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Archive for 24. Oktober 2016

Dr. Zocker und Mr. Sparefroh im Alpenland

Posted by hkarner - 24. Oktober 2016

24.10.2016 | 19:02 | Josef Urschitz (Die Presse)urschitz

Beim Umgang mit Geld sind die Österreicher ein bisschen schizophren.

Österreicher sind beim Umgang mit Geld extrem risikoavers, sagt die Notenbank: Sie legen das, was ihnen vom schrumpfenden Realeinkommen übrig bleibt, überwiegend aufs real negativ verzinste Sparbuch. Nach dem alten Beamtenmotto „Am Ersten nix, am Letzten nix, das aber fix“.

Seltsam: Auf der anderen Seite sind die Österreicher wieder extrem risikobereite Zocker: Sie haben etwa, bevor ihnen das von der Nationalbank abgedreht wurde, weit überproportional Fremdwährungskredite genommen, also eine wüste, langfristige Doppelspekulation auf Währungen und Zinsen betrieben. Und jetzt ist der Anteil an variabel verzinsten Immobilienkrediten mehr als doppelt so hoch wie im Europa-Schnitt. Also eine wilde, langfristige Zinsspekulation ohne Netz. Den Rest des Beitrags lesen »

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Aufstieg und Niedergang am Beispiel Deutschlands und der Vereinigten Staaten

Posted by hkarner - 24. Oktober 2016

Von Gero Jenner (aktualisierte JennerVersion:  http://www.gerojenner.com/gerojenner.com/Aufstieg_und_Niedergang_am_Beispiel_Deutschlands_und_der_Vereinigten_Staaten.html)

Aufstieg:

Das 19. Jahrhundert gehörte Deutschland, es war die Zeit eines unglaublichen Aufstiegs. “In 1785 there were 1,225 periodicals published compared with 260 in France. In 1900 Germany had 4,221 newspapers. France roughly 3,000 (and Russia 125). In the early nineteenth century, when England had just four universities, Germany had more than fifty... Germany took the lead in the establishment of scientific societies in the early nineteenth century… and [German] became the leading language of scientific scholarship… In 1900 more books were published annually in German than in any other country in the world. In 1900 illiteracy rates in Germany were 0.5 percent; in Britain they were 1 percent and in France 4 percent.”

“Prussia enforced school attendance for children between the ages of seven and fourteen from the 1820s (in Britain children were not compelled to go to school until 1880) and by the 1890s had two-and-a-half times as many university students in proportion to population as did England… illiteracy in the German army was much lower than among Italian or Austro-Hungarian soldiers, 1 in 1,000, as opposed to 330 in 1,000 among Italians, and 68 in 1,000 among Austro-Hungarians. Den Rest des Beitrags lesen »

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Free Trade in Chains

Posted by hkarner - 24. Oktober 2016

Photo of Paola Subacchi

Paola Subacchi

Paola Subacchi is Research Director of International Economics at Chatham House and Professor of Economics at the University of Bologna. Her forthcoming book, The People’s Money: How China is Building an International Currency, will be published in November by Columbia University Press.

OCT 22, 2016

LONDON – At the beginning of the new millennium, when the world was deemed “flat” because of its economic openness, international trade was a subject confined to the business pages and discussions among technocrats. Now, trade tops the political agenda in much of the world; in the advanced economies, it is populists’ favorite horse to whip. Even politicians who once embraced trade deals are now disavowing them.

In Britain, as a result of the Brexit vote, debates about the merits of trade with the European Union’s single market versus trade under World Trade Organization rules are now heard almost nightly. In the United States, both presidential candidates have made opposition to mega-regional trade deals – specifically, the 12-country Trans-Pacific Partnership (TPP) and the Transatlantic Trade and Investment Partnership (TTIP) with the European Union – central to their campaigns. Den Rest des Beitrags lesen »

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The Free-Trade Miracle

Posted by hkarner - 24. Oktober 2016

Photo of Bjørn Lomborg

Bjørn Lomborg

Bjørn Lomborg, a visiting professor at the Copenhagen Business School, is Director of the Copenhagen Consensus Center, which seeks to study environmental problems and solutions using the best available analytical methods. He is the author of The Skeptical Environmentalist, Cool It, How to Spend $75 Billion to Make the World a Better Place and The Nobel Laureates‘ Guide to the Smartest Targets for the World, and was named one of Time magazine’s 100 most influential people in 2004.

OCT 21, 2016 Project Syndicate

PRAGUE – Global free trade provides the greatest opportunity to improve human welfare over the next decade and a half. It has already helped lift more than a billion people out of poverty over the past quarter-century. Lowering trade barriers even more could double average incomes in the poorest parts of the world over the next 15 years.

Yes, there are costs to free trade that must be better addressed; but the costs are vastly outweighed by the benefits. Yet, in rich countries today, the mood has turned against free trade. That is a tragedy.

Nowhere is opposition to free trade louder than in the United States. Regardless of who wins next month’s presidential election, a free-trade skeptic will occupy the White House. Both Hillary Clinton and Donald Trump oppose the biggest trade initiative launched by President Barack Obama’s administration – the Trans-Pacific Partnership (TPP) with 11 other Pacific Rim countries – and both would revisit the North American Free Trade Agreement (NAFTA), which has been in force since 1994. Den Rest des Beitrags lesen »

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Josef Moser: Reformen blähen Apparat oft auf

Posted by hkarner - 24. Oktober 2016

22.10.2016 | 18:04 | von Matthias Auer (Die Presse)

moser-ccViele Reformen in Österreich schaffen nur teure Strukturen und ändern wenig, sagt Josef Moser, der frühere Rechnungshofpräsident. Auch eine Steuersenkung allein löse kaum etwas.

Als Sie den Rechnungshof verlassen haben, haben Sie gesagt: Die größte Wachstumsbremse ist die getrübte Stimmung im Land. Wir dachten, es sei die Reformverweigerung.

Josef Moser: Nein, Österreich macht Reformen, lässt aber die wichtigsten aus. Niemand erklärt den Menschen, warum ihr Leben besser werden soll, wenn etwas geändert wird. Stattdessen bleibt das Gefühl beim Bürger, nach jeder Reform weniger zu haben. Das schafft diese schlechte Stimmung, die ich meine. Reformen gelingen nur, wenn man den Menschen glaubhaft versichern kann, dass es ein echtes Konzept gibt.

 

Aber kann die Politik ehrlich sagen, dass sie dieses Konzept hat?

Leider nein. Bisher wagt sich keine Regierung daran, die historisch überbordenden Strukturen im Land zu ändern. Stattdessen schafft jede Reform immer neue Bürokratie. Es ist an der Zeit, endlich damit aufzuhören, einfach nur Geld auszugeben, und zu beginnen, auch darauf zu achten, was dieses Geld bewirkt. Den Rest des Beitrags lesen »

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Hours worked in Europe and the US: New data, new answers

Posted by hkarner - 24. Oktober 2016

Alexander Bick, Bettina Brüggemann, Nicola Fuchs-Schündeln, voxeu

Assistant Professor of Economics, W.P. Carey School of Business, Arizona State University

Assistant Professor of Economics, McMaster University

Professor for Macroeconomics and Development, Goethe University Frankfurt and CEPR Research Fellow

22 October 2016

It is a well-documented fact that aggregate hours worked per person are lower in Europe than in the US. This large difference in hours has a bearing on many policy-relevant issues, such as the measurement of labour productivity (GDP divided by total hours worked) or welfare differences (how much leisure does the average person enjoy) across countries. But what causes the difference? This question has recently sparked an active literature, tracing lower aggregate hours in Europe back to, amongst other things, differences in labour income taxation (e.g. Prescott 2004, Rogerson 2006, Olovsson 2009, McDaniel 2011), institutions (Alesina et al. 2005), and social security systems (Erosa et al 2012, Wallenius 2014, Alonso-Ortiz 2014). Den Rest des Beitrags lesen »

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