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The Philosophy of Money (1900; German: Philosophie des Geldes) [1] is a book on economic sociology by German sociologist and social philosopher Georg Simmel. [2] Considered to be the theorist's greatest work, Simmel's book views money as a structuring agent that helps people understand the totality of life. [2]
Thus Keynes's final conclusion may be acceptable to readers who question the arguments along the way. However he shows a persistent tendency to think in terms of the Chapter 13 theory while nominally accepting the Chapter 15 correction. [15] Chapter 13 presents the first theory in rather metaphysical terms. Keynes argues that:
The Psychology of Man's Possible Evolution and The Cosmology of Man's possible Evolution, a limited edition of the definitive text of his Psychological and Cosmological Lectures, 1934–1945. Agora Books, East Sussex, 1989. ISBN 1-872292-00-3. P. D. Ouspensky Memorial Collection, Yale University Library. Archive notes taken from meetings during ...
One of the most famous examples of the endowment effect in the literature is from a study by Daniel Kahneman, Jack Knetsch & Richard Thaler, [4] in which Cornell University undergraduates were given a mug and then offered the chance to sell it or trade it for an equally valued alternative (pens). They found that the amount participants required ...
A recent trend in some monetary systems as inflation gradually reduces the value of money is to eliminate the smallest denomination coin (typically 0.01 of the local currency). The total cost of purchased items is then rounded up or down to, for example, the nearest 0.05. This may have an effect on future just-below pricing, especially at small ...
Roger Money-Kyrle is known for his concept of the basic facts of life, which to him are three undeniable facts that characterize human existence. [6] These are: A person's initial dependence on the mother's breast – "the breast as a supremely good object";
Legal tender, or narrow money (M0) is the cash created by a Central Bank by minting coins and printing banknotes. Bank money, or broad money (M1/M2) is the money created by private banks through the recording of loans as deposits of borrowing clients, with partial support indicated by the cash ratio. Currently, bank money is created as ...
The book (and Edward Skidelsky's writing generally [2]) looks into the idea of the good life and how capitalism may have been the key to it, but we have now lost sense of the good life as a priority. The solutions offered to this problem are to "curb insatiability" and to consider a form of basic income for society.