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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 .
In the 1920s, Charles Ponzi carried out this scheme and became well known throughout the United States because of the huge amount of money that he took in. [4] His original scheme was purportedly based on the legitimate arbitrage of international reply coupons for postage stamps, but he soon began diverting new investors' money to make payments ...
A matrix scheme (also known as a matrix sale or site, and as a hellevator, excavator or ladder scheme) is a business model involving the exchange of money for a certain product with a side bonus of being added to a waiting list for a product of greater value than the amount given. [1]
Academics have a theory called the “fraud triangle,” which argues that people are more inclined to commit fraud if they have incentive, rationalization, and opportunity. Gen Z is facing ...
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.
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 ...
In economics, Gresham's law is a monetary principle stating that "bad money drives out good". For example, if there are two forms of commodity money in circulation, which are accepted by law as having similar face value , the more valuable commodity will gradually disappear from circulation.
Business economics is a field in applied economics which uses economic theory and quantitative methods to analyze business enterprises and the factors contributing to the diversity of organizational structures and the relationships of firms with labour, capital and product markets. [1]