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Goodhart's law is an adage often stated as, "When a measure becomes a target, it ceases to be a good measure". [1] It is named after British economist Charles Goodhart, who is credited with expressing the core idea of the adage in a 1975 article on monetary policy in the United Kingdom: [2]
[71] Between 2000 and 2003, the interest rate on 30-year fixed-rate mortgages fell 2.5 percentage points (from 8% to all-time historical low of about 5.5%). The interest rate on one-year adjustable rate mortgages (1/1 ARMs) fell 3 percentage points (from about 7% to about 4%). Richard Fisher, president of the Dallas Fed, said in 2006 that the ...
A crime opportunity requires that elements converge in time and place including a motivated offender, suitable target or victim, and lack of a capable guardian. [63] A guardian at a place, such as a street, could include security guards or even ordinary pedestrians who would witness the criminal act and possibly intervene or report it to law ...
In economics, dishoarding is the opposite of hoarding.In the case of hoarding emphasized most by macroeconomics, someone increases his or her holdings of money as an asset (for safety, to diversify assets, because of expected returns, or because of irrationality) rather than using money simply as a tool for buying goods and services (a medium of exchange).
Another early form of the theory was proposed by Reiss (1951) [3] who defined delinquency as, "...behavior consequent to the failure of personal and social controls." ." Personal control was defined as, "...the ability of the individual to refrain from meeting needs in ways which conflict with the norms and rules of the community" while social control was, "...the ability of social groups or ...
Here’s what the letters represent: A is the amount of money in your account. P is your principal balance you invested. R is the annual interest rate expressed as a decimal. N is the number of ...
Contrary to the general theory of crime that presents low self-control as a characteristic of an individual that influences one's behavior, the criminal spin theory [9] presents the reduction of self-control as a phenomenological process. This process can be acute, a one-time only that is not typical to the individual, or it can develop into a ...
This caused Countrywide's financial condition to deteriorate, ultimately resulting in a decision by the Office of Thrift Supervision to seize the lender. One Countrywide employee—who would later plead guilty to two counts of wire fraud and spent 18 months in prison—stated that, "If you had a pulse, we gave you a loan." [325]