Moscow, Russia

Finance, money circulation and credit

Language: English Studies in English
Subject area: economy and administration
University website: www.rudn.ru
3 years
Finance
Finance is a field that deals with the study of investments. It includes the dynamics of assets and liabilities over time under conditions of different degrees of uncertainties and risks. Finance can also be defined as the science of money management. Market participants aim to price assets based on their risk level, fundamental value, and their expected rate of return. Finance can be broken into three sub-categories: public finance, corporate finance and personal finance.
Money
Money is any item or verifiable record that is generally accepted as payment for goods and services and repayment of debts in a particular country or socio-economic context. The main functions of money are distinguished as: a medium of exchange, a unit of account, a store of value and sometimes, a standard of deferred payment. Any item or verifiable record that fulfills these functions can be considered as money.
Money
The money pigs of capitalist democracy… Money has made slaves of us… Money is the curse of mankind. It smothers the seed of everything great and good. Every penny is sticky with sweat and blood.
Joseph Goebbels, quoted in The Nazi Party: A Complete History 1919-1945, Dietrich Orlow, New York: NY, Enigma Books, 2012, p 61. Goebbels’ article, “Nationalsozialisten aus Berlin und aus dem Reich”, Voelkischer Beobachter, Feb. 4, 1927
Finance
The best scheme of finance is, to spend as little as possible; and the best tax is always the lightest.
Jean-Baptiste Say A Treatise On Political Economy (Fourth Edition) (1832) Book III, On Consumption, Chapter VIII, Section I, p. 449
Finance
There’s no longer any reason to believe that the wizards of Wall Street actually contribute anything positive to society, let alone enough to justify those humongous paychecks. ... It’s hard to think of any major recent financial innovations that actually aided society, as opposed to being new, improved ways to blow bubbles, evade regulations and implement de facto Ponzi schemes.
Paul Krugman, "Money For Nothing," The New York Times, April 26, 2009
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