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Wolfgang Stützel
Wolfgang Stützel (23 January 1925, in Aalen, Germany – 1 March 1987, in Saarbrücken, West Germany) was a German economist and professor of economics at the Saarland University, Germany. From 1966 to 1968 he was member of the German Council of Economic Experts (german: Sachverständigenrat zur Begutachtung der gesamtwirtschaftlichen Entwicklung). He coined the concept of '' Macroeconomic Mechanics of Balances'' (german: Volkswirtschaftliche Saldenmechanik). Among other things, balances mechanics enabled the theories of John Maynard Keynes in which he argued that government deficit spending can be necessary during a deflationary depression to be placed on a formal, structural arithmetic foundation based on accounting identities. Stützel used balances mechanics to explain how a deflationary depression results from aggregate planned revenues from sales of goods being greater than aggregate planned expenditures on purchasing goods. He also showed on the same basis how an inflati ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Aalen
Aalen () is a former Free Imperial City located in the eastern part of the German state of Baden-Württemberg, about east of Stuttgart and north of Ulm. It is the seat of the Ostalbkreis district and is its largest town. It is also the largest town in the Ostwürttemberg region. Since 1956, Aalen has had the status of Große Kreisstadt (major district town). It is noted for its many half-timbered houses constructed from the 16th century through the 18th century. With an area of 146.63 km2, Aalen is ranked 7th in Baden-Württemberg and 2nd within the Stuttgart (region), Government Region of Stuttgart, after Stuttgart. With a population of about 66,000, Aalen is the 15th most-populated settlement in Baden-Württemberg. Geography Situation Aalen is situated on the upper reaches of the river Kocher, at the foot of the Swabian Jura which lies to the south and south-east, and close to the hilly landscapes of the Ellwangen Hills to the north and the ''Welland'' to the no ... [...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] |
Bundesbank
The Deutsche Bundesbank (), literally "German Federal Bank", is the central bank of the Federal Republic of Germany and as such part of the European System of Central Banks (ESCB). Due to its strength and former size, the Bundesbank is the most influential member of the ESCB. Both the Bundesbank and the European Central Bank (ECB) are located in Frankfurt, Germany. It is sometimes referred to as "Buba" for Bundesbank, while its usual abbreviation is BBk in Germany and internationally DBB. The Bundesbank was established in 1957 and succeeded the Bank deutscher Länder, which introduced the Deutsche Mark on 20 June 1948. Until the euro was physically introduced in 2002, the Bundesbank was the central bank of the former Deutsche Mark ("German Mark", sometimes known in English as the "Deutschmark"). The Bundesbank was the first central bank to be given full independence, leading this form of central bank to be referred to as the ''Bundesbank model'', as opposed, for instance, to th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Berliner Bank
Berliner is most often used to designate a citizen of Berlin, Germany Berliner may also refer to: People * Berliner (surname) Places * Berliner Lake, a lake in Minnesota, United States * Berliner Philharmonie, concert hall in Berlin, Germany * Berliner See, a lake in Mecklenburg-Vorpommern, Germany * Berliner Straße (other), multiple streets in Germany with the name Arts, Entertainment, Media * Berliner (format), a paper size in newspapers * ''Berliner Abendblatt'', the leading weekly newspaper in Berlin * Berliner Ensemble, a German theatre company * ''Berliner Kurier'', a regional daily tabloid * ''Berliner Messe'', or ''Berlin Mass'', a mass by Arvo Pärt * ''Berliner Morgenpost'', 2nd most read newspaper in Berlin * Berliner Symphoniker, symphony orchestra in Berlin * ''Berliner Verkehrsblätter'', a journal on public transport in Berlin * ''Berliner Woche'', advertising weekly in Berlin * ''Berliner Zeitung'', daily newspaper in Berlin * ''The Berliner'' (film ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tübingen
Tübingen (, , Swabian: ''Dibenga'') is a traditional university city in central Baden-Württemberg, Germany. It is situated south of the state capital, Stuttgart, and developed on both sides of the Neckar and Ammer rivers. about one in three of the 90,000 people living in Tübingen is a student. As of the 2018/2019 winter semester, 27,665 students attend the Eberhard Karls University of Tübingen. The city has the lowest median age in Germany, in part due to its status as a university city. As of December 31, 2015, the average age of a citizen of Tübingen is 39.1 years. The city is known for its veganism and environmentalism. Immediately north of the city lies the Schönbuch, a densely wooded nature park. The Swabian Alb mountains rise about (beeline Tübingen City to Roßberg - 869 m) to the southeast of Tübingen. The Ammer and Steinlach rivers are tributaries of the Neckar river, which flows in an easterly direction through the city, just south of the medieval old t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mozarteum
Mozarteum University Salzburg (German: ''Universität Mozarteum Salzburg'') is one of three affiliated but separate (it is actually a state university) entities under the “Mozarteum” moniker in Salzburg municipality; the International Mozarteum Foundation and the Mozarteum Orchestra Salzburg are the other two. It specializes in music, the dramatic arts, and to a lesser degree graphic arts. Like its affiliates it was established in honour of Salzburg-born musician Wolfgang Amadeus Mozart. History and clarification In 1841, Mozart's widow Constanze Weber Mozart founded the first of the “Mozarteum” entities: the “Cathedral Music Association and Mozarteum,” whose mission was the “refinement of musical taste with regard to sacred music and concerts.” The association operated as predecessor to the Mozarteum Orchestra Salzburg through the 19th century and was at the heart of the city’s musical life, offering concerts and related activities. It assumed its present ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Elly Ney
Elly Ney (27 September 1882 – 31 March 1968) was a German romantic pianist who specialized in Beethoven, and was especially popular in Germany. Career She was born in Düsseldorf, where her mother was a music instructor and her father was a registrar.Finscher, Ludwig; Blume, Friedrich (1994). ''Musik in Geschichte und Gegenwart''. . Her grandmother introduced her to the works of Beethoven, and supported her piano playing. She studied at Cologne with Isidor Seiss and Karl Bötcher. After winning the Mendelssohn Scholarship in 1901, she studied in Vienna with Theodor Leschetizky, with whom she only had two lessons, and Emil von Sauer. She taught at the Cologne Conservatory for three years, then became a touring virtuoso. In 1927 she was given the honorary freedom of Beethoven's birthplace Bonn. In 1932 she founded the Elly Ney Trio with Wilhelm Stross (violin) and Ludwig Hoelscher (cello): in quintets the group recorded with Florizel von Reuter (violin) and Walter Trampler (vio ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Wittenberg
Wittenberg ( , ; Low Saxon language, Low Saxon: ''Wittenbarg''; meaning ''White Mountain''; officially Lutherstadt Wittenberg (''Luther City Wittenberg'')), is the fourth largest town in Saxony-Anhalt, Germany. Wittenberg is situated on the River Elbe, north of Leipzig and south-west of Berlin, and has a population of 46,008 (2018). Wittenberg is famous for its close connection with Martin Luther and the Protestant Reformation, for which it received the honourific ''Lutherstadt''. Several of Wittenberg's buildings are associated with the events, including a preserved part of the Augustinians, Augustinian monastery in which Luther lived, first as a monk and later as owner with his wife Katharina von Bora and family, considered to be the world's premier museum dedicated to Luther. Wittenberg was also the seat of the Elector of Saxony, a dignity held by the dukes of Duchy of Saxe-Wittenberg, Saxe-Wittenberg, making it one of the most powerful cities in the Holy Roman Empire. To ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Baden-Württemberg
Baden-Württemberg (; ), commonly shortened to BW or BaWü, is a German state () in Southwest Germany, east of the Rhine, which forms the southern part of Germany's western border with France. With more than 11.07 million inhabitants across a total area of nearly , it is the third-largest German state by both area (behind Bavaria and Lower Saxony) and population (behind North Rhine-Westphalia and Bavaria). As a federated state, Baden-Württemberg is a partly-sovereign parliamentary republic. The largest city in Baden-Württemberg is the state capital of Stuttgart, followed by Mannheim and Karlsruhe. Other major cities are Freiburg im Breisgau, Heidelberg, Heilbronn, Pforzheim, Reutlingen, Tübingen, and Ulm. What is now Baden-Württemberg was formerly the historical territories of Baden, Prussian Hohenzollern, and Württemberg. Baden-Württemberg became a state of West Germany in April 1952 by the merger of Württemberg-Baden, South Baden, and Württemberg-Hohenzollern. The ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Deficit Spending
Within the budgetary process, deficit spending is the amount by which spending exceeds revenue over a particular period of time, also called simply deficit, or budget deficit; the opposite of budget surplus. The term may be applied to the budget of a government, private company, or individual. Government deficit spending was first identified as a necessary economic tool by John Maynard Keynes in the wake of the Great Depression. It is a central point of controversy in economics, as discussed below. Controversy Government deficit spending is a central point of controversy in economics, with prominent economists holding differing views. The mainstream economics position is that deficit spending is desirable and necessary as part of countercyclical fiscal policy, but that there should not be a structural deficit (i.e., permanent deficit): The government should run deficits during recessions to compensate for the shortfall in aggregate demand, but should run surpluses in boom ... [...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] |
Economist
An economist is a professional and practitioner in the social sciences, social science discipline of economics. The individual may also study, develop, and apply theories and concepts from economics and write about economic policy. Within this field there are many sub-fields, ranging from the broad philosophy, philosophical theory, theories to the focused study of minutiae within specific Market (economics), markets, macroeconomics, macroeconomic analysis, microeconomics, microeconomic analysis or financial statement analysis, involving analytical methods and tools such as econometrics, statistics, Computational economics, economics computational models, financial economics, mathematical finance and mathematical economics. Professions Economists work in many fields including academia, government and in the private sector, where they may also "study data and statistics in order to spot trends in economic activity, economic confidence levels, and consumer attitudes. They assess ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
