Social justice has become a main objective of economic policy and so often dominates efficiency considerations. In the history of economic thoughts the trade off between efficiency and justice has often been discussed but remained an unsolved problem. In using a simple approach of standard...

Social justice has become a main objective of economic policy and so often dominates efficiency considerations. In the history of economic thoughts the trade off between efficiency and justice has often been discussed but remained an unsolved problem. In using a simple approach of standard...

<i> Redistribution and the Efficiency </i> (by Hans Georg Petersen) - ABSTRACT: The trade-off between efficiency and justice is one of the most important political conflicts in democratic societies. However, a clear definition of justice is helpful to come to a social consensus on a quasi-optimal mix...

The paper is based on an individual life-cycle model, which describes the purely economic components of human capital. The present value of human capital is determined by all future income flows, which at the same time constitute the individual as well as the total tax base of a nation....

The breakdown of the financial markets in fall 2007 and the following debt crisis in the EU has produced an enormous mistrust in financial products and the monetary system. The paper describes the background of the crisis induced by functional failures in risk management and the multifold...