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Consumption

(352 words)

Author(s): Bayer, Stefan
[German Version] Income is consumed by individuals, saved, or paid in taxes. The state also spends a portion of its income – in addition to investments, transfers, and subsidies – for consumer products. Consumption refers to all activities by private economic parties that serve the immediate satisfaction of needs. State consumption is entered into the gross national product under the key word “consumption by the state” (expenditures by the s…

Sustainability

(258 words)

Author(s): Bayer, Stefan
[German Version] in general means permanence or durability. In an environmental context (Environment/Ecology), the terms sustainability and sustainable development are generally used synonymously, although different meanings lie below the surface: sustainability characterizes a present state (static population size), whereas sustainable development refers to a process (dynamic flow). The most generally accepted definition of sustainable development appears in the Brundtland report: it is “ . . . development that meets the needs of the…

Income

(341 words)

Author(s): Bayer, Stefan
[German Version] originates in two ways in the process of production. Producers obtain income through the sale of goods and services at market prices. Households earn income through the application of the factors of production, labor, capital, and property. The sum of all income produced in a period comprises the national income. The source aspect of income contrasts with its usage aspect: income can be either consumed or saved. Saving implies interest income in the subsequent periods. The distrib…

Multinational Corporations

(351 words)

Author(s): Bayer, Stefan
[German Version] are autonomous decision-making and trading entities in the economy that bring together several legally independent and dependent corporations and businesses at home and abroad. Such concerns are founded, for example, on the basis of a large share of capital, on voting rights, on personal union in the administration or the board of directors. In a merger, by contrast, the uniting corporations and businesses lose their economic independence. The following reasons for the creation of multinational corporations may be listed: economic (such as benefi…

Zins

(3,316 words)

Author(s): Grundmann, Stefan | Bayer, Stefan | Schneider, Helmuth | Kessler, Rainer | Strohm, Christoph | Et al.
[English Version] I. Zum BegriffDer Begriff Z. geht zurück auf census (lat. Steuerkataster). Konzeptuell dem heutigen Z. vergleichbar sind jedoch erst die ma. censuales oder censuarii, (anfangs noch abhängige) »Zinsleute«, die dem Herrn für die Nutzung von Land periodisch Abgaben entrichteten. Der Z. mochte hier noch immer eine (hoheitliche) Abgabe sein, entscheidend war jetzt jedoch erstmals und blieb seitdem: die Zahlung für die Nutzungsüberlassung, typischerweise periodisch, stets nutzungszeitab…

Interest

(3,846 words)

Author(s): Grundmann, Stefan | Bayer, Stefan | Schneider, Helmuth | Kessler, Rainer | Strohm, Christoph | Et al.
[German Version] I. Concept – II. Legal Aspects – III. Economics – IV. Non-Christian Antiquity – V. Bible – VI. Christianity – VII. Judaism – VIII. Islam I. Concept Interest is payment in exchange for a right of use or exploitation, typically on a temporary basis and always agreed for a fixed period of time. Money later gained increasing importance as an object of lending and now occupies a dominant position, although other items or rights remain possible as objects of lending, as for example rent. In economics (see III below), this mutual commitment between the conferral…
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