Limitations of the neoclassical economics in addressing the problems of the problems of the Republic of Moldova. Lessons from the COVID 19 pandemic [Articol]

Abstract

The global COVID 19 pandemic broke out suddenly, shutting down economic activity all around the world. Moldova was no exception. It is the first time when economists can not comfortably analyse a crisis by mobilizing the theories of economic crises, otherwise their usual knowledge. There is no possible recourse to a body of doctrines that would authorize a scientific treatment of the COVID 19 moment. All the more, there is a fewer place for neoclassical economic ideas which already in standard times arouse much discussion and controversy by analysing the economic policies in terms of rational behaviour or perfect competition between economic agents. Thus, the COVID 19 pandemic calls for questioning not only the economy but economic science as well. In this intervention, I intend to discuss the limitations of the neoclassic economic theory in addressing the economic problems generated by the COVID 19 pandemic in the Republic of Moldova. I will mainly focus on several peculiar institutional characteristics and issues of the Republic of Moldova, and I will ask the question of the economic and political action to be taken against the effects of economic vitrification due to th