Lost in translation - a revival of Wolfgang Stützel's Balances Mechanics

Wolfgang Stützel was a prominent German economist who coined a very special terminology in national accounting and in international economics. Therefore, it can be said that his contributions to economics got lost in translation. Especially, the Balances Mechanics approach and the paradox of competi...

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Bibliographic Details
Published inThe European journal of the history of economic thought Vol. 25; no. 3; pp. 401 - 427
Main Authors Sauer, Beate, Sell, Friedrich L.
Format Journal Article
LanguageEnglish
Published London Routledge 04.05.2018
Taylor & Francis LLC
Subjects
Accounting
Austerity policy
Balance of payments
Balances Mechanics
crisis
Economic models
Economic policy
Economic theory
Economists
Eurozone
income distribution
International economics
Payments
Terminology
Translation
Europe
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Summary:Wolfgang Stützel was a prominent German economist who coined a very special terminology in national accounting and in international economics. Therefore, it can be said that his contributions to economics got lost in translation. Especially, the Balances Mechanics approach and the paradox of competition are his biggest achievements in economic theory, but he never received international recognition. The objective of this paper is to pay tribute to his work by applying his analytical frameworks to the balance of payments crisis in the Eurozone and to the distributional impacts of austerity policy.
ISSN:0967-2567
1469-5936
DOI:10.1080/09672567.2018.1449878