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

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  • Beate Sauer
  • Friedrich L. Sell

Abstract

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.

Suggested Citation

  • Beate Sauer & Friedrich L. Sell, 2018. "Lost in translation – a revival of Wolfgang Stützel's Balances Mechanics," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 25(3), pages 401-427, May.
    • Handle: RePEc:taf:eujhet:v:25:y:2018:i:3:p:401-427
    DOI: 10.1080/09672567.2018.1449878
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    Cited by:

    1. Michael ?llinger & Friedrich L. Sell, 2019. "European Economies in Light of the Keynesian cum Kaldorian Macroeconomic Distribution Theory: A Theoretical and Empirical Investigation," Review of Economics & Finance, Better Advances Press, Canada, vol. 16, pages 59-75, May.

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