Issue 4, 2005

An attempt is made to deduce definitions about terms "surplus product", "surplus utility" (this term is introduced for the first time here) and "surplus value" in microeconomics with the help of the relative theory of utility and value, which basic concepts were developed by the author in his previous articles. The main objective is to prove that these concepts exist in the economic reality and are absolutely compatible with the modern economic theory (economics) and that is why they should be included in it. Marx theory of surplus product and surplus value is only a special case of the thesis justified in the article. By means of this thesis it is possible to define such terms as "marginal surplus product", "marginal surplus utility" and "marginal surplus value".

JEL: A10; D11; D20

Opportunities and challenges to Bulgarian agriculture after the EU accession, resulting from the common terms of membership and expected development of the Common Agricultural Policy (CAP), are examined. Conclusions are made on this basis conerning the agricultural policy in Bulgaria immediately before and after the membership date. Long- and medium-term aspects of agricultural development are analysed from the point of view of globalisation processes of the world economy, forecasts about the demand for food products for a 30-year period and the developing model of European agriculture.

JEL: Q17; Q18

Globalisation and regionalism in the world economy and changes in the functioning of the world financial system caused regional financial crises in the 1990s. The possibility for their spreading, which provoked a search for a model of a new financial architecture and an analysis of the causes for financial crises, is studied, as well as their impact on other regions and countries. Upon studying the development of regional integration, methods for evaluation, forecasting and possible prevention of consequences of these crises are sought, especially for countries striving for accessing integration communities, mostly the European Union.

JEL: F02; F21; G18

Emphasis is put on self-criticism that has been developing in the field of economic theory for the last decade. Three issues are analysed in order to answer the question "Has the economic theory made any progress?" - development of orthodox economic thought; evolution of non-orthodox schools and trends; emerging of the new institutional theory. The latter is defined as a valuable achievement in the development of theoretical economic thought with specific strong opportunities for solving problems of the transition economy.

JEL: B20; B50

Peculiarity of the theory of value of Mises is presented, and a special emphasis is put on differences with the concept of value of earlier Austrian economists. In the light of it the importance of economic calculation issues is deduced too.
The theory of interventionism, developed by Mises, is presented in some details. His main conclusion, that interventionism is not an economic system which enables people to reach their goals, is pointed out. Special attention is paid to the character of economic laws. With regard to this a critical analysis of a number of statements in a book by Stefka Koeva (Austrian Economic School: Characteristics and Individual Achievements, Varna, Steno, 2003) is made.

JEL: B20; B53