Template-Type: ReDIF-Article 1.0 Author-Name: Samuel Bostaph Title: Friedrich von Wiesers´s theory of socialism: A magnificent failure Abstract: This paper examines Friedrich von Wieser's theory of the socialist or communist planned economy. It identifies in Wieser's Law of Power (1926) the abiding interests that stimulated his attempt to use Carl Menger's theory of subjective value to present a theory of socialism, first in Natural Value (1889) and later in Social Economics (1914). It discusses his conception of a unit of marginal utility, or "natural value," as the basic unit of economic calculation in his imputation theory and his use of that building block in his consequent theory of production and distribution in a socialist economy. Lastly, it argues that Wieser's theory attempts to socially objectify subjective values and is actually a return to a pre-Mengerian supply-side, real cost approach to the theory of value. Wieser's theory of economic calculation under socialism thus represents a failure to understand the radical contribution of Menger's value theory to the theory of exchange. Keywords: marginal utility, Wieser, economic calculation, imputation theory Classification-JEL: B130, B140, P210 Pages: 723-732 Volume: 2005 Issue: 6 Year: 2005 File-URL: http://www.vse.cz/polek/download.php?jnl=polek&pdf=533.pdf File-URL: http://www.vse.cz/polek/533 File-Format: text/html Handle: RePEc:prg:jnlpol:v:2005:y:2005:i:6:id:533:p:723-732 Template-Type: ReDIF-Article 1.0 Author-Name: Marek Loužek Title: Makroekonomické aspekty porodnosti Title: Macroeconomic aspects of fertility Abstract: The paper is concerned with macroeconomic aspects of fertility. Second section starts by outlining the role of population in the history of economic thought, and continues by examining the theory of demographic transition. The fourth section explores the relation between population and economic growth, distinguishing theoretical approaches and empirical research. The fifth section examines the relation between the birth rate and death rate. The sixth section makes insights into the interdependence of fertility and business cycles. The seventh section takes the fiscal effects of population development into account. Keywords: economic theory, macroeconomics, population development, fiscal effects, business cycles Classification-JEL: B1, B2, J1 Pages: 733-746 Volume: 2005 Issue: 6 Year: 2005 File-URL: http://www.vse.cz/polek/download.php?jnl=polek&pdf=534.pdf File-URL: http://www.vse.cz/polek/534 File-Format: text/html Handle: RePEc:prg:jnlpol:v:2005:y:2005:i:6:id:534:p:733-746 Template-Type: ReDIF-Article 1.0 Author-Name: Josef Arlt Author-Name: Markéta Arltová Title: Vztah deficitu běžného účtu platební bilance a rozpočtového deficitu - analýza panelových dat Title: The relationship of budget deficit and current account balance - panel data analysis Abstract: Panel data are increasingly being used in both macro- and micro-level studies of economic problems. Macro-panel data (i denotes countries) are characteristic by sufficiently long time series to be able to analyze panel spurious regression and panel cointegration. According to the main stream of the economic theory the budget deficits leads to deterioration in the current account balance. The panel long-run causal relation is examined in the case of the four groups of countries. For the Granger causality test the panel cointegration analysis is needed. The panel cointegration relationships were not found in any case. Some similarities in the panels were found in the case of Latin America countries but they are not significant. Keywords: causality, budget deficit, panel data, current account balance, panel cointegration analysis Classification-JEL: C22, C23, E62 Pages: 747-764 Volume: 2005 Issue: 6 Year: 2005 File-URL: http://www.vse.cz/polek/download.php?jnl=polek&pdf=535.pdf File-URL: http://www.vse.cz/polek/535 File-Format: text/html Handle: RePEc:prg:jnlpol:v:2005:y:2005:i:6:id:535:p:747-764 Template-Type: ReDIF-Article 1.0 Author-Name: Michal Andrle Title: Principy modelů nové ekonomické geografie Title: Principles of new economic geographic models Abstract: In this short paper there will be introduced the stream of economic theory labelled as the New Economic Geography (NEG) and derived the core-periphery model, a flagship of the NEG. It is a model of two regions with imperfect competition and increasing returns to scale, where some properties of the model contrast certain features of basic neoclassic models of regional economics and international trade. The role of monopolistic competition and increasing returns to scale opens the possibility of highly nonlinear effects of production location with respect to barriers of trade. I analyze main mechanisms of the model and discuss the relevance of the NEG for economic policy in the context of European economic integration. Keywords: New Economic Geography, monopolistic competition, increasing returns to scale, core-periphery model Classification-JEL: C43, E31 Pages: 765-780 Volume: 2005 Issue: 6 Year: 2005 File-URL: http://www.vse.cz/polek/536 File-Format: text/html Handle: RePEc:prg:jnlpol:v:2005:y:2005:i:6:id:536:p:765-780 Template-Type: ReDIF-Article 1.0 Author-Name: Anna Vladová Title: Sklon k spotrebe v sektore domácností na Slovensku Title: Propensity to consume in household sector in Slovakia Abstract: Slovakia is one of the countries with the highest and fastest propensity to consume in sector of households. In the development of propensity to consume we can distinguish the period of forced increase in consumer preferencies and the period of voluntary increase. The forced increase was a result of one-off shortfall in the gross disposable income or the catching-up process in consumption after previous restriction a year before. The voluntary intertemporal substitution in consumption was affected by the expansion of supranational retail chains, massive dwelling transfer to private property, starting-up of housing loans, development of mandatory and voluntary insurance, increase in the number of the self-employed. Household gains from holding and sales of fixed assets was an important factor of the increase in propensity to consume. Not only autenthical reasons but also impact of methodology can be identified in increased propensity. Keywords: propensity to consume, disposable income, intertemporal substitution in consumption, consumer convergence, capital gain, house prices, housing loans Classification-JEL: R20, R31 Pages: 781-792 Volume: 2005 Issue: 6 Year: 2005 File-URL: http://www.vse.cz/polek/download.php?jnl=polek&pdf=537.pdf File-URL: http://www.vse.cz/polek/537 File-Format: text/html Handle: RePEc:prg:jnlpol:v:2005:y:2005:i:6:id:537:p:781-792 Template-Type: ReDIF-Article 1.0 Author-Name: Eva Cihelková Author-Name: Pavel Hnát Title: Subregionalismus v EU a APEC Title: Subregionalism in EU and APEC Abstract: As a consequence of the new regionalism a marked increase in the number of regional groupings can be observed which makes the preferential relations between states even more complicated and complex. One of such complex relationships, which did not come to being during the third wave of regionalism but was strongly supported by it, is subregionalism - simply said, overlapping of regional integrations. The aim of this comparative study is to analyze a current state and development of subregionalism within two region-wide integrations - the European Union (EU) and the Asia Pacific Economic Cooperation (APEC) - and on the basis of this analysis to compare the effects of this phenomenon in both regions. Some general conclusions enabling an assessment of future development of subregionalism and its impact on regionalism in Europe and Asia are the main outcomes of the comparison. Keywords: European Union, regionalism, subregionalism, new regionalism, APEC Classification-JEL: F01, F02, F13, F15 Pages: 793-810 Volume: 2005 Issue: 6 Year: 2005 File-URL: http://www.vse.cz/polek/download.php?jnl=polek&pdf=538.pdf File-URL: http://www.vse.cz/polek/538 File-Format: text/html Handle: RePEc:prg:jnlpol:v:2005:y:2005:i:6:id:538:p:793-810 Template-Type: ReDIF-Article 1.0 Author-Name: Patrik Paneš Title: Teoretické koncepce hospodářské soutěže Title: Theoretical concepts of economic competition Abstract: This paper describes the main theoretical concepts of the competition, which is thought to be the fundamental social process in the economy. The protection of competition (or the competition policy) is the one of the most important parts of economic policy, because the competition ensures the freedom of choice. The theory of competition provides large number of assumptions, which were developed within the frame of various economic schools and approaches. This paper starts with the description of the history of competition policy before the coming of Adam Smith. In the middle part of the work there have been formulated basic ideological theses about economic policy. Represented are, for example, the Classics, Ordo-liberalism or Neo-austrian School. Paper is finalized by the major theses of the Harvard and Chicago school. Keywords: monopoly, antimonopoly policy, competition policy, antitrust law, Neo-austrian School, Chicago School, Harvard School, cartels Classification-JEL: B10, B20, D40, L40 Pages: 811-825 Volume: 2005 Issue: 6 Year: 2005 File-URL: http://www.vse.cz/polek/download.php?jnl=polek&pdf=539.pdf File-URL: http://www.vse.cz/polek/539 File-Format: text/html Handle: RePEc:prg:jnlpol:v:2005:y:2005:i:6:id:539:p:811-825 Template-Type: ReDIF-Article 1.0 Author-Name: Pavel Breinek Title: Procesy globalizace ve světové ekonomice Title: Processes of globalization in the world economy Abstract: The objective of this article is to provide a survey of basic facts about process of globalization. We can define globalization as the international economic integration through particular markets. Globalization is largely continual and objective process that began approximately in the middle of nineteenth century. Main factors determining globalization are technology and liberalization and also "desire of people to participate in globalization". On the other hand globalization reinforces these factors. Within globalization we can also see two following processes. The essence of the first one is centralization and concentration of production and capital and in the centre of second one stands a process of transnationalization. The results of these tendences are creation and action of transnational corporations. Today these firms are major entities forming present globalization. It is also necessary to give certain attention to the role of state in current world. Keywords: globalization, world economy, international organizations, transnational corporations Classification-JEL: F02, F15, F23 Pages: 826-842 Volume: 2005 Issue: 6 Year: 2005 File-URL: http://www.vse.cz/polek/download.php?jnl=polek&pdf=540.pdf File-URL: http://www.vse.cz/polek/540 File-Format: text/html Handle: RePEc:prg:jnlpol:v:2005:y:2005:i:6:id:540:p:826-842