Blagoevgrad, Bulgaria

Finance, Money Circulation, Credit and Insurance .

Table of contents

⇑Finance, Money Circulation, Credit and Insurance . at South-West University "Neofit Rilski"

Language: English Studies in English
Subject area: economy and administration
University website: www.swu.bg
Type: PhD/Doctoral programme
Academic degree: Doctor (доктор)
Duration: 3–4 years

⇑Definitions and quotes

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.
Insurance
Insurance is a means of protection from financial loss. It is a form of risk management, primarily used to hedge against the risk of a contingent or uncertain loss.
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.
Insurance
Should any political party attempt to abolish social security, unemployment insurance, and eliminate labor laws and farm programs, you would not hear of that party again in our political history.
Dwight D. Eisenhower in: Joe Soss, et al., Remaking America: Democracy and Public Policy in and Age of Inequality, Russell Sage Foundation, 8 November 2007, p. 149.
Money
That's right. While economic textbooks claim that people and corporations are competing for markets and resources, I claim that in reality they are competing for money - using markets and resources to do so. So designing new money systems really amounts to redesigning the target that orients much human effort.
Furthermore, I believe that greed and competition are not a result of immutable human temperament; I have come to the conclusion that greed and fear of scarcity are in fact being continuously created and amplified as a direct result of the kind of money we are using. For example, we can produce more than enough food to feed everybody, and there is definitely enough work for everybody in the world, but there is clearly not enough money to pay for it all. The scarcity is in our national currencies. In fact, the job of central banks is to create and maintain that currency scarcity. The direct consequence is that we have to fight with each other in order to survive.
Money is created when banks lend it into existence. When a bank provides you with a $100,000 mortgage, it creates only the principal, which you spend and which then circulates in the economy. The bank expects you to pay back $200,000 over the next 20 years, but it doesn't create the second $100,000 - the interest. Instead, the bank sends you out into the tough world to battle against everybody else to bring back the second $100,000.
Bernard Lietaer, economist, one of the designers of the Euro, Yes! A Journal of Positive Futures, Spring 1997 (pdf).
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
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