Bulgarian Economic Thought since 1989:

A Personal Perspective

Abstract

Abstract: The profundity and timing of the collapse of the socialist economies took the economists on both sides of the Iron Curtain by surprise. There were no theories that could explain or analyze the nature of such systemic social events and processes. The soviet- style Marxist political economy, neoclassical theory, and Keynesian interpretations were unable to anticipate, explain, or offer solutions to the real problems. 　 This paper, explores the intellectual reactions of the Bulgarian economic community to the collapse of the planned economy and to the practical and theoretical challenges of the post-communist period. The following are the three primary objectives of this study: First is a methodological objective, i.e., for explaining the dissemination of economic knowledge, determining its channels, as well as explaining the basic transmission mechanisms of economic theory in Bulgaria after the disintegration of the socialist bloc. Second is a purely informational objective, i.e., to present the major topics and issues studied during the period 1989-2009 and the findings of the economists working on them. Finally, the third objective and parallel task is to theoretically interpret the development, characteristics, and specificities of the Bulgarian economic thought during that period. 　 The main conclusion of this study is that although a few interesting studies regarding the Bulgarian economic science have been published, they fail to offer independent and original ideas. The Bulgarian economic perspectives closely follow the trends of western economic science, which itself is currently at crossroads and is encountering numerous challenges. JEL classifications numbers: B 20, B 41, P 50. ＊