Energy Crisis and Entrepreneurial Failure

Abstract

The author starts from the notion of a deterministic, causality-based model with which we can analyse phenomena of the Romanian economy that finds itself under the impact of a couple of crises. The two years of the pandemic have generated numerous dysfunctions and imbalances in various integrated markets. As we survey the Romanian business environment, their impact is visible. Emphasis is put on the pressure of certain crises pertaining to a range of factors such as: the pandemic, the workforce, energy, finance etc., which lead to unemployment, inflation, bankruptcy, and the decline of the quality of life. At the heart of the paper, we analyse the impact of the energy crisis on the business environment, public institutions, and population. The network of interconnected negative effects is highlighted through the state of entrepreneurial failure. In the conclusion of this paper, the effects that lead to the reduction of the quality of life in Romania are underscored.