Search results
Results from the WOW.Com Content Network
The Fifth Law of Gold. Gold flees the man who would force it to impossible earnings or who followeth the alluring advice of tricksters and schemers or who trusts it to his own inexperience and romantic desires in investment. [15] Arkad's advice here is about avoiding get-rich-quick or very aggressive wealth creation strategies. [2] [15]
Under Gresham's law, "good money" is money that shows little difference between its nominal value (the face value of the coin) and its commodity value (the value of the metal of which it is made, often precious metals, such as gold or silver). [4] The price spread between face value and commodity value when it is minted is called seigniorage.
Redistribution of income and wealth is the transfer of income and wealth (including physical property) from some individuals to others through a social mechanism such as taxation, welfare, public services, land reform, monetary policies, confiscation, divorce or tort law. [1]
The law of the value of commodities (German: Wertgesetz der Waren), [1] known simply as the law of value, is a central concept in Karl Marx's critique of political economy first expounded in his polemic The Poverty of Philosophy (1847) against Pierre-Joseph Proudhon with reference to David Ricardo's economics.
Earlier collections of laws include the code of Ur-Nammu, king of Ur (c. 2050 BC), the Code of Eshnunna (c. 1930 BC) and the Code of Lipit-Ishtar of Isin (c. 1870 BC). [4] These law codes formalized the role of money in civil society. They set amounts of interest on debt, fines for "wrongdoing", and compensation in money for various infractions ...
] Say's law implies that economy is always at its full employment level. This is not necessarily what Say proposed. In the Keynesian interpretation, [33] [unreliable source?] the assumptions of Say's law are: a barter model of money ("products are paid for with products"); flexible prices—that is, all prices can rapidly adjust upwards or ...
Positive cash flow is necessary for achieving financial stability and building wealth, but renters are disadvantaged compared to homeowners. Homeowners have nearly 40x the wealth of renters. But ...
There have been socialist critics of Lassalle and of the alleged iron law of wages both Marxist and Anarchist. Karl Marx, argued that although there was a tendency for wages to fall to subsistence levels, there were also tendencies which worked in opposing directions. [14] Marx criticized the Malthusian basis for the iron law of wages ...