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Response to a review of voting theory for democracy, in the light of the economic crisis and the role of mathematicians

Colignatus, Thomas - Volkswirtschaftliche Fakultät, … - 2011

welfare theory and since then mathematicians have been damaging democracy. My book Voting Theory for Democracy (VTFD) tries to …Economic theory needs a stronger defence against unwise application of mathematics. Mathematicians are trained for … pupils and students, in finance by neglecting real world risks that contribute to a world crisis, or in voting theory where …

Persistent link: https://www.econbiz.de/10009367967

Arrow’s Impossibility Theorem and the distinction between Voting and Deciding

Colignatus, Thomas - Volkswirtschaftliche Fakultät, … - 2011

Arrow’s Impossibility Theorem in social choice finds different interpretations. Bordes-Tideman (1991) and Tideman (2006) suggest that collective rationality would be an illusion and that practical voting procedures do not tend to require completeness or transitivity. Colignatus (1990 and 2011)...

Persistent link: https://www.econbiz.de/10009368469

Consumer durables as investments that can help us out of the current economic crisis

Colignatus, Thomas - Volkswirtschaftliche Fakultät, … - 2009

consumer durables are investments too, (4) to highlight how such durables fit into the macro-economic theory of slumps, (5) to …

Persistent link: https://www.econbiz.de/10005836404

Conditions for turning the ex ante risk premium into an ex post redemption for EU government debt

Colignatus, Thomas - Volkswirtschaftliche Fakultät, … - 2011

Basel III classifies government debt as risk free while actual interest rates in the European Union (EU) show large differences not only because of liquidity but mainly because of the risk of default, as also reflected in credit default swaps. Curiously such debt defaults may not happen so that...

Persistent link: https://www.econbiz.de/10009372590

High Noon at the EU corral. An economic plan for Europe, September 2011

Colignatus, Thomas - Volkswirtschaftliche Fakultät, … - 2011

The 2007+ credit crunch and economic crisis put European governments in severe debt, with talk about a Greek partial default. It also put the European banks into a zombie condition, while under Basel III the capital requirement rises from 8% to 10.5% (which requirement does not cover public debt...

Persistent link: https://www.econbiz.de/10009294940

Money as gold versus money as water

Colignatus, Thomas - Volkswirtschaftliche Fakultät, … - 2013

The rules of the Eurozone cause the euro to function as the gold standard. The US economy performs better in some respects, partly because of the advantages of fiat money. The treaty on the EMU has to be adapted in order not to become dependent upon current ad hoc measures, with the loss of...

Persistent link: https://www.econbiz.de/10011107257

Cause and cure of the crisis

Colignatus, Thomas - Volkswirtschaftliche Fakultät, … - 2014

The welfare state was created after 1950 with counterproductive mechanisms and this caused high inflation and high unemployment and stagnating growth by 1970, called stagflation. Since 1970 governments redressed the welfare state but did not succeed in finding workable mechanisms. They rather...

Persistent link: https://www.econbiz.de/10011108214

Economics as victim between lawyers and mathematics: An explanation for the tax credit, Bulgarian potential fraud, European unemployment and the economic crisis

Colignatus, Thomas - Volkswirtschaftliche Fakultät, … - 2013

(1) The basic problem in OECD countries is the tax void. (2) A tax system with an exemption is more transparant than a system with a tax credit. (3) Exemption should be at the level of the net minimum wage so that such workers can work at net = gross. (4) A tax credit is a sufficient but not a...

Persistent link: https://www.econbiz.de/10011109700

The crisis and the raison d’être and prospect for the UK office for budget responsibility versus an economic supreme Court

Colignatus, Thomas - Volkswirtschaftliche Fakultät, … - 2011

small update of my 2005 book “Definition & Reality in the General Theory of Political Economy” (DRGTPE) with respect to the …

Persistent link: https://www.econbiz.de/10008784953

Elegance with substance

Colignatus, Thomas - Volkswirtschaftliche Fakultät, … - 2009

possible in logic and voting theory, with consequences for civic discourse and democracy, where the inspiration for the … mathematics itself, on logic, voting theory, trigonometry and calculus. The latter two improvements directly originate from a … of economic theory helps to understand that the markets for education and ideas tend to be characterized by monopolistic …

Persistent link: https://www.econbiz.de/10004980386