Generally, Democrats do not increase military spending, and Republicans do not raise welfare payments. Mostly, ruling politicians stick to the manifesto of their party. The current paper provides a theoretical explanation for this phenomenonthat does not assume politicians or voters to be...

Pan-Asianism in Japanese history has not received much scholarly attention so far. Indeed, as some scholars have pointed out (Beasley 1987a), it is questionable whether the notion of an ideology that only existed as a loose set of ideas and, moreover, had its foundations in European concepts,...

Economics has always had two connected faces in its Western tradition. In Adam Smith's eighteenth century, as in John Stuart Mill's nineteenth, these might be described as the science of political economy and the art of economic governance. The former aimed to describe the workings of the...

The presence of classical architectural features in modernWestern architecture shows that knowledge from ancient timeswas travelling through both space and time. Yet despite surfacesimilarities, the architecture of revival was very different to that ofantiquity. The classicistic architecture of...

So läuft es mit vielen Worten aus der Vitrine der schönen Werte. Da niemand sein Partikularinteressemit diesem selbst begründet, sondern mit dem Allgemeinen, Guten und von allen alslegitim Erachteten, unterliegen die Gutworte samt ihren Schöninhalten einem schnellen moralischenVerschleiß....

Since the late 1980s slogans like ‘use it or lose it’ or ‘conservation through sustainable use’ emphasized the economic use of wildlife for conservation and rural development. In addition, a stronger involvement of local communities instead of displacement and curtailing of their access...

We investigate the pricing of convertible bonds on the French convertible bond market using dailymarket prices for a period of 18 months. Instead of a firm-value model as used in previous studies, weuse a stock-based binomial-tree model with exogenous credit risk that accounts for all...