prosperity

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Under prosperity ( latin prosperare "grow") is meant in the economics an economic phase or condition caused by growth and the concomitant prosperity of the business entities are identified. The opposite of prosperity is crisis , depression or austerity .

General

The Anglicism Prosperity ( English prosperity ) arises from the US-American economic optimism, in which companies have a good profit situation with increasing profit expectations . Is in the economic prosperity doctrine synonymous with the phase of the boom or the boom ( English boom ), also the consumers by a high employment rate to economic success help (increasing per capita income ).

The phase of prosperity is characterized by an optimistic mood among entrepreneurs and consumers. The resulting increase in the level of consumption and production leads to growing national income and growing prosperity within society.

reception

For the founder of economics Adam Smith expressed in his published in March 1776 book The Wealth of Nations "of the population from the prosperity of a country in the increase." The economist Gottfried Haberler published the book Prosperity and Depression in 1937 , which appeared in German in 1948 and dealt with the theoretical investigation of economic movements. He saw depression as the opposite of prosperity, because “in order to define depression we must also define prosperity; because these are correlative concepts, since each is the negative of the other ”. For him, prosperity can exist in an economic sector , a region or an entire state or the entire world. Since , according to Joseph Schumpeter (1939), many dynamic market gains can be expected at any time during prosperity , the willingness of entrepreneurs to pay interest will actually increase as a result of the mechanical effect of rising prices on operating costs . John Maynard Keynes published in March 1933 four articles in the daily newspaper The Times under the title "The Means to Prosperity" ( German  "The means for prosperity" ), in which he the favorable employment emphasized and encouraged them to increase demand the taxes to lower . In 1936 he spoke of the “secular prosperity” of the 16th century: “At no time in the modern world has there been such a long-lasting opportunity for business people , speculators and profiteers . In those golden years, modern capitalism was born ”. According to Hans F. Zacher, the realization of the social state goal takes place both through the “specifically social” such as social security or welfare , as well as through the “unspecific social” such as prosperity.

See also

Web links

Wiktionary: Prosperity  - explanations of meanings, word origins, synonyms, translations
Wiktionary: prosper  - explanations of meanings, word origins, synonyms, translations

Individual evidence

  1. ↑ Gabler's economic dictionary. Volume 4, Verlag Dr. Th. Gabler, 1984, Sp. 877.
  2. ↑ Adam Smith: The Wealth of Nations , 1776/1990, p. 61.
  3. ↑ Gottfried Haberler: Prosperity and Depression. 1948, p. 247.
  4. ↑ Gottfried Haberler: Prosperity and Depression. 1948, p. 248.
  5. ↑ Joseph A. Schumpeter, Konjunkturzyklen , 2008, p. 622
  6. ↑ John Maynard Keynes, in: The Times: The Means to Prosperity. March 1933, p. 64.
  7. ^ John Maynard Keynes: A Treatise on Money. Volume II, 1936, p. 158 f.
  8. ↑ Hans F. Zacher: Treatises on Social Law II. Volume 2, 2008, p. 585.