superficial just condemn the entrepreneurial capitalism, while the true question should be “what capitalism” and whether the present crisis sheds a new light on this issue. Is the financial sector an exception? Can the financial crisis be interpreted as a pure market failure which calls for more public intervention? The author presents examples of various policy flaws during the last decade which might contribute to building global imbalances, assets bubles, and finally to financial crash.

Every crisis produces a shock to mass beliefs and thus may have policy consequences. In democracy the direct impact of the economic crisis is mediated by competing interpretations provided by the intellectuals and politicians, and conveyed by the media. There is a risk that empirically dubious but emotionally attractive interpretations, which condemn markets and call for more statism, can gain ground. The materialization of this risk would damage longer term growth prospects of the entire world economy and cause serious social and political consequences.

In conclusion Leszek Balcerowicz affirms that dynamic, entrepreneurial capitalism has nowadays no serious external enemies; it can only be weakened from within. Such a risk should be regarded as a call to action – for those who believe that individuals’ prosperity and dignity are best ensured under the limited government.

 

 

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