(1) Sustainability requires learning processes both on the individual and on the societal level. Not only individual rule complience, but also the social processes of rule definition and rule implementation have to be re-adjusted in order to foster sustainable development on a world-wide scale....

Zusammenfassung Dieser Beitrag interpretiert das moralische Anliegen einer wirksamen Bekämpfung von Korruption als ordnungspolitisches Problem. Er bestimmt Korruption (a) als Mißbrauch einer Vertrauensbeziehung zwischen Prinzipal und Agent und (b) als Geheimhaltungsdelikt: Die an der...

An evaluation of 35 research papers into the impact of financial speculation on agricultural commodities markets has revealed: The vast majority of studies did not confirm the concerns that prevail in public discourse. The current state of knowledge indicates only a few, and weak, findings that...

Eine Auswertung von 35 Forschungsarbeiten über den Einfluss der Finanzspekulation auf die Agrarrohstoffmärkte gelangt zu folgenden Ergebnissen: Die weit überwiegende Mehrheit der Studien kann die in der öffentlichen Diskussion vorherrschenden Befürchtungen nicht bestätigen. Gemäß...

For quite some time long-only index funds have been suspected of being responsible for price increases in agricultural futures markets. This suspicion has prompted demands to drastically limit long-only index funds' scope of activity. Such demands and their underlying diagnoses, however,...

Long-only-Indexfonds stehen seit geraumer Zeit unter Verdacht, für die Preisanstiege an landwirtschaftlichen Warenterminmärkten verantwortlich zu sein. Hieraus wird die Forderung abgleitet, den Aktivitätsradius dieser Indexfonds drastisch einzuschränken. Allerdings stehen solche Forderungen...

This short essay on financial speculation with agricultural commodities offers (1) a survey on the real economy factors that caused recent hunger crises, (2) an overview of the academic research on the impact of index-based financial speculation on agricultural markets, and (3) a discussion of...

We argue that self-binding rules in the context of the stabilisation of the eurozone — both monetary and fiscal — are important for a successful long-term European economic policy. The present loss of reputation due to the breaking of fundamental rules such as the no-bailout clause generates...

Workers in Asian factories producing for Western markets suffer under inhumane working conditions. Suicides at Chinese suppliers of computer manufacturers and a fire in a Bangladesh garment factory recently drew public attention to this problem. But would workers in developing countries really...