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The last two decades have been marked by a dramatic increase in global attention to the concept of governance, especially in relation to the eff- tive and sustainable management of natural resources. During this period, issues of water governance have received particular attention, for example in relation to the provision of reliable water supplies as a catalyst for p- erty eradication. Within the context of the Millennium Development Goals, and against a backdrop of an increasing frequency of water crises (ranging from widespread flooding to severe water scarcity), it is essential that each country (and particularly those countries that face development challenges) should be in a position to ensure that access to water is ava- able to those who need it most. This issue has been highlighted by the Global Water Partnership, which stated that the water crisis facing the world is in reality a crisis of governance. The South African political environment has changed dramatically in recent years, and the central concepts of social equity and the right to a healthy environment are now entrenched in the country’s Constitution. These concepts are supported by several new laws, in particular the - tional Environmental Management Act and the National Water Act, which, in turn, are based on the principles of sustainable development. However, despite the highly desirable attributes of these landmark pieces of legis- tion, South African authorities are still struggling to implement the - quirements of these Acts almost a decade after their promulgation.

The last two decades have been marked by a dramatic increase in global attention to the concept of governance, especially in relation to the eff- tive and sustainable management of natural resources. During this period, issues of water governance have received particular attention, for example in relation to the provision of reliable water supplies as a catalyst for p- erty eradication. Within the context of the Millennium Development Goals, and against a backdrop of an increasing frequency of water crises (ranging from widespread flooding to severe water scarcity), it is essential that each country (and particularly those countries that face development challenges) should be in a position to ensure that access to water is ava- able to those who need it most. This issue has been highlighted by the Global Water Partnership, which stated that the water crisis facing the world is in reality a crisis of governance. The South African political environment has changed dramatically in recent years, and the central concepts of social equity and the right to a healthy environment are now entrenched in the country’s Constitution. These concepts are supported by several new laws, in particular the - tional Environmental Management Act and the National Water Act, which, in turn, are based on the principles of sustainable development. However, despite the highly desirable attributes of these landmark pieces of legis- tion, South African authorities are still struggling to implement the - quirements of these Acts almost a decade after their promulgation.

Dies ist die überarbeitete und erweiterte Auflage des im Jahre 1970 erschienenen Buches Probleme der Geldtheorie. Von den ins­ gesamt 307 Seiten sind 178 überarbeitet und 129 Seiten durch 243 Seiten ersetzt worden. An die Stelle von sieben Kapiteln sind elf Kapitel getreten. Die Geldtheorie, so wie sie in dieser zweiten Auflage konzipiert worden ist, umfaßt die Rolle des Geldes, die Geldnachfrage, das Geldangebot und den Geldmarkt. Die neuen Kapitel befassen sich mit dem Geldangebot und dem Geldmarkt. Im Vergleich zur er­ sten Auflage ist die Geldtheorie, was den Geldmarkt angeht, so­ wohl eingeengt als auch erweitert worden. Die Einengung bezieht sich auf eine neue (bzw. klassische) Abgrenzung zwischen der ma­ kroökonomischen Theorie und der Geldtheorie; als makroökono­ mische Geldtheorie haben wir jene makroökonomische Theorie definiert, die sich mit der langfristigen Bestimmung des Preis­ niveaus und der Inflation befaßt. Die Erweiterung behandelt die ebenfalls schwierige Abgrenzung zwischen monetärer Außenwirt­ schaftstheorie und Geldtheorie; als die außenwirtschaftliche Kom­ ponente der Geldtheorie haben wir jene Geldmarkttheorie ge­ wählt, die die Bestimmung der Zahlungsbilanz und des Wechsel­ kurses zum Gegenstand hat. Da wir versucht haben, in diesem Buch ein geschlossenes Bild der Geldtheorie zu entwerfen, haben wir es Grundlagen der Geld­ theorie genannt. Dieser für manchen Leser prätentiös erscheinende Titel ist jedoch - so glauben wir - angesichts der Erweiterungen im Vergleich zur ersten Auflage gerechtfertigt.