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(294 words)

Author(s): Bayer, Stefan
[English Version] . Grundsätzlich werden Leistungen auf Märkten nach herrschenden Regeln ausgeführt, bezahlt und abgerechnet. In den letzten Jahren nehmen jedoch Leistungen, die im Schatten der legalen Märkte erbracht werden, einen immer größeren Stellenwert ein. Die Sch. umfaßt in einer gängigen Definition somit all diejenigen Tätigkeiten, die im Sinne der volkswirtschaftlichen Gesamtrechnung Wertschöpfung darstellen, aber in den amtlichen Statistiken nicht bzw. nur zum Teil ausgewiesen werden. I…

Pareto, Vilfredo Federico Damaso

(291 words)

Author(s): Bayer, Stefan
[German Version] ( Jul 15, 1848, Paris – Aug 19, 1923, Céligny near Geneva), economist and sociologist, son of a French mother and an Italian father. Pareto had a brilliant understanding of how to bring sociological insights into economics, and ideas from economics into sociology, and how to apply notions from each within the other discipline. In addition, following L. Walras, he further developed economics as a general theory of balance, becoming one of the founders of its current mathematical ba…

Game Theory

(592 words)

Author(s): Bayer, Stefan
[German Version] The subject of game theory is the formally exact analysis of situations of interactive strategic decisions. Characteristic properties of modes of strategic behavior are typically conflicts of interest and/or problems of coordination between the players. For the economy, game theory is an indispensable tool because ¶ almost every situation of economic decision exhibits at least one strategic component. Modern textbooks on game theory distinguish a plethora of different basic types of games – with respect, for example to the nu…

Climate Change

(765 words)

Author(s): Bayer, Stefan
[German Version] In comparison with the pre-industrial world in the middle of the 18th century, the con¶ centration of greenhouse gases in the earth's atmosphere has increased greatly. As a result, some of the earth's heat radiation can no longer escape into space; instead – as in a greenhouse – it is reflected back to earth, leading to an increase in the mean temperature of the earth's surface. The most important greenhouse gas is carbon dioxide (CO2), which is produced primarily by the burning of fossil fuels such as coal, oil, and gas. Other major greenhouse g…


(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…


(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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