Examines the social aspects of the compatibility of public academic education with the principles of a free society. Discusses state education with regard to “equal treatment for all” and the question of who will benefit from such treatment.

Examines the social aspects of the compatibility of public academic education with the principles of a free society. Discusses state education with regard to “equal treatment for all” and the question of who will benefit from such treatment.

The quite difficult task of comparing Hayek's and Schmoller's concept of social policy can only be attempted by confining the discussion to the dominant and basic principles of their prevailing ideas. The reasons are manifold. Just one of them for instance is that Schmoller, as far as I can see,...

The paper presents closed-form Delta and Gamma hedges for an- nuities and death assurances, in the presence of both longevity and interest-rate risk. Longevity risk is modelled through an extension of the classical Gompertz law, while interest rate risk is modelled via an Hull-and-White process....