Rezensionen

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Replik

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I. Allgemeine wirstchaftslehre

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IX. Geld und kapital

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“Inflation Accounting” für Österreich

Summary Profit data which are derived from historical cost accounting (which is the dominant accounting method in most countries) are biassed upward when inflation occurs. The reasons for this bias are based on the concept of capital maintenance (in whichever variation) which pervades accounting standards and hold that the surplus of revenue over (historical) cost has to be split into two parts: One has to be set aside by the firms in order to assure reproduction at the previous period's level (going concern assumption) (=fictitious profit) and only the rest is actual profit which can be used for distribution, debt retirement, net investment, tax payments, etc.In this study various capital maintenance concepts are related to the corresponding profit concepts and thus to the corresponding inflation accounting methods. Which profit concept is use depends on what the concept is supposed to measure. A large part of the (very heated) discussion on inflation accounting methods is shown to be due to a confusion about which profit concept is supposed to result from the calculations.This study uses Austrian industry corporation accounts to present various accounting methods and profit concepts with and without inflation accounting. The dominant profit concept in this study attempts to measure thesocial return to total investment. Thus accounting data are adjusted to eliminate inflationary effects in fixed capital, inventories and net monetary capital. The resulting real profit rates show a significant downward trend over the last twenty years, but remain positive even during the recession of 1974/75. When contrasted with a real capital market interest rate, industry profit rates exhibit a significantly better performance.     

Wirtschaftstheoretiker und Wirtschaftsprognose

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The origins of meso economics

The paper starts from Schumpeter’s proposition that entrepreneurs carry out innovations (the micro level), that swarms of followers imitate them (meso) and that, as a consequence, ‘creative destruction’ leads to economic development ‘from within’ (macro). It is argued that Schumpeter’s approach can be developed into a new—more general—micro-meso-macro framework in economics. Center stage is meso. Its essential characteristic is bimodality, meaning that one idea (the generic rule) can be physically actualized by many agents (a population). Ideas can relate to others, and, in this way, meso constitutes a structure component of a ‘deep’ invisible macro structure. Equally, the rule actualization process unfolds over time—modelled in the paper as a meso trajectory with three phases of rule origination, selective adoption and retention—and here meso represents a process component of a visible ‘surface’ structure. The macro measure with a view to the appropriateness of meso components is generic correspondence. At the level of ideas, its measure is order; at that of actual relative adoption frequencies, it is generic equilibrium. Economic development occurs at the deep level as transition from one generic rule to another, inducing a change of order, and, at the surface level, as the new rule is adopted, destroying an old equilibrium and establishing a new one.     

Let's reach all of the market for health administration education: design, development, and delivery issues in distance delivery

Web-based distance learning is an up and coming form of education. Web-based education delivered via a Web browser through the Internet has been found to be less expensive, more efficient, and sometimes more effective than classroom training. In the distance learning environment, the traditional "lecture and chalkboard" classroom pedagogy is completely absent. The virtual classroom becomes an "active learning" environment in which students, while utilizing technology, are able to discuss health administration concepts, analyze cases, work exercises, and discuss and share these interactively with both the instructor and fellow classmates. This method of Health Administration Education encourages students to learn from each other and promotes the open exchange of ideas and experiences. It does not require working students to put their careers on hold while they continue their studies. In this paper, we explore the opportunities and challenges of delivering web-based Health Administration courses via the Internet. Included is a discussion of the design, development, and delivery of a distance learning, web-based Health Administration Education system.     

Functional income distribution,capacity utilization,capital accumulation and productivity growth in Turkey: A post-Kaleckian analysis

The aim of this article is to examine the relation between functional income distribution, capacity utilization, capital accumulation and productivity in Turkey by identifying demand and overall regimes prevalent in the economy. For this purpose, we conducted an empirical analysis using different specifications of the post-Kaleckian model of Hein and Tarassow. This model defines and characterizes an overall regime by endogenizing productivity growth and integrating it into the models in this tradition. Empirical findings show that while the demand regime is wage-led, the overall regime turns out to be unstable in Turkey due to the destabilizing impact of productivity growth. This article contributes to the literature by being the first study that simultaneously identifies the demand and the overall regimes of an economy.