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Crisis and Sustainability: Responses from Different Positions

14th Annual Conference of the Faculty of Economics and Business Administration Sofia, 7-8 October 2011

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Edited By George Chobanov and Jürgen Plöhn

The volume contains an editorial and nine contributions to the proceedings of the 14 th international conference of the Faculty of Economics and Business Administration at Sofia University. The first part reflects on the persistent monetary, fiscal and economic crisis in the EU and other OECD countries. The second part deals with specific answers to economic challenges by municipalities and enterprises, treating clusters, NPM and M&A. In a broad sense, the third part is dedicated to sustainable development, including a theoretical, a predominantly political and a practice oriented contribution. The articles are written by authors from five nations: Bulgaria, Germany, Italy, Switzerland and the USA. In the background of each position, there is a certain national tradition; the authors use theoretical as well as empirical approaches. The volume encompasses ten figures and eleven tables.

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Jürgen Plöhn (D): Editorial ...................................................................................................... 7 CHAPTER ONE THEORETICAL ECONOMIC APPROACHES Corbett F. Gaulden (USA): Fiscal Mischief and Fiscal Constraint in the European Crisis ........................................................................... 11 JEL-Code: E420, E440, E580, H870 George Chobanov / Teodor Sedlarski (BG): On the Economic Policy Dilemma: Economic Darwinism versus Interventionism ................................. 21 JEL-Code: C300, E120, E130 Jean-Pierre Gern (CH): Is Competitiveness Development Self-defeating Through its Impact on Social Structures and Values? ..................... 39 JEL-Code: D210, D310, D410, D430 CHAPTER TWO STUDIES ON EUROPEAN ECONOMIES AND POLICY AREAS Luca Bartocci / Francesca Picciaia (I): Beyond State and Market: Towards a Participated Governance of Local Public Utilities? ....................................................................... 49 JEL-Code: G380, H110, H400, H420, H540, H830, R280 Christian Scheiner / Christian Baccarella / Stephan Hohenadl / Kai-Ingo Voigt (D): Embedded Systems in the European Metropolitan Region of Nuremberg – A Cluster Development Analysis ............. 75 JEL-Code: I250, O180, R300, R120, R580 Stefka Iankova (BG): Main Factors of Success in Mergers and Acquisitions’ Performance .................................................................... 99 JEL-Code: G340, L110 Contents 6 CHAPTER THREE SUSTAINABLE DEVELOPMENT IN THEORY AND APPLICATION Joachim Schwalbach (D): Sustainability: Why the Honourable Merchant Wins in the End .................................................................................... 119 JEL-Code: A 140, D010, D210, D630, G210, G020 Dieter Flämig (D): Social and Economic Strategies for a Sustainable Society .............. 123 JEL-Code: Q010, Q540, Q560 Andreas Scholz-Fleischmann (D): Infrastructure Economy as a Nucleus for More Sustainability ........................................................................ 145 JEL-Code: Q010, Q530, Q550 ATTACHMENT Editors and Contributors ............................................................................ 151

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