NECESSITY OF A NEW TYPE OF SYMBIOSIS BETWEEN THE NOMINAL AND THE REAL ECONOMY

Abstract

This paper deals with the rift between the nominal economy and the evolution of the real economy, which represented the main structural cause for the international crisis (since 2007/2008), followed by a prolonged recession and a stagnant growth rate. Analysing the causality and implications of the rupture between the real and nominal facets of the economy, the author is pleading for a new type of symbiosis between the nominal & real dimensions of the socio-economic activity of the human society in the 21st century.

Keywords

• nominal economy
• real economy
• international crisis