Daianu (the former chief economist of the Romanian Central Bank, now a professor of economics at Romania’s National School for Political Studies and Public Administration) brings together eight pieces of economic analysis authored or co-authored over the past decade. Topics include the prerequisites of economic development, including the role of ethics; the current financial crisis; the European economic model and challenges facing the European Union; the crisis of the international economic regime within the context of the diminishing power of the West, and a looming "clash of capitalisms." Overall, he argues that modern economies need regulations and public policies so that public goods are in adequate supply and negative externalities are prevented or constrained.