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From this main theory springs the sub-theory that the value of credit or money does not depend on the value of any metal or metals, but on the right which the creditor acquires to "payment," that is to say, to satisfaction for the credit, and on the obligation of the debtor to "pay" his debt and conversely on the right of the debtor to release ...
Whilst in theory the concept was sound, it meant that Enron's management could now deceive the markets for their own monetary gain, and they did just that. Higher management decided to take on high debt and risky activities, leaving these transactions 'off the books' and essentially meaning Enron was falsifying information.
Monetarism is an economic theory that focuses on the macroeconomic effects of the supply of money and central banking. Formulated by Milton Friedman , it argues that excessive expansion of the money supply is inherently inflationary , and that monetary authorities should focus solely on maintaining price stability .
A unit of account (in economics) [25] is a standard numerical monetary unit of measurement of the market value of goods, services, and other transactions. Also known as a "measure" or "standard" of relative worth and deferred payment, a unit of account is a necessary prerequisite for the formulation of commercial agreements that involve debt.
Cressey is credited with the theory of the "fraud triangle," three elements that are present in most cases of occupational fraud. [5] Cressey himself did not use this term during his lifetime. [ 6 ] For two of the three motivational factors identified by Cressey, he drew on the thoughts of the US-American sociologist of German-Danish origin ...
This theory is a key concept used to explore and resolve issues that have arisen within the relationship of agents and principals, which is known as the principal-agent problem. [41] The theory is subdivided into two categories: (1) the moral hazard model and; (2) the adverse selection model. To summarise the latter, adverse selection arises ...
O'Brien was accused of purported influence peddling. On 5 August 2009, both charges were dismissed. [4] In April 2009, former Newfoundland and Labrador politician Ed Byrne was convicted of influence peddling for his actions in the Constituency Allowance Scandal. He was the first of four politicians convicted in relation to the Scandal and the ...
In the very short run the money supply is normally predetermined by the past history of international payments flows. If the central bank is maintaining an exchange rate that is consistent with a balance of payments surplus, over time money will flow into the country and the money supply will rise (and vice versa for a payments deficit).