Economics and ethics: 1 The microeconomic basis : with 7 tables
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| Main Author: | |
|---|---|
| Format: | Book |
| Language: | English |
| Published: |
Berlin [u.a.]
Springer
2003
|
| Online Access: | Inhaltsverzeichnis |
| Physical Description: | XV, 339 S. graph. Darst. |
| ISBN: | 3540443185 |
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| 245 | 1 | 0 | |a Economics and ethics |n 1 |p The microeconomic basis : with 7 tables |c Wilhelm E. Krelle |
| 264 | 1 | |a Berlin [u.a.] |b Springer |c 2003 | |
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Record in the Search Index
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| adam_text | Table of Contents
Preface V
Table of Contents IX
List of Figures XIII
List of Tables XV
1 The Theory of the Household 1
1.1 Introduction 1
1.2 Classification of Decisions and of Principles to Rate Them . . 2
1.3 Private Decisions of Moral Importance 3
1.4 Moral Standards and the Determination of Moral
Evaluations of a Decision 11
1.5 A Digression: Explanation of the Transfer Probabilities ... 18
1.6 The Length of the Economic Horizon 20
1.7 The Relative Frequencies of Personal Decisions 20
1.8 Uncertainty on the Consequences of Decisions 22
1.9 Evaluations in Case of Interdependent Decisions 25
1.10 The General Theory of Household Behavior 31
1.11 Some Further Remarks on Household Theory 38
1.12 Entrepreneurship, Confidence and Trustworthiness 49
1.13 Income and Expenditure of a Household.
Some Definitional Relations 51
Annex to Section 1.13: Some Details on Income and
Expenditure of a Household 52
1.14 Normal Economic Decisions of Private Households
and the Budget Constraint 55
Annex to Section 1.14: Some Details on Normal Economic
Decisions of Private Households and on the Budget
Constraint 56
1.15 Consumption and Saving of Private Households 62
1.16 Morality and Criminality in a Society and Their Effect
on the Economy 68
1.17 Private Valuations of Collective Issues 70
1.18 Transition to the Next Period: Change of Issues 72
1.19 Collective Decisions 73
1.20 Determination of the Leading Group and of the Influence
of Each Person within the Group 75
1.21 Transition to the Next Period: Change of Government .... 78
1.22 Digression 1: The Interaction of the Spiritual Domain
and Economics 81
X Table of Contents
1.23 Digression 2: The Connection to Sociology and
Political Science 85
1.24 The Direct Influence of Ethics on Normal Economic
Decisions. A Short Review and Preview 87
1.25 The Conditional Sales or Purchases of Capital Stock
and Securities 88
1.26 A Digression: Fixing of the Rates by the Brokers 108
1.27 The Assignment of Households to Decision Situations .... 109
1.28 The Household Demand as a Function of the Situation
of the Economy and of the Characteristics of the Household . Ill
1.29 A Final Remark: Convergence of Evaluations 116
1.30 Epilogue: The Importance of Humanities and Their Relation
to the Natural Sciences 117
References 127
2 The Theory of the Firm 133
2.1 Introduction 133
2.2 The Production Department: Production,
Capital Equipment, and Replacement 136
2.3 The Production Department: Secondary Inputs 144
2.4 The Production Department: Labor Input 145
2.5 The Handbook of Production 148
2.6 The Inventory Department 149
2.7 The Administration Department: The Organization of a Firm 150
2.8 Some Remarks on Other Characteristics of the
Initial Situation of a Firm 160
2.9 The Main Decisions of a Firm Concerning the Real Side . . . 1G4
2.10 The Initial Situation of a Firm: The Monetary Side 165
2.11 The Possible Decisions of a Firm Concerning the
Monetary Sector 169
2.12 Transition of a Firm from One Decision Point to the Next:
The Choice Criteria 169
2.13 A Short Look into the Literature 1?1
References 172
3 The Theory of the Banking System 175
3.1 Introductory Remarks 175
3.2 Some Definitions and Relations. A Note 178
3.3 The Balance Sheet of a Commercial Bank 184
3.4 The Profit and Loss Account of a Commercial Bank 187
3.5 The Organization of a Commercial Bank 189
3.6 The Balance Sheet of the Central Bank 194
3.7 The Decision Variables and the Principles of Decision
of the Central Bank 195
Table of Contents XI
3.8 The Decision Variables and the Principles of Decision
of a Commercial Bank 207
3.9 The Secondary Inputs of a Commercial Bank 216
3.10 A Digression: Dubious Effectiveness of the Discount Policy
of the Central Bank 216
3.11 On the Near Constancy of Some Coefficients in the
Monetary Sector of the Economy 218
3.12 A Digression: Some Consequences of the Near Constancy of
Some Coefficients in the Monetary Sector of the Economy;
a Simplified Model 222
3.13 A Final Remark 223
References 223
4 The Educational System, Development and Research 225
4.1 Some Basic Concepts 225
4.2 Natural Endowments and the School System 227
4.3 Learning by Doing 239
4.4 Development, Research and Technical Progress 242
4.5 Some Remarks on Other Explanations of Technical Progress 251
References 255
5 The Theory of the Government 261
5.1 Introduction 261
5.2 Digression 1: An Overview on the Development of Technology
and Constitutions in the Last Millennium 262
5.3 Digression 2: An Overview on the Relations of the Status
of Agriculture and Handicraft and the Constitutions of Feu¬
dalism and Absolutism 268
5.4 Digression 3: An Overview on the Relations of the Status
of Industrialism and on the Constitutions of Absolutism and
Democracy 276
5.5 The Theory of the Government:
Some Definitions and Assumptions 281
5.6 Transition to the Next Period: Decisions of the Government
Concerning the Real Side 289
5.7 The Government Budget 296
5.8 Transition to the Next Period: Decisions of the Government
Concerning the Monetary Side 297
5.9 Determination of the Leading Group : Election of the
Members of the Government 298
5.10 Some Notes on the Approach Suggested Here in
Comparison to Other Approaches 302
References 305
XII Table of Contents
6 The Determination of the Wage Rates 307
6.1 Introduction 307
6.2 Some Basic Definitions and Assumptions 309
6.3 The Determination of the Time Shape of the Trade Unions
Demands for a Wage Increase 315
6.4 Determination of the Time Shape of the Employers
Concessions for the Wage Levels 318
6.5 Wage Determination: The Wage Rates Offered by the
Employers and Demanded by the Trade Unions Are Equal . 319
6.6 Criticism of Wage Determination by Agreement of Trade
Unions and Employer Associations. A Digression 320
6.7 A Short Look into the Literature 324
References 326
7 The Theory of the Price of Securities
and of the Interest Rates 327
7.1 Introduction 327
7.2 The Price of Securities. A Theory of the Exchange 327
7.3 The Theory of the Determination of the Interest Rates ... 332
7.4 The Financial Structure of a Commercial Bank 335
7.5 A Short Look into the Literature 337
References 338
A Final Remark 341
List of Figures
1.1 Distribution of Economic Foresight in the Society 21
1.2 Probabilities of Choosing VlX or Vt2 23
1.3 Evaluation of Actions and of the Consequences of Actions 34
1.4 Endowments and Capabilities of a Person 40
1.5 The Force of Imitation as a Function of the Deviation from
Average Behavior 48
1.6 Net Income Y™f (Including Transfer Receipts) divided
in Consumption C and Saving S; the General Shape 59
1.7 General Outline: Household Decisions, Use of Income.
The Case of Known Asset Prices 63
1.8 Consumption Expenditures; the General Shape 64
1.9 Possible Party Lines 79
1.10 Change of Party Lines of Parties P2, ¦ ¦ ¦, P4 after Pi
has won Elections 80
1.11 Household Decisions. Use of Income.
The Case of Unknown Asset Prices 90
1.12 Some Details: Household Decisions, Use of Income.
The Case of Known Asset Prices 92
1.13 Prices of Different Stocks at the Frankfurt Exchange 93 f.
1.14 Demand of an Asset (AW positive) or Supply of that Asset
(AW negative) Conditioned on the Price v of that Asset.
Chasing the Trend Strategy, Tendencies 98
1.15 Demand and Supply of an Asset in Case of a Linear Relation
between the Amount of the Asset Demanded or Supplied and the
Deviation from the Supposed Long Term Trend Price of the Asset 99
1.16 The Price Effect of Additional Supply or Demand of Shares .... 105
1.17 Fixing of the price v* of a security by a broker 109
1.18 Several Prices v of a Security where Demand Equals Supply ... 110
1.19 Definition of the External Situation SIT which influences the
Demand and Supply Behavior of Households 112
1.20 Mill, households with income between 5000 and 7000 DM
and 3 children or more 116
1.21 The General Approach 120
2.1 The output coefficient a_r as a function of the control span st and
the size Noof the staff, other variables kept constant 157
2.2 The labor input coefficient as a function of the control span s
and of the size N of the staff, other variables kept constant .... 158
2.3 The size no of the labor force of rank zero as a function of the
control span Si and of the size of the staff Nj 159
2.4 Binomial Probability Distributions to Choose from: an Example . 162
XIV List of Figures
3.1 Employment in the portfolio department 192
3.2 Value of assets as function of the employment in the portfolio
department 193
3.3 Decision situation of the managers of the Central Bank 201
3.4 The average real net profits g as a function of the initial real
investment 7o, and the influence of the time discount rate rttme
on the size Iq of investment 206
3.5 Employment in the Portfolio Department of a commercial bank i . 210
3.6 Limits of the rate of interest a bank may charge 212
3.7 Almost no Effect of the Discount Policy on Investment 217
4.1 Endowments and Knowledge of Person i in field £, £ = 1,..., z,
normalized from 0 to 100. Person i is only weakly gifted for fields
taught at the university level 231
4.2 as Fig. 4.1 but drawn for a person j which is highly gifted for
natural sciences at the university level 232
4.3 Efficiency of Teaching as a Function of the Number of Pupils
per Teacher 233
4.4 Limit of Knowledge W Attainable by Pupil 1 and W2 by Pupil 2
and the Increase of Knowledge at School 234
4.5 The same performance W of a student (say: W = 0.8 • W*,
W* = total knowledge in this field, normalized to 100) is
evaluated differently by teacher 1 and teacher 2 235
4.6 Distribution of marks of students leaving the educational system
a G {e.sch.,h.sch.,u.sch.} 236
4.7 Basis of a Decision of a Firm on the RSzD Program 243
4.8 Natural endowment of gifts: ratio of highly gifted persons 246
5.1 Historical Development of Technologies and Constitutions 269
5.2a Agricultural Production Function: Land taken as constant,
Population (= POP) variable 272
5.2b Agricultural Production Function: Population taken as constant,
land (= LAND) variable 272
5.3 Initial Condition of a Feudal System 274
5.4 Evaluation of alternative decisions for the most urgent issues
1,..., 7 by three members of the group 292
5.5 Determination of the most urgent problem by the members
of the leading group 302
6.1 Wage demands of the trade unions in the course of time
during the bargaining process (only the integer values of time
are relevant) 310
List of Tables XV
6.2 Offers of increase of the wage rate made by the employers
in the course of time in case of a strike and in case of no strike . . 311
6.3 The financial situation of firms 1,..., M* (involved in the wage
dispute), if the strike is extended to the rate a of a normal period 314
6.4 Profits Ili of firms i = 1,..., M* as a function of the wage rate . . 315
6.5 Agreement between trade union and employers: point Pq :
without strike, point Pi : with strike 320
6.6 The case of a smaller wage increase with strike than without it:
Al*0 All 320
7.1 Orders of a customer at an exchange conditioned upon the
price of the security 329
7.2 The orders of all customers at an exchange for buying
or selling a specific security 330
7.3 A simplified version of Fig. 7.2 (see the text) 331
7.4 Change of orders at the broker because of a change of f 333
7.5 Limits of the rates of interest charged by the banks 337
List of Tables
1.1 Decision Table; Private Ethical Problems for Individuals 5
1.2 Evaluations. First example 36
1.3 Evaluation of actions according to criteria 1 and 2 and evaluation
of the consequences according to one criterion. Second example . 37
1.4 Illustration to the Definitions Related to Imitation 46
3.1 The Money Multiplier 222
7.1 Who decides on the monetary items connected with the
banking system? 336
7.2 The Balance Sheet of a Commercial Bank 337
|
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| author | Krelle, Wilhelm 1916-2004 |
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| id | DE-604.BV017493135 |
| illustrated | Illustrated |
| indexdate | 2024-07-09T19:18:41Z |
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| isbn | 3540443185 |
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| spelling | Krelle, Wilhelm 1916-2004 Verfasser (DE-588)118566539 aut Economics and ethics 1 The microeconomic basis : with 7 tables Wilhelm E. Krelle Berlin [u.a.] Springer 2003 XV, 339 S. graph. Darst. txt rdacontent n rdamedia nc rdacarrier (DE-604)BV017493134 1 HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=010538078&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Krelle, Wilhelm 1916-2004 Economics and ethics |
| title | Economics and ethics |
| title_auth | Economics and ethics |
| title_exact_search | Economics and ethics |
| title_full | Economics and ethics 1 The microeconomic basis : with 7 tables Wilhelm E. Krelle |
| title_fullStr | Economics and ethics 1 The microeconomic basis : with 7 tables Wilhelm E. Krelle |
| title_full_unstemmed | Economics and ethics 1 The microeconomic basis : with 7 tables Wilhelm E. Krelle |
| title_short | Economics and ethics |
| title_sort | economics and ethics the microeconomic basis with 7 tables |
| url | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=010538078&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
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