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Money Burning
Money burning or burning money is the purposeful act of destroying money. In the prototypical example, banknotes are destroyed by setting them on fire. Burning money decreases the wealth of the owner without directly enriching any particular party. It also reduces the money supply and (very slightly) slows down the inflation rate. Money is usually burned to communicate a message, either for artistic effect, as a form of protest, or as a signalling (economics), signal. In some game theory, games, a player can sometimes benefit from the ability to burn money (Battle of the sexes (game theory)#Burning money, battle of the sexes). The burning of money is illegal in some jurisdictions. Macroeconomic effect For the purposes of macroeconomics, burning money is equivalent to removing the money from circulation, and locking it away forever; the salient feature is that no one may ever use the money again. Burning money shrinks the money supply, and is therefore a special case of contract ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Burn Your Money
A burn is an injury to skin, or other tissues, caused by heat, electricity, chemicals, friction, or ionizing radiation (such as sunburn, caused by Ultraviolet, ultraviolet radiation). Most burns are due to heat from hot fluids (called scalding), solids, or fire. Burns occur mainly in the home or the workplace. In the home, risks are associated with domestic kitchens, including stoves, flames, and hot liquids. In the workplace, risks are associated with fire and chemical and Electrical injury, electric burns. Alcoholism and smoking are other risk factors. Burns can also occur as a result of self-harm or violence between people (assault). Burns that affect only the superficial skin layers are known as superficial or first-degree burns. They appear red without blisters, and pain typically lasts around three days. When the injury extends into some of the underlying skin layer, it is a partial-thickness or second-degree burn. Blisters are frequently present and they are often v ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Steven Landsburg
Steven E. Landsburg (born February 24, 1954) is an American professor of economics at the University of Rochester in Rochester, New York. From 1989 to 1995, he taught at Colorado State University. Landsburg is also an outspoken commentator on economic, legal, and political issues whose comments have sometimes been regarded as controversial. Education Landsburg was an undergraduate at the University of Rochester. He received a PhD in mathematics from the University of Chicago in 1979. Writings and work Commentary and opinions Landsburg wrote a column on "everyday economics" for ''Slate'' magazine from 1996 to 2008. The subjects of the columns were diverse and often drew on current affairs. In them, Landsburg discussed the national debt, the obesity crisis, payments to Hurricane Katrina evacuees in New Orleans and salary caps in the NFL. Landsburg also discussed recent research in micro-economics and its implications, as in an article on the value of mobile phones and drivin ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Monetary Policy
Monetary policy is the policy adopted by the monetary authority of a nation to affect monetary and other financial conditions to accomplish broader objectives like high employment and price stability (normally interpreted as a low and stable rate of inflation). Further purposes of a monetary policy may be to contribute to economic stability or to maintain predictable exchange rates with other currencies. Today most central banks in developed countries conduct their monetary policy within an inflation targeting framework, whereas the monetary policies of most developing countries' central banks target some kind of a fixed exchange rate system. A third monetary policy strategy, targeting the money supply, was widely followed during the 1980s, but has diminished in popularity since then, though it is still the official strategy in a number of emerging economies. The tools of monetary policy vary from central bank to central bank, depending on the country's stage of development, inst ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Counterfeit Money
Counterfeit money is currency produced outside of the legal sanction of a state or government, usually in a deliberate attempt to imitate that currency and so as to deceive its recipient. Producing or using counterfeit money is a form of fraud or forgery, and is illegal in all jurisdictions of the world. The business of counterfeiting money is nearly as old as money itself: plated copies (known as Fourrées) have been found of Lydian coins, which are thought to be among the first Western coins. Before the introduction of paper money, the most prevalent method of counterfeiting involved mixing base metals with pure gold or silver. Another form of counterfeiting is the production of documents by legitimate printers in response to fraudulent instructions. During World War II, the Nazis forged British pounds and American dollars. Today, some of the finest counterfeit banknotes are called '' Superdollars'' because of their high quality and imitation of the real US dollar. There has ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Heist Film
The heist film or caper film is a subgenre of crime films and the caper story, focused on the planning, execution, and aftermath of a significant robbery. One of the early defining heist films was '' The Asphalt Jungle'' (1950), which ''Film Genre 2000'' wrote "almost single-handedly popularized the genre for mainstream cinema". It featured robbers whose personal failings ultimately led to the failure of their robbery. Similar films using this formula were '' Armored Car Robbery'' (1950), '' The Killing'' (1956), and '' The Getaway'' (1972). By the 1990s, heist films began to "experiment and play with these conventions," incorporating elements such as comedy into their stories. Characteristics of the genre While there is no unanimous agreement on what constitutes a heist film, there are some common characteristics that most films in the genre share. The most basic is that films in the genre tend to follow the planning, execution and aftermath of one large robbery. While ther ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mad Money (film)
''Mad Money'' is a 2008 crime comedy film starring Diane Keaton, Queen Latifah and Katie Holmes, and directed by Callie Khouri. It is loosely based on the 2001 British television film '' Hot Money''. Released on January 18, 2008, It is the first film to be distributed by Overture Films. Plot The film begins with the suspects getting caught and being interrogated. Then it flashes back three years earlier and the film continues forward from there, interspersed with occasional bits from the interrogation. Three years before getting caught, Bridget Cardigan (Diane Keaton) lived a comfortable upper middle-class life until her husband Don Cardigan (Ted Danson) was "downsized" from his position and sank into debt. Salina, (Sylvia Castro Galan) the Cardigan's housekeeper, check has bounced once again. Selina confronts Bridget and suggests she take a job as a janitor at the Federal Reserve Bank of Kansas City. On her first day on the job, Bridget hatches a scheme to steal worn-out dol ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Hot Money
In economics, hot money is the flow of funds (or capital) from one country to another in order to earn a short-term profit on interest rate differences and/or anticipated exchange rate shifts. These speculative capital flows are called "hot money" because they can move very quickly in and out of markets, potentially leading to market instability. Illustration of hot money flows The following simple example illustrates the phenomenon of hot money: In the beginning of 2011, the national average rate of one year certificate of deposit in the United States is 0.95%. In contrast, China's benchmark one year deposit rate is 3%. The Chinese currency (renminbi) is seriously undervalued against the world's major trading currencies and therefore is likely to appreciate against the US dollar in the coming years. Given this situation, investor in the US depositing money in a Chinese bank would get a higher return than deposits in a US bank. This makes China a prime target for hot money inflow ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank Of England
The Bank of England is the central bank of the United Kingdom and the model on which most modern central banks have been based. Established in 1694 to act as the Kingdom of England, English Government's banker and debt manager, and still one of the bankers for the government of the United Kingdom, it is the world's second oldest central bank. The bank was privately owned by stockholders from its foundation in 1694 until it was nationalised in 1946 by the Attlee ministry. In 1998 it became an independent public organisation, wholly owned by the Treasury Solicitor on behalf of the government, with a mandate to support the economic policies of the government of the day, but independence in maintaining price stability. In the 21st century the bank took on increased responsibility for maintaining and monitoring financial stability in the UK, and it increasingly functions as a statutory Financial regulation, regulator. The bank's headquarters have been in London's main financial di ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Loughton Incinerator Thefts
The Loughton incinerator thefts occurred between 1988 and 1992 at the Bank of England's incinerator plant at Debden in Loughton, Essex – four employees of the plant stole more than in a series of regular thefts. The four participants and their spouses were arrested in 1992, with only one being prosecuted in criminal court. In a civil suit, the remaining members of the group were ordered to repay half a million pounds to the bank. The story of the case has been adapted into two feature-length films. Thefts Between 1988 and 1992, four employees of the Bank of England's incinerator plant at Debden in Loughton, Essex, conspired to steal around £600,000 in banknotes that were due to be destroyed, in a series of thefts. They changed padlocks on locked doors in order to be able to steal from piles of notes which had been taken out of circulation. One participant, Christine Gibson, smuggled the notes out of the plant by stuffing them into her underwear. Gibson initially worked in col ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Labour Economics
Labour economics seeks to understand the functioning and dynamics of the Market (economics), markets for wage labour. Labour (human activity), Labour is a commodity that is supplied by labourers, usually in exchange for a wage paid by demanding firms. Because these labourers exist as parts of a social, institutional, or political system, labour economics must also account for social, cultural and political variables. Labour markets or job markets function through the interaction of workers and employers. Labour economics looks at the suppliers of labour services (workers) and the demanders of labour services (employers), and attempts to understand the resulting pattern of wages, employment, and income. These patterns exist because each individual in the market is presumed to make rational choices based on the information that they know regarding wage, desire to provide labour, and desire for leisure. Labour markets are normally geographically bounded, but the rise of the internet ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Thomas Nixon Carver
Thomas Nixon Carver (25 March 1865 – 8 March 1961) was an American economics professor. Early life He grew up on a farm, the son of Quaker parents. He received an undergraduate education at Iowa Wesleyan College and the University of Southern California. After studying under John Bates Clark and Richard T. Ely at Johns Hopkins University, he received a PhD degree at Cornell University under Walter Francis Willcox in 1894. Career He held a joint appointment in economics and sociology at Oberlin College until 1902, when he accepted a position as professor of political economy at Harvard University (1902–1935). For a time, there he taught the only course in sociology. He was the secretary-treasurer of the American Economic Association (1909–1913) and was elected its president in 1916. Carver's principal achievement in economic theory was to extend Clark's theory of marginalism to determination of interest from saving ('abstinence') and productivity of capital. He made pion ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States Treasury
The Department of the Treasury (USDT) is the national treasury and finance department of the federal government of the United States. It is one of 15 current U.S. government departments. The department oversees the Bureau of Engraving and Printing and the U.S. Mint, two federal agencies responsible for printing all paper currency and minting coins. The treasury executes currency circulation in the domestic fiscal system, collects all federal taxes through the Internal Revenue Service, manages U.S. government debt instruments, licenses and supervises banks and thrift institutions, and advises the legislative and executive branches on fiscal policy. The department is administered by the secretary of the treasury, who is a member of the Cabinet. The treasurer of the United States has limited statutory duties, but advises the Secretary on various matters such as coinage and currency production. Signatures of both officials appear on all Federal Reserve notes. The dep ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
