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The central assertion that social contract theory approaches is that law and political order are not natural, but human creations. The social contract and the political order it creates are simply the means towards an end—the benefit of the individuals involved—and legitimate only to the extent that they fulfill their part of the agreement.
The criticism that social credit policies are inflationary is based upon what economists call the quantity theory of money, which states that the quantity of money multiplied by its velocity of circulation equals total purchasing power. Douglas was quite critical of this theory stating, "The velocity of the circulation of money in the ordinary ...
In economics, economic rent is any payment to the owner of a factor of production in excess of the costs needed to bring that factor into production. [1] In classical economics, economic rent is any payment made (including imputed value) or benefit received for non-produced inputs such as location and for assets formed by creating official privilege over natural opportunities (e.g., patents).
The formula factors in the present value of money, ... Knowing the time value of money can help you weigh the costs and benefits of various investment and financial options. While it’s not the ...
Social value is a concept used in the public sector and in philanthropic contexts to cover the net social, environmental and economic benefits of individual and collective actions for which the concepts of economic value or profit are inadequate.
The Social Contract helped inspire political reforms or revolutions in Europe, especially in France. The Social Contract argued against the idea that monarchs were divinely empowered to legislate. Rousseau asserts that only the general will of the people has the right to legislate, for only under the general will can the people be said to obey ...
Interpretation: The value of a call is the risk free rated present value of its expected in the money value - i.e. a specific formulation of the fundamental valuation result. N ( d 2 ) {\displaystyle N(d_{2})} is the probability that the call will be exercised; N ( d 1 ) S {\displaystyle N(d_{1})S} is the present value of the expected asset ...
Resources can be owned by (and hence be the property of) individuals, associations, collectives, or governments. [2] Property rights can be viewed as an attribute of an economic good. This attribute has three broad components, [3] [4] [5] and is often referred to as a bundle of rights in the United States: [6] the right to use the good