Pencho Denchev Penchev

• Professor
• Head of Department at University of National and World Economy

The paper presents a historical and theoretical analysis of the issue of local currency (coins and paper money), undertaken in various forms by the Orthodox Christians in the Balkan provinces of the Ottoman Empire (XVII -XIX centuries). The paper has two main goals. The first is to enrich the discussion on the diversity and complexity of monetary p...

Carl Menger founded the Austrian School of economics at the end of the 19th century. He rejected some of the main ideas of the German Historical School in his work Investigations into the Method of the Social Sciences with Special Reference to Economics (1881). The submitted paper presents the main implications of the investigations on the theory o...

This article deals with the explanation and reconstruction of the theoretical and methodological eclecticism typical of Bulgarian economic and social thought. This eclecticism brings together extremely opposite and mutually exclusive theoretical and methodological elements such as classical liberalism, physiocracy and mercantilism, protectionism, e...

The aim of this paper is to clarify the definition of economic nationalism on the basis of recent scientific achievements, and by drawing attention to new facts from the history of economic thought in Bulgaria before the liberation of the country from Ottoman domination (1878). According to modern concepts economic nationalism is not illiberal or p...

The education system after the Liberation of Bulgaria in 1879 was nationalized and centralized. As a result, the number of literate Bulgarians increased, but the system became detached from the social necessities and began to work in its own favor. At least for the considered period of 1879-1912, no visible positive consequences of the government e...

The understanding of the economic development always is based on the knowledge how the economic elements have been appearing through the human society lifecycle. Thus, the contemporary worldwide economy is result of everything that had happened in the society before. Therefore, the understanding historical development of the contemporary business e...

Книгата представя историята на българското предприемачество през няколко периода: преди и след Освобождението, комунистическия режим, прехода и членството в ЕС. Тя съдържа оригинална интерпретация на добре познати и нови факти от гледна точка на съвременните разбирания за предприемачеството.

This article puts the well-known Coasean concept of the firm into the concrete historical environment of the nineteenth-century Ottoman Balkans. The goal is to test whether it can explain the establishment of the first modern firms in conditions predominated by a self-sufficient semimarket economy. On the basis of Bulgarian-owned firms, the authors...

The research question of the paper is: does the concept of homo economiocus is adequate for understanding the economic behavior of people under Marxian politico-economic system? The answer is based on research of primary archival sources on the activities of several socialist enterprises in Bulgaria. The author found that some activities of the soc...

The article makes a comparative analysis of the status of land property in the Ottoman Empire (within the period from 1839 to 1878) and Bulgaria after the Liberation (1879–1912). The findings indicate significant discrepancies. While in the Ottoman Empire land property (rakaba) ideally belongs to the state, in practice the immediate agricultural pr...

The main purpose of the paper is to outline some of the peculiar and more specific manifestations of market processes in Bulgarian society during the last few decades before the Liberation (1878). With the formation of the Bulgarian nation, the market forces format and rationalize its development. It is important to emphasize, however, that the mar...

The paper reconstructs the views of the first professional Bulgarian post-liberation economists. The primary source of this information is the “Industry” journal, which was published in the Danube port-town of Svishtov over the period from 1887 to 1890 by several teachers at the local School of Commerce. The authors’ thesis is that the papers in th...

Based on a politico-economic analysis, the paper provides answers to important questions about the April Uprising of 1876: why the Bulgarians revolted, why many Bulgarians did not revolt, and why the uprising was relatively short as a time-span. According to the available primary sources the Bulgarians who revolted in April 1876 revolted because th...

The paper reconstructs the views of the first professional Bulgarian post-liberation economists. The primary source of this information is the “Industry” journal, which was published in the Danube port-town of Svishtov over the period from 1887 to 1890 by several teachers at the local School of Commerce. The authors’ thesis is that the papers in th...

The article presents an analysis of honesty as an important aspect of the Bulgarian economic culture. The focus is on the transition from the Bulgarian Revival to the nation state and the subsequent period 1879 – 1944. The main conclusions are synthesized in two hypotheses. The first is that the transition from Ottoman rule to an independent nation...

During the period 1879-1912 in Bulgaria the security of private land ownership was very conditional. The rule of law also was not a well-established practice. The paper identifies laws whose provisions were not implemented, normative acts, which, although considered as necessary, were not adopted for a long time, and laws, the application of which...

There are many examples of the existence of order without the state. Among them are the Bogomil municipalities in the middle Ages, pirates, the so-called Wild West in America, etc. Here we will briefly present some more or less successful stateless structures. Their history will help answer the questions: is order without a state possible and are a...

De l’indépendance en 1878 à la seconde guerre mondiale, la Bulgarie sent la pressante nécessité de moderniser son économie, ses institutions et son système politique. Les idées libérales y ont connu des fortunes diverses, avec toutefois un rôle de premier plan dans le paysage intellectuel, et ont influencé les élites et la formation de la politique...

The presented report provides guidelines for the successful publication of an article in an authoritative scientific economic journal. The general and specific requirements for writing and submitting an article in a good periodical are discussed too. Attention is drawn to the efforts the author has to make to disseminate his contributions to the sc...

The author makes an attempt to investigate functioning of the largest metallurgical plant in Bulgaria – “Kremikovtzi” MC – through the prism of Misesian and Hayekian arguments concerning the economic organization of the socialist society. The main conclusion is that the arguments with a high degree of abstraction – especially those of Mises - remai...

The author makes an attempt to investigate functioning of the largest metallurgical plant in Bulgaria-"Kremikovtzi" MC-through the prism of Misesian and Hayekian arguments concerning the economic organization of the socialist society. The main conclusion is that the arguments with a high degree of abstraction-especially those of Mises-remain invisi...

The study focuses on the socioeconomic consequences of price controls performed by state and municipal authorities in Bulgaria during the Interwar period. It shows that their social welfare intentions often differ from the results achieved, and instead of alleviating the situation of the poor it is getting worse. The mere price fixing does not solv...

In the study there is made a summary reconstruction of key elements of Prof. Dolinski's scientific work. In this way there is highlighted his place in the history of Bulgarian economic thought. There are also revealed the details of the process of Bulgaria's passing from the intellectual periphery into the semi-periphery with respect to economic re...

This paper focuses on the role of the state on the economic policy of Bulgaria and Turkey during the interwar period. The idea of state/government intervention in the economy has a long tradition in the Balkans. This tradition was influential among both politicians and intellectuals in Bulgaria and Republican Turkey. The comparative perspective of...

During the 1930s and early 1940s, the problems of economic dirigisme and its theoretical analysis attracted the attention of Bulgarian economists. To some extent, it was compensation for the fact that they missed the socialist calculation debate of the interwar period. Their analyses were placed within the framework of a demand and supply core, com...

В отличие от хорошо изученной немецкоязычной эмигрантской волны экономистов между двумя мировыми войнами, русскоязычная эмиграция не была объектом систематического анализа. Будучи хронологически первой (после прихода к власти большевиков в 1917 году) и не менее масштабной, чем немецкоязычная, русская эмиграция не только внесла существенный вклад в...

The Bulgarian Turnovo Constitution of 1879 is subject to many and often well-founded criticisms in the modern Bulgarian historiography. This article however, highlights two fundamental principles of classical liberalism introduced in the constitutionand often supported by the so-called conservatives in the Constituent Assembly. These fundamental pr...

In general, the perspectives for the Bulgarian economic development during the interwar period were dominated by the ideas of dirigisme. Based on published research of Bulgarian economists the author reveals their market oriented ideas, which were an alternative of the mainstream economic thought. It consists of two basic elements. The first one is...

20 век селското стопанство е основният сек-тор в българската икономика. От неговото състояние до голяма степен зави-си цялостното развитие на страната и жизнения стандарт на населението, то предопределя някои от главните насоки на стопанската политика, от него зависят публичните финанси, външната търговия и т.н. Поради това то при-влича вниманието...

In this article, we present the discussions of Bulgarian economists as regards the strategic development opportunities of the Balkans and Bulgaria in particular within Europe. We focus on the integration efforts of Bulgaria within an economic unit larger than national market during the decades of the so-called first Bulgarian capitalism. Those are...

Представената статия е опит да се преодолеят някои от митовете, с които е „обрасло“ Българското възраждане, и на тази основа да се посочат неговите истински постижения. Най-важното постижение според автора е способността на българите да се самоорганизират, без да са направлявани от някаква централна власт. Първият и най-съществен урок от историята...

The main goal of this study is to highlight the acceptance, dissemination, interpretation, criticism and make some attempts at contributing to Austrian economics made in Bulgaria during the last 120 years. We consider some of the main characteristics of the Austrian school, such as subjectivism and marginalism, as basic components of the economic t...

The Russian-Speaking scientific emigration after the Bolshevik revolution of 1917 has not been the subject of a systematic analysis. The Russian émigré economists made important contributions to the «high economic theory» and they were essential for the formation of the economic communities and traditions in several Southeast and Central European c...

1914-1918) и Голямата депресия от 30-те години на ХХ век предизвикват дълбоки промени както във философията, на която се базира стопанската политика, така и в теоретичното осмисляне и анализ на икономическите проблеми. На съмнение са подложени редица от фун-даменталните принципи на класическия либерализъм, а също и на иконо-мичeските теории, фокуси...

The paper discusses the main characteristic features of economic history. The author makes an attempt to highlight the meaning and social importance of research in this field. These problems are placed in the light of the achievements and shortcomings of the economic history in Bulgaria. The author argues that the cliometric studies of economic his...

Book review of a recent publication in Global economic history

During the period of the so-called first Bulgarian capitalism (1878-1944) one of the most interesting problems that preoccupies the economists in the country is linked to the perspectives and consequences of the economic and political integration of Bulgaria and the other Balkan or European countries. They approached this issue with a large dose of...

1912, с. 102). Думите му безспорно са добронамерени, но в тях се съдържат известно пренебрежение и недооценяване на основните еле-менти от дейността и идеите, които отстоява с цялостната си дейност казанлъш-кият възрожденец. Фактът, че някой е останал скромен и незабелязан, може да се дължи на обстоятелството, че просто заслужава да остане скромен...

I. Въведение Историците много често познават съвсем слабо основни икономически теоретични постановки, термини, категории и понятия. Голяма част от икономистите, от своя страна, също не отчитат значението на общите исторически и институционални характеристики на даден период, а в съвремието историята е с малко значение за икономикса (Rosner, 2001 [2...

The paper outlines some of the main characteristic features of Bulgarian social and economic thought during the period, dominated by the norms of Orthodox Christianity. In the context of this thinking of the period before the appearance of specialized economic knowledge, several key elements can be identified, such as first, the strong role of the...

The aim of this paper is to clarify the most important aspects of the Bulgarian economic nationalism before the liberation of the country from Ottoman domination (1878). According to modern concepts economic nationalism is not illiberal or protectionist, because some economic nationalists were liberals and free-traders. The existing definitions of...

20, 50 или 100 години (Roncaglia, 2005). Ако се следва ло-гиката на кумулативния подход, излиза, че няма нужда да се познават идеите на икономисти, които са отдавна мъртви, защото всичко ценно от тях е въплъ-тено в съвременната икономическа теория, а ненужното е отхвърлено. В този смисъл заниманието с история на икономическата мисъл е един вид безо...

1853-1856 г.) и про-дължават до Освобождението на България през 1878 г.-т.е., обхващат т. нар. последен етап от периода на българското Възраждане. Обемът и обхватът им са относително скромни. Първоначално стопанските проблеми са обсъждани по страниците на периодичния печат. Постепенно обаче са направени опити за публикуване на периодични издания, к...

Issue:

The paper presents the economic views and economic policy of Grigor Nachovich and Ivan Evstratiev Geshov. They were among the most prominent Bulgarian statesmen and economists at the end of 19th and the beginning of the 20th century. In their theoretical works and in their economic policy they made an attempt to establish a politico-economic model...

The paper presents the economic views and political activities of one of the most influential Bulgarian political economists – Alexander Tsankov. They were strongly influenced by his socialist worldview. The socialism of professor Tsankov is alternative only if one accepts the self-definition of Marxism as the sole scientific socialism. Then as alt...

Направен е сравнителен анализ на две оригинални теории за международната търговия и протекционизма, възникнали в България и Румъния между двете световни войни, като продукт на специфичната стопанска среда, както и на разпространението на икономическите идеи, идващи от икономически развитите страни. Става въпрос за теорията на всеобщия протекционизъ...

JEL: N01; N10; B15; D64 Научно-изследователската работа на проф. Иван Кинкел от 20-те до средата на 40-те години на ХХ век представлява пръв опит в България за разработване на теоретичните основи на стопанската история, за определяне на отношението й спрямо икономическата теория и за свързването й с постиженията на други науки. Този опит е направен...

Francesco Boldizzoni’s new book, “The Poverty of Clio: Resurrecting Economic History” seeks to push back against the growing imperialism of cliometrics. Boldizzoni sees this as a threat because “the (unconfessed) aim of cliometrics is not to increase our knowledge of the past” (p. 5), but to endorse specific worldviews and policy recommendations. “...

The paper makes a comparative analysis of two original theories for international trade and protectionism in Bulgaria and Romania between the two World Wars, as a product of the specific economic environment, as well as the distribution of the economic ideas coming from economically developed countries. The paper discusses the theory of the general...

The long-term economic consequences of the Russo-Turkish war (1877-1878) for Bulgaria could not be regarded one-sidedly as positive or negative. The elimination of the Ottoman rule did not result automatically in acceleration of the Bulgarian rate of economic development and Bulgaria remained one of the poorest countries in Europe. A number of fund...

The economics in Bulgaria after the II World War are shattered. The country has to face the obligations from the Neuille treaty. The development is hindered by the numerous casualties in the wars and the thousands of refugees. Very bad efect on the economical state has the detachment of South Dobrudja and West Thrace. The detached agricultural gove...