267 results
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2. DEMAND FOR SHORT-TERM FOREIGN ASSETS BY THE GERMAN BANKS.
- Author
-
OU, CHARLES C. F.
- Subjects
CAPITAL movements ,FOREIGN assets ,BANKING industry ,BANK assets ,BANK investments - Abstract
The purpose of this paper is to present a case study of this type--the holdings of short-term foreign assets by the German banks. The ratio of short-term foreign asset to the total asset is explained by various yields on alternative assets. In addition, the effect of short-term constraint variable on the adjustment of actual stock to the desired stock of asset holdings is incorporated in the analysis. The variables included perform rather well in explaining the monthly fluctuations of the asset ratios. This paper presents a case study of the international movements of short-term banking funds with the application of the asset portfolio approach which has been so fruitful in the investigation of demand for domestic financial assets. The study demonstrates that when a balance-sheet framework can be clearly defined, the portfolio balance analysis provides a very effective approach to the study of capital flows between countries. The experience of the holding of short-term foreign assets of the German banks is investigated. With the holding of foreign assets treated as one of many assets (and liabilities) in a well-defined balance sheet for the German banks, the portfolio approach is applied with some success. The importance of such variables as total asset holdings (LA), yields on alternative assets (r[sub 1]), and flows of liquid funds (CBM) in affecting the asset holdings is borne out by the results obtained. Some 70 per cent of the fluctuations of the ratios of foreign assets to total liquid assets are explained by the variables r[sub L], r[sub LA[sub d]] - r[sub FA], and CBM/LA[sub t-1]. The estimated coefficients are all significant. The incorporation of variables LA and CBM also helps improve the estimation of interest rate variables, giving us a very satisfactory result for the estimated coefficients for interest rates. The scope of the paper is obviously limited. Those problems such as the need for non-linear equation, the importance of adopting simul... [ABSTRACT FROM AUTHOR]
- Published
- 1972
- Full Text
- View/download PDF
3. THE EFFECT OF CURRENCY REFORM ON GERMAN PUBLISHING.
- Author
-
Dalcher, Laurence P.
- Subjects
MONEY ,PUBLISHING ,WORLD War II ,ECONOMIC reform ,PERIODICALS - Abstract
The article explores the effect of currency reforms on German publishers. During first three post-World War II years, German publishers in the American Zone operated in an environment dominated by three factors. First, money was plentiful but goods were scarce, and publications were one of the few unrationed categories of available goods. Second, the war had left the public with a pent-up desire for reading material. Third, military government exercised considerable guidance and supervision over publications. A survey undertaken by Military Government in the spring of 1949 showed that the publishing industry reacted violently to various changed conditions, and provides a graphic illustration of the influence of economic factors on the content of mass communications. The institution of a free paper economy was effected within two weeks of the currency reform. While the post-currency reform rise in paper production provided periodicals with opportunities for greatly increased circulations, it did not lighten problems of the book publishing industry.
- Published
- 1949
- Full Text
- View/download PDF
4. THE IMPACT OF BANK PORTFOLIO DECISIONS ON THE BALANCE OF PAYMENTS: THE GERMAN EXPERIENCE.
- Author
-
MIRUS, ROLF
- Subjects
CAPITAL movements ,FOREIGN assets ,INTEREST rates ,BANKING industry ,INTERNATIONAL finance - Abstract
In periods of frequent realignment of foreign exchange rates, interest focuses understandably on the causes of capital movements. The difficulty with studies of such movements usually lies in obtaining data sufficiently disaggregated so as not to force too many types of motivation into one all-encompassing specification. This was the problem M. Porter as well as W. H. Branson and R. D. Hill faced when studying capital movements of OECD countries. C. F. Ou started from a much more narrowly defined asset category but failed to distinguish between demand balances held for transactions requirements and interest earning assets. Despite the attention that capital flows have received of late, their importance for the present system of international exchange rates and the conduct of monetary policy as well as the shortcomings of the studies to date may justify another inquiry. Specifically, the present paper will review briefly the theoretical underpinnings for German banks' decisions to hold short term assets abroad. The main purpose is twofold: 1) to determine which interest rates and scale variables yield the best explanation of actual changes in the stock of such assets held by German banks; 2) to obtain an estimate of changes in the short term capital account of the German balance of payments that can be attributed to banks' portfolio adjustments in the face of interest rate changes at home and abroad. [ABSTRACT FROM AUTHOR]
- Published
- 1974
- Full Text
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5. An Analysis of the Soviet-Controlled Berlin Press.
- Author
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Davison, W. Phillips
- Subjects
PRESS ,JOURNALISM ,PROPAGANDA - Abstract
The aim of this study is to determine the criteria according to which world news presented in the Soviet Union-controlled press of Berlin, Germany is selected. Berlin of today, with its four sectors under U.S., British, Russian and French control respectively, offers a fertile field for the application of content analysis techniques developed in this country during the war. From the start of the quadripartite occupation Berliners have been aware that the press in the Soviet sector of Berlin differs radically from that in the sectors controlled by the Western Powers. Differences have not been confined to the editorial pages but have extended to the news columns. It is of particular importance to attempt to isolate criteria of selection at this time, since a critical news-print shortage limits nearly all German papers to one page or less of world news, and only a small percentage of available dispatches can be given space.
- Published
- 1947
- Full Text
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6. THE FALL IN GERMAN EXCHANGE.
- Author
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Bonn, M.J.
- Subjects
EXCHANGE ,FOREIGN exchange ,MARK (German currency) ,NATIONAL currencies ,COTTON ,COMMERCIAL products - Abstract
The article discusses the decline in German foreign exchange. According to the author, the paper currency in Germany may have increased, as well as the prices, and that the value in foreign currency of the German mark decreased. He explains that paper currency indicates the poverty of a country. The movement and changes in the foreign exchange in New York and in Great Britain illustrated the changed state of affairs in exchange. Because there were only few commodities coming to Germany and cotton shipments were being paid for, the exchange in New York decreased.
- Published
- 1916
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7. WAITING AND THE PERIOD OF PRODUCTION: COMMENT.
- Author
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Neuberger, Egon
- Subjects
PRODUCTION (Economic theory) ,STATISTICS ,ECONOMICS ,MARKETS ,LIBERALISM - Abstract
The article comments on the paper "Waiting and the Period of Production," by Robert Dofman in the August 1959 issue of the "Quarterly Journal of Economics." Just as postwar West Germany has been a leading example of a comparatively unregulated economy, so it has been a principal source of academic literature extolling the virtues of competitive markets and economic co-ordination via unregulated prices. A flood of crusading books, pamphlets and papers attests to the numbers and energies of economists whose social theories and policy recommendations differ radically from those for which their homeland was earlier famous. Neoliberal teachings do not constitute a completely standardized product; disagreement on matters of detail is common and that on more important questions is not rare. But, on the whole, agreement--and repetition--is impressive. The West German crusade is perhaps the outstanding example of non-socialist academicians banding together to fight for and against economic programs.
- Published
- 1960
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8. NOTES AND MEMORANDA.
- Subjects
MEETINGS ,COTTON picking - Abstract
The article offers news briefs including one on the annual meeting of the Verein für Socialpolitik that was to take place at Frankfurt on September 28-29, 1888 where prominent professors would present papers on usury in agricultural districts. The volume of cotton produced in the U.S. for the year 1887-1888 exceeded 7,000,000 bales, the largest ever produced in the U.S. Professor Lujo Brentano assumed the chair of political economy at the University of Vienna.
- Published
- 1888
9. RECENT PERIODICALS AND NEW BOOKS German.
- Subjects
BOOKS ,GERMAN economic policy ,ECONOMIC development ,ECONOMIC development projects - Abstract
Presents several books about the economic policy of Germany. "Geldversorgung, Preisniveau und reales wirtschaftswachstum bei alternativen Grundprinzipien der geldwirtschaftlichen Ordnung," by Friedrich H.; "Bibliography: Concentration Policy, 1960—1966," edited by Huffschmid J., Michaelis J. and Plan W. F.; "Das japanische Kartellrecht: FIW-Schriftenreihe No. 41," by Iyori J. H.; Others.
- Published
- 1968
- Full Text
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10. George S. Messersmith: An Anti-Nazi Diplomat's View of the German-Jewish Crisis.
- Author
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Shafir, Shlomo
- Subjects
NAZI Germany, 1933-1945 ,RIGHT of asylum ,GERMAN Jews - Abstract
The article examines the role of George S. Messersmith, U.S. Assistant Secretary of State in charge of immigration and refugees from 1937-1939, in the German-Jewish crisis. Messersmith played an important role in arousing the U.S. administration to the Nazi danger. Although he had understood the full meaning of Adolf Hitler's anti-Jewish crusade and expressed sympathy for the plight of the German Jews, he never suggested any proposals for asylum or rescue. During the first year of the Nazi regime, until Messersmith's transfer to Vienna in 1934, he consistently favored protests with regard to assaults on American citizens, most of whom were Jews.
- Published
- 1973
11. Integration and Apartness of Minority Groups as Reflected in Election Results.
- Author
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Simon, Walter B.
- Subjects
MINORITIES ,SOCIETIES ,VOTING ,ETHNIC relations - Abstract
Minority groups differ from one another, among other things, in the extent to which they are integrated into or apart from the societies to which they belong. The extent of this integration or apartness is reflected in the various ways in which the minorities differ from the rest of the population, such as in the effect of economic class upon voting. No minority group is ever completely integrated into its society, for complete integration is tantamount to the extinction of group identity. No minority group is ever completely apart, for the term "minority" implies the existence of a majority with which the minority forms a common society. The dimension of integration-apartness is related to but not identical with the dimension of assimilation. Assimilation refers to the replacement or modification of group characteristics as a consequence of out-group contacts. Integration refers to the extent a minority actually forms a part of the body politic of its society. Thus, German "non-Aryan" Christians were fully assimilated but, in the Third Reich, certainly not integrated into the German society. In general, the term "integration" is applicable at various levels of analysis. We talk of the integration of individuals into groupings, the integration of these groupings into further units, and the integration of these into larger units in turn. In the case of our study, individuals are more or less integrated into their respective minority groups, and these in turn are more or less integrated into their respective societies. We are concerned in this paper with developing a measure for the degree of integration of minority groups into their societies. The basic proposition of this paper is: The more apart a minority group is from its society, the more will it differ from that society as a whole in the effect of economic class upon voting. An analysis of the voting of two minorities in Central Europe illustrates the above proposition. This is followed by comments on minority group voting in the United States and Canada. [ABSTRACT FROM AUTHOR]
- Published
- 1962
- Full Text
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12. MOTIVATION OF A TOTALITARIAN MASS VOTE.
- Author
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Simon, Walter B.
- Subjects
NATIONAL socialism ,TOTALITARIANISM ,COLLECTIVISM (Social psychology) ,FASCISM - Abstract
This paper is meant to contribute to the knowledge about totalitarianism by means of analysis of the totalitarian mass vote that is to provide a basis for conclusions upon motivations of voters of totalitarian parties. This paper is focused upon the analysis of the phenomenal rise of the Nazi vote from 1927 to 1933 in Germany and in Austria in order to learn more about those who limit their support of totalitarianism to their ballots. Selected data from the Austrian Communist vote since 1945 are then presented in support of the author's hypothesis that a mass vote for a totalitarian party is not motivated by ideological commitments or even by endorsement of a political programme but simply represents a non-specified protest of discontent. In Germany, the Nazi's mass vote was recruited from former non-voters and minor party voters who returned to voting for minor parties or not at all during the party's brief, but spectacular decline just before it came into power. In Austria, there was but little non-voting and but limited voting for minor parties. However, Austrian defectors to Nazism did not turn to dictator Adolf Hitler directly from their old party, instead, they first either refrained from voting or voted for insignificant splinter groups before they finally turned to Hitler.
- Published
- 1959
- Full Text
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13. GERMAN NEOLIBERALISM.
- Author
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Oliver Jr., Henry M.
- Subjects
LIBERALISM ,ECONOMIC policy ,SOCIAL policy ,CENTRAL economic planning ,LABOR unions - Abstract
The article summarizes views of various economists about neoliberalism in West Germany. Forty years ago several young economists were emphasizing the casual employment relationship characteristic of the new and growing manufacturing industries of the United States. Their studies disclosed an average annual labor turnover in manufacturing of about 100 per cent, and rates of 200-400 per cent were not uncommon. The commitment, which a freshly hired worker and his employer felt toward each other, was usually very limited. There was an employment contract in the sense that the parties had an on-going relationship so long as both remained satisfied. However, the relationship was "casual" in that one of the two usually terminated it fairly quickly. Yet Indian workers have been slow to sever their village attachments, and as a result absenteeism remains high. Current absenteeism rates run about 6-8 per cent in major textile centers; 13-18 per cent in the minor ones; and 10-14 in iron and steel, engineering, cement, matches, leather, and ordnance factories.
- Published
- 1960
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14. THE NEGOTIATION OF THE FBANCO-BELGIAN MILITARY ACCORD OF 1920.
- Author
-
Helmreich, Jonathan
- Subjects
NEGOTIATION ,MILITARY policy ,SOCIALISTS - Abstract
The article focuses on the negotiations of the Franco-Belgium military accord of 1920. The military relations of France and Belgium were of utmost importance because their joint power could be used as a defense against Germany. When the Franco-Belgium military accord was signed on October 27, 1920, it brought with it a storm of protests from anti-militarist Socialists like Flemings and others. With the increasing intensity of the protests, the accord was cancelled and it was decided that a policy which is solely and exclusively Belgian was required to govern the military affairs in Belgium.
- Published
- 1964
- Full Text
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15. THE GROWTH OF EDUCATIONAL EMPLOYMENT IN THREE COUNTRIES, 1895-1964.
- Author
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Cullity, John P.
- Subjects
EDUCATION ,EMPLOYMENT ,STUDENTS ,PUBLIC schools ,LABOR supply ,OCCUPATIONS - Abstract
Statistical data which may be useful to students of economic change are presented in this paper. It interprets long-run statistical series on the growth of educational employment in the United States, Great Britain, and Germany, and provides information on the changes in the relative importance of employment in public schools to total governmental employment and to total employment over the long run. Finally, an analysis of the statistical record indicates that some potentially interesting interrelationships exist between the different proportions of school-age population attending public school, teacher-student ratios, and different ratios of school-age populations to total employment in these countries. [ABSTRACT FROM AUTHOR]
- Published
- 1969
- Full Text
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16. ANNOUNCEMENTS.
- Subjects
CONFERENCES & conventions ,SOCIAL conditions in Germany ,SOCIOLOGICAL associations ,SOCIOLOGISTS - Abstract
The article reports on the eighteenth biennial congress of the Institut International de Sociologie (IIS), held in Nürnberg, Germany from September 10 to 18, 1958. The congress was attended by 295 participants including 221 from 31 countries. Several hundred papers were discussed during the first four days. After these sessions, the members traveled for five days to see postwar Germany. They viewed the reconstruction of Kassel, East Germany and West and East Berlin. The receiving station at Marienfeld in the West Berlin was also inspected. It is the place where peoples who flee from East Germany are held until their placement in West German industries and occupations. IIS is the oldest sociological organization, founded by René Worms at Paris in 1893. Scientific papers may be written in English, French, Spanish, Italian, or German. They are printed in bound volumes for distribution to the members. Membership is elective but national quotas are limited to prevent one country's domination. Eminent sociologist, Professor Hans Freyer, was president of this congress. Professor K. Valentin, general secretary of the U.S., was host this year.
- Published
- 1959
17. CORPORATION AUDITING REQUIREMENTS UNDER THE GERMAN COMMERCIAL LAW.
- Author
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Voss, Wilhelm
- Subjects
AUDITING standards ,CORPORATIONS ,COMMERCIAL law ,STOCKHOLDERS ,ACCOUNTING ,FINANCIAL statements ,ACCOUNTING standards ,AUDITING - Abstract
In almost all German corporations it is at present customary to check up all accounting statements especially the annual balance sheet and profit and loss statement. This work is done by separate auditors or auditing companies. The law, however, does not as yet require an audit. According to the law at present the Supervisory Council as the controlling agent of the corporation is required to supervise all phases of the business including the examination of the financial statements and annual closing entries in order to report thereon at the general stockholders' meeting. The audit function is, therefore, in accordance with the present German law, included in the general control function of the Supervisory Council. The appointment of separate auditors is according to law necessary only in special cases. The Board of Directors in the cases under Section 266, is to allow the auditors to examine the books and papers of the company and also the cash, securities, and goods as well.
- Published
- 1930
18. THE RELATIONS AMONG EQUITY MARKETS: A STUDY OF SHARE PRICE CO-MOVEMENTS IN THE UNITED STATES, UNITED KINGDOM, GERMANY AND JAPAN.
- Author
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AGMON, TAMIR
- Subjects
FINANCIAL markets ,INTERNATIONAL markets ,STOCK exchanges ,CAPITAL market ,STOCK prices ,MARKET segmentation ,MARKETS - Abstract
Most of the existing studies on the international capital market are based on a segmented market approach. This approach treats the different national capital markets as separated entities, hardly related to each other. For this reason (under the assumption of market segmentation), comparable capital assets may differ in their return on different national markets. Although market segmentation enjoys a surprisingly large following, it is not the only possible interpretation of the international capital market. The alternative hypothesis, i.e., that prices of capital assets in the international capital market behave as if there is one multinational perfect capital market, should be considered. The one market hypothesis has the advantage of being consistent with much of the accepted economic theory. Also the one market hypothesis is unambiguous where market segmentation can stand for any number of specific imperfect market formations. Market segmentation is widely accepted as the only possible structure of the international capital market. Different currency areas, separated political organizations and trade barriers have been given as a priori evidence for the segmentation of the international capital market. This, however, is not necessarily the case. An examination of the behavior of capital asset prices reveals that the price behavior is consistent with the one market hypothesis. It should be noted, however, that a certain body of data can be consistent with both the one market hypothesis and any one of several specific forms of market segmentation. But as the main theme of this study is to show the validity of the one market approach to the multinational equity market, it is sufficient to show that one cannot reject the one market hypothesis with regard to this market. [ABSTRACT FROM AUTHOR]
- Published
- 1972
- Full Text
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19. POSTWAR EXPERIENCE IN EUROPE.
- Author
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WOOD, RALPH C.
- Subjects
BALANCE of payments ,FOREIGN exchange ,BALANCE of trade ,WORLD War II & economics - Abstract
The article discusses the discipline of the balance of payments in Western Europe. The article's first section attempts to demonstrate that, in most of Western Europe, the normal balance-of-payments discipline operated against chronic external deficits, which was in fact operative only to a limited extent during the first half-dozen years after World War II. The second section of the article focuses on the operation of the discipline against chronic external deficits throughout the late 1950s and early 1960s. In the third section the question of balance-of-payments discipline in situations of chronic external surplus is considered, with a particular focus on Germany.
- Published
- 1961
- Full Text
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20. Max Weber, Dr. Alfred Ploetz, and W.E.B. Du Bois.
- Subjects
CONFERENCES & conventions ,SOCIOLOGICAL associations - Abstract
This article presents translated passages from the Proceedings of the Conference of the German Sociological Society in Frankfurt, Germany on October 21, 1910. Max Weber and several other participants took part in a very sharp debate involving a paper presented by Alfred Ploetz on The Concepts of Race and Society. The translation has been limited to those portions of the conference containing direct exchanges between Ploetz and Weber, and omits the remarks of Ploetz's other critics. In the course of his discussion with Ploetz, Weber refers to his breakfast meeting with W. E. B. Du Bois in Saint Louis in 1904. Weber had been invited to the U.S. to present a paper at the Congress of Arts and Science as a part of the 1904 Universal Exposition in Saint Louis. Du Bois reports that he heard Weber's lecture during his student days in Germany in 1890's. Weber gave further evidence of his strong interest in Du Bois' work on the occasion of the publication in the Archiv of Du Bois' essay. A footnote will be found there in which the editor asks for comment from the readers and indicates his hope that other articles in this vein will presently be appearing. So far, no comments on the article were published in the year following its appearance.
- Published
- 1973
- Full Text
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21. THE COORDINATION OF LONG-RANGE PLANNING IN LARGE GERMAN COMPANIES.
- Author
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Albach, Horst
- Subjects
STRATEGIC planning ,ORGANIZATIONAL structure ,MANAGEMENT ,BIG business ,ORGANIZATIONAL effectiveness - Abstract
The article reprints the paper "Die Koordination der Planung im Grossunternehmen," by Horst Albach which appeared in the 1967 issue of the journal "Schriften des Vereins für Socialpolitik." This paper addresses the issue of the coordination of long-range planning in large German companies. One of the most important instruments of coordination in large companies is the formulation of long-range company objectives and the elaboration of long-range strategies for attaining these objectives. Some German companies have recently begun to state company philosophy and corporate objectives in their annual reports. Others have found it appropriate to counter rising public resentment of big business and spreading anticapitalist doctrines by clearly formulating corporate creeds at shareholders' meetings and press conferences. These companies have then discovered the organizational spillover effect of these formulations addressed to the public at large. The formulation of such long-range company objectives represents a considerable task of coordination.
- Published
- 1973
- Full Text
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22. MARX, WEBER, AND THE DEVELOPMENT OF CAPITALISM.
- Author
-
Giddens, Anthony
- Subjects
- *
CAPITALISM , *CRITICS , *INTELLECTUALS , *LITERATURE , *TRUTHFULNESS & falsehood , *ATTITUDE (Psychology) , *SOCIOLOGY - Abstract
The main object of this paper is to separate several strands in the relationship between the works of Marx and Max Weber. Max Weber has rightly been regarded as Marx's most profound intellectual critic. But there has been much confusion in subsequent literature over the nature and validity of Weber's critique of Marx. This perhaps stems, in part at least, from a failure to distinguish a number of different, although interrelated, themes in Weber's writings. Weber wrote not simply as a critic of Marx, but also in response to the writings and political involvements of the prominent Marxists of his day. Three partially separable aspects of Weber's views thus may be isolated: (a) His attitude towards Marxism in the shape of the main Marxist political agency in Germany, the Social Democratic Party. (b) His views upon the academic contributions of Marxist authors to history and sociology. (c) His views upon what he considered to be Man's own original ideas. These three aspects of Weber's thought may in turn be distinguished from the analytic problem of how far Weber's own understanding of Marx's theory of historical materialism was in fact a valid one. Some of Marx's posthumously published writings, unavailable to Weber, allow us to form a clear judgement on this question. The historical changes in the social and political structure of Germany from the middle to the latter part of the nineteenth century form an essential background to the whole of the paper: Weber's attitudes toward Marx and Marxism cannot be understood out of this context. Weber's work was written not solely in response to a wraith-like "ghost of Marx", but also in response to a force--Marxism--which played a vital political and intellectual role in Imperial Germany. [ABSTRACT FROM AUTHOR]
- Published
- 1970
- Full Text
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23. DR. SCHLIEMANN AND THE ARCHÆOLOGICAL VALUE OF HIS DISCOVERIES.
- Author
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CHASE, THOMAS
- Subjects
ARCHAEOLOGISTS ,HISTORY of archaeology ,NINETEENTH century ,BIOGRAPHY (Literary form) - Abstract
A conference paper about the significant archaeological discoveries and life of Dr. Heinrich Schliemann is presented. It discusses his birth on January 6, 1822 and his early life in the town of Mecklenburg-Schwerin, Germany. It details his travels and research in India, China, and Egypt. His research on the ancient city of Troy, Greece is also discussed.
- Published
- 1891
24. Detecting Collaboration in Propaganda.
- Author
-
Berelson, Bernard and de Grazia, Sebastian
- Subjects
WORLD War II ,PROPAGANDA ,GOVERNMENT publicity ,INTERNATIONAL propaganda - Abstract
The study of mass communications can be divided into three parts: intent analysis, content analysis and effect analysis. This order not only reflects chronology. By placing content analysis in the middle position, it also highlights the contribution of that procedure to the other two, namely, to support inferences about intent on the one hand and effect or response on the other. This paper reports a number of special attempts to discern the intentions of enemy propaganda during World War II by means of rigorous analysis of the manifest content of the communications under control. Among the many other problems in the area of intent analysis is the problem of discovering whether two communications-controlling groups, formally related or not, actually collaborate in their propaganda output; and if so, under what conditions, in what ways, and to what extent. This is the general context of this study. Specifically, the subject of investigation was the nature of collaboration between the German and Italian propaganda ministries in their short-wave radio output beamed to North America just before and after the entry of the United States into the war.
- Published
- 1947
- Full Text
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25. THE GERMAN PRESS AFTER V-DAY.
- Author
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Sollmann, William F.
- Subjects
FREEDOM of the press ,GERMAN newspapers ,NAZIS ,NEWSPAPER circulation ,POLITICAL parties ,NATIONALISM in the press - Abstract
The article focuses on German press after the freedom and refounding of democratic German newspapers, as of December 1, 1944. When German dictator Adolf Hitler took power in 1933, 2,243 of Germany's newspapers were directly connected with political parties. But Nazis could claim only about 100 party newspapers, and, of these, few had a circulation over 10,000. The two Catholic groups with less than half the number of votes, were represented by about six times as many newspapers. The Social Democratic Party, with a little more than half the number of votes, owned outright 148 newspapers and eighteen periodicals. The weakness of the labor press contributed to Hitler's rise in a passive but nevertheless in an important manner. Even under the Emperor and the Weimar Republic, four-fifths of these voters for labor parties subscribed to Nationalist newspapers, because these were cheaper, more sensational, had more news and, above all, appealed to women through more advertisements.
- Published
- 1944
- Full Text
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26. CRITICISM IN A ONE-PARTY STATE.
- Author
-
Marx, Fritz Morstein
- Subjects
TOTALITARIANISM ,CRITICISM ,IDEOLOGY ,PRESS ,POLITICAL parties - Abstract
Perhaps the most significant characteristic of "totalitarian" regimes is the elevation to the status of the Germany's political faith. State-monopolized propaganda is substituted for the competition of ideologies to be found in the established pattern of representative government. This transformation requires the "coordination" of all instruments of opinion management, particularly the press, under the guidance of a central agency of the one-party state. The primary aim of government propaganda, however, is not so much to eliminate opportunities for direct and broadly effective criticism as to conquer the minds of the people. "Popular en-lightenment" seeks to produce demonstrations of civic approval, for "one cannot sit on bayonets." The task of staging manifestations of mass identification with the elite in power calls for expert handling of public opinion. The necessity of "dosing" propaganda "prudently" accounts largely for the fact that in Germany the former liberal press has not simply been stamped out by government decree.
- Published
- 1937
- Full Text
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27. FARM AND HOME OWNERSHIP AND NATIONAL STABILITY: GERMANY.
- Author
-
Branson, E. C.
- Subjects
FARMERS ,HOME ownership ,WEALTH ,TAXATION ,CHARITIES - Abstract
The article focuses on the home-owning farmers and factory workers in the little country towns of Germany. They and their families are around four-fifths of all the German people and how they feel about things is a fact and a factor of importance. The peasant farmers are rich and getting richer every day. No matter who may be poor in Germany the home-owning farmers and factory operatives are rolling in wealth, such wealth as they never before enjoyed in all their lives. They are holders of the fluid capital accumulated in Germany in the long centuries since the Hanse towns began to create such wealth in Central Europe. They are the owners of bank account savings, stocks, bonds, notes, mortgages and other forms of bankable paper. When delay has wrought its deadliest damage, then it will be the owners of farm lands, water powers, mines, quarries and industrial plants, the owners of the producing properties in Germany, who must rebuild German civilization. According to the author, the peasant farmers like all untutored people in every land are opposed to taxes of any sort for any purpose whatsoever, but they will pay taxes to the last mark if only they can see a settled, certain way ahead. But no matter what taxes they pay into a Reparations fund they will pay them with no thought of revolution.
- Published
- 1923
- Full Text
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28. THE 'FUNKTIONALE KONTORECHNUNG' OF WALTER THOMS.
- Author
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Holzer, H. Peter and Schönfeld, Hanns-Martin
- Subjects
BOOKKEEPING ,ACCOUNTING ,FINANCIAL statements ,MATHEMATICAL analysis ,MATERIALITY (Accounting) ,INCOME ,CORPORATE finance - Abstract
The article focuses on German accounting literature. The "Kontentheorien," which were developed in German-speaking countries attempt to explain, often through mathematical analysis, the double entry mechanism of accounting. They are only indirectly related to the various balance sheet theories, which deal principally with the form and substance of financial statements and are largely centered around the valuation problem and income determination. German accounting literature includes many excellent works on "Rontentheorie." One of the more recently proposed theories in this area is the "funktionale Kontorechnung" by Walter Thorns, whose proponents claim that it has already been usefully applied in numerous German companies. One of the more interesting features of the Thorns system is the proposed treatment of cash transaction data. It is the purpose of the paper to acquaint the reader with this system of accounting and types of analysis, which are an immediate by-product of its application. What is new and different in the system is the fact that cash is considered to be in a category all by itself.
- Published
- 1964
29. THE POSITION OF THE GERMAN ACCOUNTANT.
- Author
-
Matz, A.
- Subjects
ACCOUNTANTS ,CONFERENCES & conventions ,ACCOUNTING ,AUDITORS ,SOCIOECONOMICS ,ACCOUNTING firms - Abstract
From September 19-24, 1938, occurred the Fifth International Congress on Accounting in Berlin, Germany, which brought together German accountants and trustees, and representatives from appropriately forty foreign nations. This convention was again the occasion for discussions on the real status of the accounting profession within the new national pattern. To indicate the position of the German accountant is the object of this paper. The last five years have brought an abrupt about-face in political, cultural, social, economic and professional Thinking in Germany. No phase of national life has remained untouched. Because the efforts and endeavors of every individual are first to serve the welfare of all the people, the education of the individual to the ideology of National Socialism is a most necessary prerequisite. While alignment to the new pattern was accomplished very quickly in many fields, the professional occupations remained aloof from the new mode of thought; but now, with the aid of legal and educational forces, they, too, are following the trend. Among the professions, the accountant, whether private or public, has always occupied an honorable and important position.
- Published
- 1938
30. DISCUSSION.
- Subjects
ECONOMIC policy ,ECONOMIC stabilization ,DEPRESSIONS (Economics) ,UNEMPLOYMENT ,ECONOMIC recovery ,ECONOMISTS - Abstract
The article presents comments of economists George Soule, Harry W. Laidler and Eduard Heimann on researchers Summer H. Slichter's and Kirk Hinrich research papers related to economic instability. Schule argues that socialism is not synonymous with economic isolation. Germany and Italy are today following the policy of autarchy, although they are about as far from socialism as any regime that can be imagined. The Soviet Union, which is socialist, has been compelled by historic necessity to become nearly self-contained, but this is a departure from socialist theory, which remains internationalist. During the depression the government has devoted nearly as much borrowed money to the relief of unemployed capital as it has to the relief of unemployed labor. Laidler argues that the arguments of Slichter against wage cuts as a means to recovery axe far stronger. He agrees with Hinrichs that one should regard stability as a dynamic, not as a static concept. Heimann argues that Slichter made a rather unusual statement in saying that the present system is nearly always on the verge of shrinkage.
- Published
- 1936
31. REPARATIONS AND THE FLOW OF CAPITAL.
- Author
-
Williams, John H.
- Subjects
CAPITAL ,COMPENSATION (Law) ,WAR reparations ,INTERNATIONAL trade ,CAPITAL movements ,TAX incidence ,GOLD standard ,FOREIGN loans - Abstract
Until 1924 Germany was on a paper standard. Reparation payments under London settlement did indeed cause the mark to depredate, to a value finally of one billionth of a dollar, but exports did not exceed imports. In 1924 came the Dawes Plan. It adopted for the first time as a rule of procedure the principle of capacity to pay. It passed no judgment on capacity, and was less concerned with immediate than with ultimate capacity. It sought chiefly to establish the conditions which would develop and test capacity. This was indeed a great advance, it put the problem in a new and hopeful setting. The Dawes Plan set up the necessary condition to test capacity to pay. The gold standard was restored, and protected by transfer clauses conditioning reparation payments upon its maintenance. The budget was to be balanced, and for the first time reparation payments were budgeted. The plan sought to adjust the tax burden by gradual stages to German capacity, and it relied on a preliminary foreign loan to ease the transfer process.
- Published
- 1930
32. REVISIONS OF THE EUROPEAN DEBT SETTLEMENTS—DISCUSSION.
- Author
-
Patterson, E. M.
- Subjects
CORPORATE debt financing ,PAYMENT ,DEBT ,DEBT management ,CASH flow ,BONDS (Finance) ,SINKING funds ,PUBLIC debts - Abstract
There are two ways of approaching this question of revisions of European debt settlements. One is by an appeal to historical, legal, sentimental, and certain long-run economic considerations, the method that has been followed in the two papers preceding this. The other is to examine the drift of events which may conceivably have much to do with settling the argument. It is possible that the matter may be taken out of our hands, so to speak, and that new adjustments may occur while one is still debating. One will be remembered that in May 1921, claims against Germany were finally set at some 132 milliards of gold marks, including A, B and C bonds, and that attempts were made to collect 5 per cent interest plus 1 per cent sinking fund charges on the A and B bonds or a total of three milliards of marks per year. Against this effort disinterested economists everywhere protested. The Ruhr invasion and the collapse of Germany bear witness to the folly of demanding the impossible. Today the discussion rages around the possibility of collecting only 2.5 milliards per year which is a 6 per cent return on only 41,666,000,000 marks.
- Published
- 1928
33. THE ALIEN AS A SERVANT OF POWER: COURT JEWS AND CHRISTIAN RENEGADES.
- Author
-
Coser, Lewis A.
- Subjects
POLITICAL autonomy ,RELIGIOUS crimes ,COURT Jews ,AUTHORITY ,OTTOMAN Empire - Abstract
When political rulers are greedy for power, when they wish to maximize their autonomy in the face of feudal, bureaucratic and other impediments, they tend to avail themselves of the services of alien groups of men who have no roots in the country they rule. The rootless alien is an ideal servant of power who can easily be bent to the ruler's purposes because he is totally dependent and cannot accumulate autonomous power. Which particular alien groups can be used for these purposes depends on availability and historical circumstances. This paper deals with two historical cases: The Court Jews of Baroque Germany and the Christian renegades who served the Ottoman Empire at its height. [ABSTRACT FROM AUTHOR]
- Published
- 1972
- Full Text
- View/download PDF
34. PAYMENTS BETWEEN NATIONS IN THE EIGHTEENTH AND EARLY NINETEENTH CENTURIES.
- Author
-
Redlich, Fritz
- Subjects
PAYMENT ,BILLS of exchange ,NEGOTIABLE instruments ,INTERNATIONAL trade ,SUBSIDIES - Abstract
The article provides information on payments between states and public bodies in the 18th and early 19th centuries in Germany. In the eighteenth century and in the first years of the nineteenth century two methods of payment were used in transactions between states and public bodies such as subsidies or war levies: payment by cash and payment by bills of exchange. These two methods were used alternatively as well as simultaneously. Payments by mercantile paper between merchants were much more common in the eighteenth than in the nineteenth century, and bills had more economic functions at this time than later when other credit facilities were developed. It was therefore natural that bills were resorted to for payments between states and public bodies. But since bills were instruments of merchants it was often necessary, in order to effect the payments, to transform indebtedness between states into indebtedness of private individuals to states. The English subsidies to Prussia during the Seven Years War were paid partly by bills on Amsterdam and Hamburg, partly by gold and silver. During that war other payments were made, quite different in origin from those subsidies.
- Published
- 1936
- Full Text
- View/download PDF
35. RECENT DISCUSSIONS ON RAILWAY MANAGEMENT IN PRUSSIA.
- Author
-
Taussig, F.W.
- Subjects
RAILROAD management ,GOVERNMENT ownership of railroads ,PUBLIC utilities ,TRANSPORTATION - Abstract
The article focuses on various papers which discuss railway management in Prussia, Germany. From one source and another the administration of the state railways of Prussia has been attacked on various points--as to the mechanical condition of the railways, as to the organization of the working force and the efficiency of the administrative machinery, and, finally, as to the training of the higher officials. The whole discussion seems to have begun with some articles published in the journal "National Zeitung" of Berlin in the summer and autumn of 1891. These articles attacked the state railways for inferiority in mechanical matters, and for a supposedly detrimental predominance, in the general management, of administrators having only a legal training. The general impression left on the outsider is that there have been some engineering and mechanical mistakes in the Prussian administration. But, doubtless, they have been exaggerated; and doubtless it would be difficult to make out any clear connection between them.
- Published
- 1894
- Full Text
- View/download PDF
36. Development of German Industry, 1913 to 1922.
- Subjects
INDUSTRIES ,EMPLOYMENT ,INDUSTRIAL surveys ,CENSUS ,STATISTICS - Abstract
The article traces the development of industries in Germany from 1913 to 1922. The German Federal Government conducted a census that described the development and condition of economic life in the country. This census included all industries, from mining, commerce, handicrafts, forestry and agriculture. It covered industries and establishments that have at least 10 workers or operated by motor equipment. Several employment statistics on various industries are presented, including iron and steel, mining and metal working and machinery industries.
- Published
- 1924
37. THE ECOLOGY OF POLITICAL PARTIES.
- Author
-
Heberle, Rudolf
- Subjects
ELECTIONS ,POLITICAL parties ,LEGISLATIVE bodies ,SOCIAL classes - Abstract
The present of political elections in Schleswig-Holstein during the years paper is based on a study movements, parties, and the German region of which was carried out 1932 to 1934. Since the people's delegates to legislative bodies are elected for definite areas, the ecological approach to the analysis of election results is so to speak suggested by the very nature of the data. This would not be the case if elections were conducted by occupational or other non-territorial units. Besides, the political behavior of most people is to a large extent conditioned by the opinions and actions of other persons with whom they live in close proximity, particularly in rural society. The student of political movements in pre-Nazi Germany had the advantage that a multiple party system lends itself better than a two party system to this kind of analysis, and furthermore that the system of proportional representation favored the organization of political parties around definite social interest groups, and therefore emphasized the correspondence between social classes and political parties. Consequently the party constellation in any area came very close to an expression of the class structure of that area.
- Published
- 1944
- Full Text
- View/download PDF
38. SOCIAL SECURITY IN AN UNSTABLE WORLD.
- Author
-
Meriam, Lewis
- Subjects
SOCIAL security ,ECONOMIC stabilization ,ECONOMICS ,ECONOMICS of war ,INSURANCE ,ECONOMIC security ,SOCIAL security laws - Abstract
This paper is centered on two major theses—The formal social security system is a minor factor in the quest for economic stability, and the utility of a social security system such as that toward which people are tending is dubious unless economic stability is attained. Those who have lived through two world wars scarcely need be reminded of what wars do to economic stability. The victorious nations emerge to face situations which from the standpoint of what ought to be done and how it should be done are more difficult than war itself. Political divisions among the victorious allies and among the people of a single victorious nation are broadened and intensified and lead to bitter controversies. As to the vanquished, many will recall studies of the social security legislation of Germany prior to the first World War and possibly the admiration for the efficiency that country had attained in the administration of government. The example of Germany today does not greatly advance the cause of those who would have the United States follow the policies adopted in Western Europe.
- Published
- 1947
39. MYSTICS AND MERCHANTS IN FOURTEENTH CENTURY GERMANY.
- Author
-
Peacock, James L.
- Subjects
MYSTICS ,MERCHANTS ,PSYCHOTHERAPY ,RATIONALISM ,CHURCH - Abstract
The thesis of this paper is that fourteenth century German mystics administered psychotherapy to fourteenth century German merchants, thereby aiding the efforts of the merchants to rationalize commerce and society. The argument runs that the merchants' emphasis on economic rationalism violated traditional values of the Church and of medieval society in general. Since the Church an d the associated social order were perceived as controlling every man's chances for salvation, the merchants felt anxious and guilty about their rationalist tendencies, and were therefore tempted to dilute them. Another solution, however, was to continue the rationalism but to seek therapy for the anxiety and guilt that it evoked. Mystic-monks were among those who provided such therapy. Analyses and speculations are offered regarding the symbolism that goaded the therapy forward. [ABSTRACT FROM AUTHOR]
- Published
- 1969
- Full Text
- View/download PDF
40. Political Significance of Recognition Via Mass Media–An Illustration from the Berlin Blockade.
- Author
-
Davison, W. Phillips
- Subjects
PUBLIC opinion ,SOCIAL sciences ,PRACTICAL politics ,MASS media - Abstract
It has long been observed by social scientists and, more intuitively, by those who are concerned with the practical politics of public opinion, that one function of the mass media is to confer recognition on individuals or groups. Public recognition, in turn, when it comes from a "significant other" or an important reference group, may exercise an influence on the opinions and behavior of those who receive it. The purpose of this paper is to examine the role that recognition, as expressed through the mass media, played by influencing politically-significant behavior in one crisis situation—the Berlin blockade of 1948-49. Following the end of the Second World War, the city of Berlin in Germany was divided into four sectors, each of which was occupied by one of the four major powers. A full blockade of the land and water routes leading to the sectors occupied by the Western Allies was imposed by the Soviet Union in June 1948. Moscow's objective in doing this was apparently either to force the United States, Great Britain, and France to relinquish their position in Berlin, or else to obtain major concessions from them in West Germany.
- Published
- 1956
- Full Text
- View/download PDF
41. THE REVIEW OF ECONOMICS AND STATISTICS: FEBRUARY 1964.
- Author
-
Katona, George, Lansing, John B., Domar, evsey D., Eddie, Scott M., Herrick, Bruce H., Hohenberg, Paul M., Intriligator, Michael D., Miyamoto, Ichizo, Kain, John F., Dhrymes, Phoebus J., Kurz, Mordecai, Tong Hun Lee, Shupp, Franklin R., Reimer, Richard D., and Latané, Henry A.
- Subjects
ECONOMICS ,ECONOMIC development ,DIVIDENDS ,INTERNATIONAL trade - Abstract
Presents information related to several articles on economics. Economic growth and productivity in the United States, Canada, Great Britain, Germany and Japan in the post war period; Dividend policies of electric utility firms; Relationship between the quantity of materials imported by the United States and the level of industrial production and prices of imports.
- Published
- 1964
42. General Von Seeckt and the Weimar Republic.
- Author
-
Smith Jr., Arthur L.
- Subjects
REARMAMENT ,MILITARY readiness ,ARMS race ,POLITICS & war - Abstract
The article focuses on the role played by General Hans von Seeckt in the post-war German Reichswehr during the Weimar Republic. It mentions that the General's program of secret rearmament had given considerable power in German politics. The author asserts that the consistent thread followed by General von Seeckt during this turbulent period of German politics was the protection of the Reichswehr and the continuance of secret rearmament regardless of the costs.
- Published
- 1958
- Full Text
- View/download PDF
43. GERMAN SOCIAL GEOGRAPHY, AGAIN.
- Author
-
Bartels, Dietrich and Peucker, Thomas K.
- Subjects
- *
HUMAN geography , *GEOGRAPHY , *SERIAL publications - Abstract
Presents a commentary on J. G. Hajdu's analysis of German social geography in his paper "Toward a Definition of Post-War German Social Geography" that was previously published in the 1968 issue of the "Annals of the Association of American Geographers." Points addressed in the paper that should receive greater emphasis; Lack of theoretical framework; Prevalence of German social geography considered as locational analysis in human geography.
- Published
- 1969
- Full Text
- View/download PDF
44. On the Occasion of the Centennial of Weber's Birth.
- Author
-
Wheeler, Wayne
- Subjects
HISTORIOGRAPHY ,PHILOSOPHY ,SOCIOLOGY ,SOCIAL sciences - Abstract
In sum, it is appropriate for contemporary sociologists and other social scientists to pause and reflect not only on their debt to Max Weber but on the uses and misuses to which they have put his thought. Weber may well have brought the last universal mind to social science. Because he contributed so much, we—every one of us—"celebrate him every working day in every scholarly way." He gives us both stability and novelty in concept and purpose. He is always contemporary because he is always relevant. This symposium points up some of the many ways in which Weber today is relevant. The dialogue, more by chance than by design, indicates that perhaps the historical and the existential pragmatic sociologies are not as far apart as they might, on the face of it, seem to be. After all, as George H. Mead has most recently shown again, the present is very much the emergent of a past. Presents and their pasts were the intellectual problems with which Weber was ultimately concerned. It may be that here we will finally find the meeting of East and Midwest. [ABSTRACT FROM AUTHOR]
- Published
- 1964
- Full Text
- View/download PDF
45. SOME RECENT DEVELOPMENTS IN CRITICAL THEORY.
- Author
-
Jay, Martin
- Subjects
CRITICAL theory ,FRANKFURT school of sociology ,RIGHT & left (Political science) ,COMMUNISTS ,SOCIAL theory - Abstract
On November 27, 1972, Der Spiegel published an article on the theme of the "Frankfurt School in a Crossfire." The executioners cited in the Spiegel piece came from both ends of the political spectrum. The most frequent of these charges was against the Frankfurt's School's inability to generate a practical imperative from its theory, a posture best symbolized by Theodor W. Adorno. All that the Frankfurt School could offer to the committed revolutionary was a form of "negative theology," which could only lead to the kind of infantile leftism associated, in the minds of the more orthodox Communists, with the failures of the German "extra-parliamentary opposition." Because so many of the student Left in the late 1960s had been seduced by this siren call, the Czech party paper at the time of the Marienbad conference was moved to sound the solemn warning that "the struggle against the teaching of the "third way" is the most pressing current task of Marxist-Leninist philosophy." To someone with a certain distance from the overheated atmosphere of recent leftist politics in Germany, this judgment seems somewhat premature, to say the least.
- Published
- 1973
46. The Problem of Interpreting Attitude Survey Data.
- Author
-
Ansbacher, H. L.
- Subjects
RUSSIAN Germans ,FOREIGN workers ,CASE studies ,ATTITUDE (Psychology) ,WORLD War II ,SURVEYS - Abstract
The article presents a case study of the attitude of Russian workers in Germany during World War II, towards the problem of interpreting attitude survey data. As mentioned in the article, the U.S. Strategic Bombing Survey found that the Russian workers were most anti-Germans during the war, based on responses given by French, Italian and Russian workers in Germany. However, as maintained by the authors, the same data may be interpreted, to mean that the Russian workers were actually more favorable to the Germans than were the other groups. This reinterpretation also appears to fit certain facts now available regarding foreign workers in Germany, better than does the interpretation put forward by the Bombing Survey. A possible explanation for the original interpretation is afforded by the theory that new data, including survey data, tend to be incorporated in an existing cognitive structure. Moreover, the complexity of international attitudes also contributes to the difficulty of interpreting statements of individuals as to what they think about other national groups.
- Published
- 1950
- Full Text
- View/download PDF
47. STRESSMAN: OBJECT LESSON IN POST-WAR LEADERSHIP.
- Author
-
Boas, George
- Subjects
NOBEL Prizes ,PEACE ,INTERNATIONAL relations ,WORLD War I - Abstract
The article focuses on efforts of a German legislator Gustav Stresemann to establish a peaceful alliance between Germany and France after the First Word War, as of June 1, 1944. Stresemann also won the Nobel Peace Prize for this initiative. The general estimate of Stresemann was that he was a sincere friend of peace, desirous of collaborating with his neighbors, the initiator of a new order. Nobel Prizeman seems to be denying French claim that the passive resistance was a government program inspired from Berlin, Germany. Modern apologists for Stresemann may say what they will, but not even they would maintain that the three verbs quoted constitute a program whose moral quality would be of the finest. The article analyzes Stresemann's diary, notes, letters and unconscious revelations, in an attempt to understand his psychology and ideas related to the initiative he took. According to the author, Stresemann was a safe, repentant sinner of the right, a good European and a safe bet for Allies.
- Published
- 1944
- Full Text
- View/download PDF
48. THE GERMAN PRESS CHAMBER.
- Author
-
Larson, Cedric
- Subjects
TOTALITARIANISM ,FASCISM ,PRESS ,LAW ,IDEOLOGY - Abstract
The purpose of this present article is neither to attack nor to vindicate press control, but to furnish a systematic presentation of the ideology and mechanism of such regulation as developed by the German National Socialist Workers Party in Germany. In a totalitarian state the press bears a relation to the life of the people different from that in countries where other types of government obtain. To dismiss this differentiation by saying that press regulation is indefensible is to approach the problem with a closed mind. There is no connection between the old press laws and the new. The old law was based upon the legalistic concept of the state merely acting as policeman in the enforcement of the laws. The new role of the press is educational and its aims and activities must dovetail into those of the state, and the other cultural organizations. The person who has been born and reared amid a full freedom of the press may look upon press regulation. In spite of the strictures there are, however, compensating advantages.
- Published
- 1937
- Full Text
- View/download PDF
49. EUROPEAN MEETING.
- Subjects
CONFERENCES & conventions ,ECONOMETRICS - Abstract
Presents a program of the European meeting on August 1967 in Bonn, Germany. Presentation of the econometrics of international trade; Establishment of the measurement of demand functions; Contribution of papers on mathematical economics; Practice of econometric methods; Lecture on macroeconomic models and problem of forecasting.
- Published
- 1968
50. GERMANY'S CAPACITY TO PAY AND THE REPARATION PLAN.
- Author
-
Graham, Frank D.
- Subjects
WAR reparations ,WAR damage compensation ,INTERNATIONAL finance ,FOREIGN exchange ,MONETARY policy - Abstract
This article focuses on Germany's plan to pay and the reparation plan. The control of the transfers is in the hands of an agent acting under the direction of a committee of six, including the agent and one appointee by the Reparation Commission from each of the five Allied and Associated Powers interested in reparations. Members of this committee must be qualified to deal with foreign exchange problems and skilled in matters of foreign exchange and finance. But the problem of transfers lies in the realm of international trade as well as of finance and foreign exchange, and the whole history of reparations points to the probability that the single member who is to represent each of the governments concerned will always be a financier or financial expert only, and not an economist well versed in both of the relevant fields. Every conversant person knows that the transfers can ultimately be effected only through the medium of an excess of exports of German goods and services over the imports of the same into Germany.
- Published
- 1925
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