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Balances Mechanics
The Balances Mechanics (german: Saldenmechanik; from balances of bookkeeping respectively the credit system and mechanics to characterize the strict universal identities) is a work and mean of economics, comparable with Stock-Flow Consistent Modelling. Statements of Balances Mechanics are not based on assumptions and preconditions of a model but are of trivial arithmetic nature, usually shaped as equation and universal without restrictions. Balances Mechanics were developed by Wolfgang Stützel and published in his books ''Paradoxa der Geld- und Konkurrenzwirtschaft'' ''(Paradoxes of Competition-Based Monetary Economies)'' and ''Volkswirtschaftliche Saldenmechanik'' ''(Balances Mechanics of Economics)''. Overview Balances Mechanics deals with interrelations, the validity of which – contrary to most economics postulates – does not depend on assumptions about human behaviour. Balances Mechanics allows to put these frequently necessary assumptions of economic theories and postu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economics
Economics () is the social science that studies the Production (economics), production, distribution (economics), distribution, and Consumption (economics), consumption of goods and services. Economics focuses on the behaviour and interactions of Agent (economics), economic agents and how economy, economies work. Microeconomics analyzes what's viewed as basic elements in the economy, including individual agents and market (economics), markets, their interactions, and the outcomes of interactions. Individual agents may include, for example, households, firms, buyers, and sellers. Macroeconomics analyzes the economy as a system where production, consumption, saving, and investment interact, and factors affecting it: employment of the resources of labour, capital, and land, currency inflation, economic growth, and public policies that have impact on glossary of economics, these elements. Other broad distinctions within economics include those between positive economics, desc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Paradox Of Competition
Paradox of competition in economics names a model of a situation where measures, which offer a competitive advantage to an individual economic entity, lead to nullification of advantage if all others behave in the same way. In some cases the finite state is even more disadvantageous for everybody than before (for the totality as well as for the individual). The term ''Paradox of competition'' (german: Konkurrenzparadoxon) was coined by German economist Wolfgang Stützel. It is about a case of a rationality trap. Stützel distinguishes three categories of paradoxes of competition: # Circuit paradoxes # Classical paradoxes # Marx paradoxes Examples * Advertising: the overall demand for detergent is assumed steady. By advertisement the individual venture can expand its share in market at the expense of its competitors. But if all producers of detergent do the same, their expenses for advertisement rise without gaining higher sales at large, so that profits even decline. * Openi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Paradox Of Competition
Paradox of competition in economics names a model of a situation where measures, which offer a competitive advantage to an individual economic entity, lead to nullification of advantage if all others behave in the same way. In some cases the finite state is even more disadvantageous for everybody than before (for the totality as well as for the individual). The term ''Paradox of competition'' (german: Konkurrenzparadoxon) was coined by German economist Wolfgang Stützel. It is about a case of a rationality trap. Stützel distinguishes three categories of paradoxes of competition: # Circuit paradoxes # Classical paradoxes # Marx paradoxes Examples * Advertising: the overall demand for detergent is assumed steady. By advertisement the individual venture can expand its share in market at the expense of its competitors. But if all producers of detergent do the same, their expenses for advertisement rise without gaining higher sales at large, so that profits even decline. * Openi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Paradox Of Thrift
The paradox of thrift (or paradox of saving) is a paradox of economics. The paradox states that an increase in autonomous saving leads to a decrease in aggregate demand and thus a decrease in gross output which will in turn lower ''total'' saving. The paradox is, narrowly speaking, that total saving may fall because of individuals' attempts to increase their saving, and, broadly speaking, that increase in saving may be harmful to an economy. The paradox of thrift is an example of the fallacy of composition, the idea that what is true of the parts must always be true of the whole. The narrow claim transparently contradicts the fallacy, and the broad one does so by implication, because while individual thrift is generally averred to be good for the individual, the paradox of thrift holds that collective thrift may be bad for the economy. It had been stated as early as 1714 in ''The Fable of the Bees'',Keynes, ''The General Theory of Employment, Interest and Money''"Chapter 23. Notes o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Funding Consolidation
Funding is the act of providing resources to finance a need, program, or project. While this is usually in the form of money, it can also take the form of effort or time from an organization or company. Generally, this word is used when a firm uses its internal reserves to satisfy its necessity for cash, while the term financing is used when the firm acquires capital from external sources. Sources of funding include credit, venture capital, donations, grants, savings, subsidies, and taxes. Fundings such as donations, subsidies, and grants that have no direct requirement for return of investment are described as "soft funding" or "crowdfunding". Funding that facilitates the exchange of equity ownership in a company for capital investment via an online funding portal per the Jumpstart Our Business Startups Act (alternately, the "JOBS Act of 2012") (U.S.) is known as equity crowdfunding. Funds can be allocated for either short-term or long-term purposes. Economics In economics fun ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ewald Nowotny
Ewald Nowotny () (born June 28, 1944, in Vienna) is an Austrian economist and social democratic politician and former governor of Austria's central bank Oesterreichische Nationalbank. He was also a member of the European Central Bank’s governing council. Early life and education Nowotny graduated with a doctorate from the University of Vienna in 1966, took his habilitation at the Johannes Kepler University Linz in 1972 and was a full professor at the Vienna University of Economics and Business from 1981 until 2008. Political career Since 1974, Nowotny has held various functions in the Austrian Social Democratic Party. He was a member of the National Council, the more important chamber of the Austrian parliament, from 1978 to 1999. Career at financial institutions From 1999 to 2003, Nowotny was vice president of the European Investment Bank in Luxembourg. From the beginning of 2006 until mid-2008, he was CEO of BAWAG P.S.K. During his time in office, he managed BAWAG’s sa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Government Debt
A country's gross government debt (also called public debt, or sovereign debt) is the financial liabilities of the government sector. Changes in government debt over time reflect primarily borrowing due to past government deficits. A deficit occurs when a government's expenditures exceed revenues. Government debt may be owed to domestic residents, as well as to foreign residents. If owed to foreign residents, that quantity is included in the country's external debt. In 2020, the value of government debt worldwide was $87.4 US trillion, or 99% measured as a share of gross domestic product (GDP). Government debt accounted for almost 40% of all debt (which includes corporate and household debt), the highest share since the 1960s. The rise in government debt since 2007 is largely attributable to the global financial crisis of 2007–2008, and the COVID-19 pandemic. The ability of government to issue debt has been central to state formation and to state building. Public debt ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Balance Mechanics (overall Economy Incl Abroad)
Balance or balancing may refer to: Common meanings * Balance (ability) in biomechanics * Balance (accounting) * Balance or weighing scale * Balance as in equality or equilibrium Arts and entertainment Film * ''Balance'' (1983 film), a Bulgarian film * ''Balance'' (1989 film), a short animated film * ''La Balance'', a 1982 French film Television * '' Balance: Television for Living Well'', a Canadian television talk show * "The Balance" (Roswell), an episode of the television series ''Roswell'' * "The Balance", an episode of the animated series ''Justice League'' * "Balancing" (''Brooklyn Nine-Nine''), an episode of the eighth season of ''Brooklyn Nine-Nine'' *"Balancing", an episode of the television series ''Teletubbies'' Music Performers * Balance (band), a 1980s pop-rock group Albums * ''Balance'' (Akrobatik album), 2003 * ''Balance'' (Kim-Lian album), 2004 * ''Balance'' (Leo Kottke album), 1978 * ''Balance'' (Joe Morris album), 2014 * ''Balance'' (Swollen Members al ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
National Accounts
National accounts or national account systems (NAS) are the implementation of complete and consistent accounting techniques for measuring the economic activity of a nation. These include detailed underlying measures that rely on double-entry accounting. By design, such accounting makes the totals on both sides of an account equal even though they each measure different characteristics, for example production and the income from it. As a method, the subject is termed national accounting or, more generally, social accounting.Nancy D. Ruggles, 1987. "social accounting," '' The New Palgrave: A Dictionary of Economics'', v. 4, pp. 377–82. Stated otherwise, national accounts as ''systems'' may be distinguished from the economic data associated with those systems. While sharing many common principles with business accounting, national accounts are based on economic concepts. One conceptual construct for representing flows of all economic transactions that take place in an economy ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Equity (finance)
In finance, equity is ownership of assets that may have debts or other liabilities attached to them. Equity is measured for accounting purposes by subtracting liabilities from the value of the assets. For example, if someone owns a car worth $24,000 and owes $10,000 on the loan used to buy the car, the difference of $14,000 is equity. Equity can apply to a single asset, such as a car or house, or to an entire business. A business that needs to start up or expand its operations can sell its equity in order to raise cash that does not have to be repaid on a set schedule. In government finance or other non-profit settings, equity is known as "net position" or "net assets". Origins The term "equity" describes this type of ownership in English because it was regulated through the system of equity law that developed in England during the Late Middle Ages to meet the growing demands of commercial activity. While the older common law courts dealt with questions of property title, equi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Net Worth
Net worth is the value of all the non-financial and financial assets owned by an individual or institution minus the value of all its outstanding liabilities. Since financial assets minus outstanding liabilities equal net financial assets, net worth can also be conveniently expressed as non-financial assets plus net financial assets. It can apply to companies, individuals, governments or economic sectors such as the sector of financial corporations or to entire countries. By entity Calculation Net worth is a combination of financial assets and liabilities. The financial assets that contribute to net worth are homes, vehicles, various types of bank accounts, money market accounts, and stocks and bonds. The liabilities are financial obligations such as loans, mortgage, accounts payable (AP) that deplete resources. Companies Net worth in business is also referred to as equity. It is generally based on the value of all assets and liabilities at the carrying value which is the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Accounts Receivable
Accounts receivable, abbreviated as AR or A/R, are legally enforceable claims for payment held by a business for goods supplied or services rendered that customers have ordered but not paid for. These are generally in the form of invoices raised by a business and delivered to the customer for payment within an agreed time frame. Accounts receivable is shown in a balance sheet as an asset. It is one of a series of accounting transactions dealing with the billing of a customer for goods and services that the customer has ordered. These may be distinguished from notes receivable, which are debts created through formal legal instruments called promissory notes. Overview Accounts receivable represents money owed by entities to the firm on the sale of products or services on credit. In most business entities, accounts receivable is typically executed by generating an invoice and either mailing or electronically delivering it to the customer, who, in turn, must pay it within an establ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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