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Who is responsible for the financial crisis started in the U.S.A. in 2007, which then ravaged the whole world and has not ended even today? Can it be delimited? This paper attempts to provide several possible answers to these questions, generated by as many problems. And its motivation is simple: the contours of the future global economic recovery cannot do without the explanation of the crisis, and especially without the identification of its main responsible. [ABSTRACT FROM AUTHOR]

Human societies are evolving in sequences similar to a business cycle. The cause for which the evolution is accompanied by setbacks lies in the complexity of social systems, which, ab initio, cannot be designed or intended by any human mind, and the irrationality arising from limited rationality of economic actors. Therefore, the time shows similarities, but rarely identities. Rather, we can talk about chronological series of similitudes, of repeatable errors and adjustable patterns. Using qualitative research and the introspective analysis, we explore the pattern which the Romanian economy followed under the sign of global crisis. We found that Romania's economy doesn't have a problem with its path but with the way in which it follows the trend ideologically and historically. Also, we found out that the end of the crisis is not just following an ordinary path, but represents the chance for the economy to be re-equipped with weapons of competitiveness and honour in order to leave the current era of nihilism. [ABSTRACT FROM AUTHOR]

A world without crisis may seem an utopia. A crisis is a necessary feature that accompanies the evolution of a human society. The crisis from 2007 showed how difficult is to apply macroeconomic governance and regulations, taken on the contours of globalization. The policymakers did not have to deal with a "simple" macroeconomic imbalance, but with layered crisis which had to be cured using a network of solutions. Crisis are not pure, but combine features of several known theoretical patterns. The profligacy of governments and etatist institutions represents the core-triggering element. The financial institutions which performed risky and costly maneuvers made possible the return of Keynesianism in most of the cases. Although the exacerbated regulations may cause a decisive step towards the new failure of the state, these theories conduct to the evolution of the economic theory. [ABSTRACT FROM AUTHOR]