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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.
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.
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 willingness of Gen Z to engage in online fraud is a reflection of the complex interplay of economic pressures, changing consumer behaviors, and the influence of social media.
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 ...
Fraud and financial crime patterns have become more digital and faster changing, leveraging the underlying characteristics of the underlying digital payments infrastructures. This caused traditional rule based systems to be ineffective and led the way to machine learning and AI-based fraud detection techniques.
To keep the various groups in the organization, payments had to be in excess of what was required for the efficient working of the firm. The difference between the total resources and the necessary payments is called the organizational slack. In conventional economic theory organizational slack is zero, at least at equilibrium.
The Theory of Money and Credit is a 1912 economics book written by Ludwig von Mises, originally published in German as Theorie des Geldes und der Umlaufsmittel. In it Mises expounds on his theory of the origins of money through his regression theorem , which is based on logical argumentation.