Florin Georgescu: A New Outlook on Romanian Capitalism

Abstract

In 2021, the Romanian Sociological Association awarded economist Florin Georgescu its Award for Excellence. This essay covers the author’s magnum opus, titled Capital in Post-communist Romania, and focuses on the content most relevant to sociology. Unique in size and scope, the approximate 1,000 page three-volume book features three books in one: a 30-year economic history of Romania, a critical analysis of the way the Romanian capitalist economy developed in the second half of the 2010s, and a blueprint for structural reforms to foster development and reduce inequality. The essay includes a short author presentation and an overall review of the book’s contents, an appraisal of the work’s style and originality, and a review of the themes and subjects most salient for sociologists: capital ‒ labour relationship and the distribution and redistribution system, income and wealth inequality, precarious work, the transition and privatisation processes, structural problems of capitalism, and development policies.

Keywords

• Romania
• capitalism
• transition
• market economy
• labour
• income inequality