Unconventional Consideration Manners of the Economic Crisis III What is to be done as a solution for the crisis?



Uwe Petersen


Consideration Manners
of the Economic Crisis III

What is to be done
as a solution for the crisis?



 ISBN 978-3-631-64314-3

E-ISBN 978-3-653-03269-7




2013 Peter Lang Frankfurt am Main






A. The axiomatic and economic-ethical bases of our today’s finance-capitalistic economic system and their relation to the sense of economy

I. Economy as an order enclosing the people

II. Economy as a remedial process escorted by God

III. The European economy as a synthesis of antique and Jewish/Christian understanding of economy

IV. The liberal capitalistic economic ethics

V. Maximisation of strategic and minimisation of economic-ethical behaviour in the Capital Market

VI. Economic-ethical necessity to overcome selfish economic behaviour in favour of an identification with the common welfare

B. Necessary economic measures to overcome the global financial and economic crisis

I. The restriction and reduction of public indebtedness
1. Improvement of public finances by depreciation of the public debts through inflation

2. State bankruptcy or devaluation of the debts to stabilise the public finances

3. Restriction of state expenses in order to decrease indebtedness and repay debts

4. Increase of public revenues to stabilise the public finances

4.1 Taxation of the economic activities to avoid further indebtedness

4.1.1 Sales Tax rise to avoid further indebtedness

4.1.2 Income Tax rise to avoid further indebtedness

4. 2 Taxation of existing stock values to avoid further indebtedness

4.2.1 Death Taxes to avoid further indebtedness

4.2.2 Property Tax to avoid further indebtedness

4.2.3 Balancing circulating Government stocks with the national debts through property delivery

II. The removal of chronically active and passive imbalances of trade and services

1. The change of the national economies by the technical progress and its influence on the foreign trade balances

1.1 The impact of technical progress on the developing countries and their foreign trade balances and necessary economic measures for the development of the countries

1.1.1 The deterioration of foreign trade balances of developing countries in trade with industrial countries, and necessary economic measures to develop the countries

1.1.2 What can developing countries do to remove the chronically passive trade balances ?

1.2 The turn of a chronically passive into a chronically active foreign trade balance by a successful Mercantilist economic policy e.g. China, and the necessary measures to balance the trade balance

1.3 The foreign trade balances of industrial countries by tendency becoming passive in the course of the industrialisation of developing countries

1.4 Countries such as Germany and Japan relatively resistant against deindustrialisation

2. The change of the national economies by capital accumulation and capital transactions, and their impact on the foreign trade balances

2.1 The foreign trade balance becoming passive by capital imports e.g. the USA

2.1.1 How can the imbalance between the chronically passive trade balance of the USA and the chronically active trade balances of their believers: China, Japan and Germany, be equalised?


2.2 The activation of the foreign trade balance by capital exports e.g. Germany and Japan

2.2.1 The activation of the German foreign trade balance by capital exports and necessary measures to equalise the balance

2.2.2 The activation of the trade balance by capital exports and the necessary measures to compensate the Japanese foreign trade balance

2.3 Foreign currency speculations and their impact on the trade balances

III. The renovation of the Capital Market

1. Reduction of the investment pressure on the Capital Market

2. Discharge of the Capital Market from trade with State loans

3. Ban or licensing and taxation of betting games

4. The Slowdown of Capital Market Transactions by Transaction Taxes

IV. The renovation of the Money Market

1. Separation of the Bank System in Investment Banks and Commercial Banks

2. Refinancing at the Central Banks should be restricted to commercial banks

3. Monetary supply of the economy by direct open market policy of the Central Banks without mediation of private banks

4. Liberation of the states from the stranglehold of the markets by restriction of the public indebtedness on Central Bank loans as means of the monetary supply of the economy

4.1 Which measures are necessary, that the economy does not collapse in the process of this conversion?

5. Selected sale of gold reserves of the Central Banks to buy Government stocks

V. The growing unequal distribution of property and income and their impact on the economic welfare and social peace

>Wealth and Justice

C. From the liberal to the social-liberal economic system

I. Liberal economic system as a base of our standard of living and its limits

1. To what extent the does the market guarantees the whole welfare?

2. How sustainable are the liberal economic-theoretical definitions of producing and consuming and saving and investing?

II. The role of the State in society and market economy

III. Mediation of private and state duties by self-administering institutions

1. Society-related private initiatives

1.1 Parties of Collective Agreements as regulators of the labour market

1.2 Economic Chambers

1.3 Associations authorised with public activities

2. Corporations and Institutions of Public Law

2.1 The public broadcasters in Germany as a model for institutions or corporations of public law serving social interests

2.2 The further development of already existing institutions and corporations of public Law

2.2.1 Social Security

2.2 Schools and Kindergartens

3. Infrastructure companies

D. Summary
1. Economic activity to ensure the means of subsistence

2. Estate-related economies

3. Economic acting as profession

4. Capitalistic acting


In the beginning of 2011 „Unkonventionelle Betrachtungsweisen zur Wirtschaftskrise. Von Haien, Heuschrecken und anderem Getier[Unconventional Consideration Manners of the Economic Crisis I. From Sharks, Grasshoppers and other Creatures] was published which explained aphoristically succinct aspects of the economic crisis. At the end of August, 2011, the second volume with the subtitle „Illnesses of the Economic System and Possibilities and Limits of their Healing“ appeared in German, which analyses the traditional measures of the economic policy and exemplarily describes the economic case history of single countries. The result of these analyses was that the conventional economic policies only cured symptoms but aggravated even the fragility of the economic system. Therefore in this book (a little modified and actualised translation of the third volume published in German in 2012) unconventional solution possibilities of the financial and economic crisis are indicated, and are backed up ethically. The treatises in this volume are clear for themselves, and at the same time give an overview about the crisis problems all together, and that’s why it seemed to be justified to translate only this volume in English.

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