Economics of Sustainable Development. Competitiveness and Economic Growth.docVIP

Theoretical and Applied Economics Volume XVIII (2011), No. 2(555), pp. 5-12 Economics of Sustainable Development. Competitiveness and Economic Growth* Dorel AILENEI Bucharest Academy of Economic Studies dorulilenei@ Liviu-Cosmin MOSORA Bucharest Academy of Economic Studies mosoracosmin@ Abstract. Economic growth is one of the most important issues of humanity. Both in national economies and world economy, recession and prosperity periods are regularly succeeding with different amplitudes. But beyond these fluctuations and their effects, the results are important: performance and economic growth. Because of the problematical issue of economic growth, the authors are trying to critically reflect on the economic growth concept and on its implications on the praxis area. Although there is a large literature about economic growth modeling, it is intriguing that there still are some serious obstacles for conceptualization and praxis. Only the simple fact that the economic growth process needs serious thinking on the time dimension is sufficient for understanding the real difficulties of this problematical issue. As for the economic growth praxis, a clear analysis of the interests system within an economy is needed. Without trying to find miraculous solutions for the economic growth issue, the authors suggest a clear and correct analysis of this important subject. Keywords: economic growth; economic time; economic equilibrium; macroeconomic fluctuations; economic development. JEL Code: E32. REL Codes: 8E, 8H. * Ideas in this article were presented at the Symposium ?The global crisis and reconstruction of economics?”, 5-6 November 2010, Faculty of Economics, Bucharest Academy of Economic Studies.  6 Dorel Ailenei, Liviu-Cosmin Mosora From the human progress perspective the most important issue is economic growth. Nations prosper when important