Zusammenfassung Preisdestabilisierende Spekulationsblasen haben in einer freien Gesellschaft wichtige Funktionen: Sie ersetzen die fehlende Spekulation eines rationalen wissenschaftlichen Erkenntnisprozesses. Sie beschleunigen den kulturellen Selektions- und Anpassungsprozess und lösen einen...

Summary In his „Anarchy, State, and Utopia“, Robert Nozick tried to justify a minimal state. While his theory is based on economic concepts, economists have as yet paid little attention to it. The use of economics is demonstrated by a reconstruction of Nozick’s arguments in the first part...

Abstract The uncontrolled centralization of competences on the European level is problematic insofar as it does not correspond to the citizens’ preferences. Constitutional constraints can prove essential for the freedom and the welfare of EU citizens. Existing constraints like the subsidiarity...

Abstract Over the past 50 years revenue sharing and intergovernmental grants between the central government and the states have become increasingly important in the Federal Republic of Germany. Although this system is shown to be highly inefficient no serious attempts to reform can be observed...