Establishment of the Society of Academic Economists in Bulgaria

The main goal of this study is to present the initiation and the development of the Society of academic economists in Bulgaria. The text analyzes the main historical facts related to the conditions and motives for its creation. It also presents the goals and tasks, as well as the structure, management and financing of the organization. The emergence of the Society was part of the general flow of events that take place both nationally and internationally after the end of the World War I. The country was amongst the defeated nations in World War I. It lost territories, its production was destroyed and finances were shattered. The Society of academic economists, was founded on June 1, 1926. It was situated in Sofia. Very soon the society expanded and branches were established in Gabrovo, Ruse, Varna, Burgas, Yambol and Sevlievo. The founders – 88 people altogether, were part of the academic staff of the Free University of Political and Economic Science. Some of the leading figures of the society were Andrey Lyapchev, prof. Petko Stoyanov, prof. Dimitar Dobrev, Konstantin Bobchev, etc. They all have completed their university education abroad. They were figures with great professional skills and an entrepreneurial spirit. The Society of academic economists played an important role in promoting knowledge of economics. In the first year of its setting up the organization managed to attract supporters from all over the country and gained wide public popularity and support. The Society of academic economists also published one of the most prestigious periodicals in economics in Bulgaria — the journal Economic thought. Editor-in-Chief of the journal was prof. P. Stoyanov and two were the contributing editors – P. Leshtov, PhD and Y. Petkov, PhD. The journal became an ambience for professional discussions and exchange of ideas.