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I believe the discipline of Economics has a fatal flaw - it assumes a degree of rationality of which our specie is devoid. It also assumes you can reason with power - you cannot. Finally, and fatally, it has failed to integrate globalization into any of its fundamental schools of thought. All the rational argument in the world will not convince those in power (by wealth, social position or politics) to act rationally because 1. it would not be in their interest to do so 2. because that minority, elite, rich, powerful, many sociopaths and/or - already know the rational positions of the various schools, and they have made it their ...
Electronic money is a recent invention which means that currency with real value can be exchanged for traditional cash; it is instead entirely virtual or digital. It is a new invention in the history of money and commerce. Electronic money only exists in digital format and is primarily based on the internet or smart cards that have a record of their stored value. The transactions which are electronically done are known as electronic money. Similar names for electronic money are electronic cash, e-money, digital money, digital currency or digital cash. The computer age has made the creation ... Read More
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