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Finance and Credit
 

The law of value and the global financial crisis (or what are the real causes of the present economic crisis and the problems of the Republic of Bulgaria)

Vol. 15, Iss. 15, APRIL 2009

Available online: 16 September 2009

Subject Heading: Foreign experience

JEL Classification: 

Mikhailov E. Associate Professor, the Commercial Academy named after D.A. Tsenov, Bulgaria ;

The article names the causes of the world economic crisis and states that the driving force of the financial crisis is the ‘forgotten’ laws of market economy and their derivatives, such as money, credit, interest, inflation, etc. It criticizes the modern superficial study of economics and asserts that the ‘creation of money’ cannot be an end in itself, that it should be a means to achieve progress and well-being, and if behind the money there are no real, high-quality goods and services in demand at the market, it will right away become a needless attribute of economic life.

Keywords: economy, crisis, function, money, objectivity, law, deflation, catastrophe, problem, Bulgaria

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ISSN 2311-8709 (Online)
ISSN 2071-4688 (Print)

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