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Both relate to the degree of coupling (i.e., the strength of the dyadic relationship) between payment and consumption as influencing the severity of the pain of paying. A second theory which looks into the effect of payment method on the pain of paying is the theory of decoupling, as proposed by Raghubir and Srivastava. [27]
The Economics of Innocent Fraud: Truth for Our Time was Harvard economist John Kenneth Galbraith's final book, published by Houghton Mifflin in 2004. [1] It is a 62-page essay that recapitulates themes—such as the dominance of corporate power in the public sector and the role of advertising in shaping consumer demand—found in earlier works.
Illicit financial flows, in economics, are a form of illegal capital flight that occurs when money is illegally earned, transferred, or spent. This money is intended to disappear from any record in the country of origin, and earnings on the stock of illicit financial flows outside a country generally do not return to the country of origin.
(Any model based on a flawed theory, cannot transcend the limitations of that theory.) Joseph Stiglitz' 2001 Nobel Prize lecture reviews his work on information asymmetries, [1] which contrasts with the assumption, in standard models, of "perfect information". Stiglitz surveys many aspects of these faulty standard models, and the faulty policy ...
The just price is a theory of ethics in economics that attempts to set standards of fairness in transactions. With intellectual roots in ancient Greek philosophy , it was advanced by Thomas Aquinas based on an argument against usury , which in his time referred to the making of any rate of interest on loans .
The redemption movement is an element of the pseudolaw movement, mainly active in the United States and Canada, that promotes fraudulent debt and tax payment schemes. [1] The movement is also called redemptionism. [2]
Fraud can violate civil law or criminal law, or it may cause no loss of money, property, or legal right but still be an element of another civil or criminal wrong. [1] The purpose of fraud may be monetary gain or other benefits, for example by obtaining a passport, travel document, or driver's license, or mortgage fraud, where the perpetrator ...
Standard economic theory suggests that in relatively open international financial markets, the savings of any country would flow to countries with the most productive investment opportunities; hence, saving rates and domestic investment rates would be uncorrelated, contrary to the empirical evidence suggested by Martin Feldstein and Charles ...