Contribution of the liberal economical thinking to the industrial development of Romania (1859-1918)

Abstract

For the strengthening of the national economic organism, through the reformation of the economic and political life of the country, the period 1859-1918 is one of reference. Romania’s modernization and development are the result of the contribution brought by the thinkers of the time, especially by the radical liberal thinkers. In the same time, we should not neglect the participation, more modest however, of the conservative thinkers at the economic advancement of the country. In spite of the good results in the industrial field, industry was still occupying a secondary position in country’s economic structure, accounting for approximately 20% of the national income. The development of new industrial sectors reduced the imports of consumption goods, even if, until World War I, the Romanian market was dependent on the West. In this paper, I want to analyse the liberal thinking from the logical, theoretical and doctrinaire viewpoint and, also, to follow the way this thinking has come true in Romania’s long-term development strategy, elaborated by the liberal governments and the practical results obtained on this basis.