scholarly journals The Relevance of Bitcoin to the Regression Theorem: A Reply to Luther

2020 ◽  
Vol 22 (4) ◽  
pp. 603-619
Author(s):  
George Pickering
Keyword(s):  
State Intervention ◽  
Purchasing Power ◽  
Apparent Lack ◽  
Regression Theorem

Given Bitcoin’s apparent lack of non-monetary uses, Luther (2018) argues that its emergence as a medium of exchange invalidates the regression theorem, or at least severely limits its relevance to identifying which commodities could emerge as media of exchange in the absence of State intervention. However, this view misinterprets both the regression theorem itself and the problem it was developed to address. The goal of the regression theorem was not to identify which commodities could become monies, but to provide a subjectivist explanation of the purchasing power of money. To do this, it requires only that some individuals valued the good in question before its use as a medium of exchange, not that it had some objective pre-monetary use.

Ultrastructure of Fibroblast Cultures, Lymphocytes, and Liver in Mucopolysaccharidoses Types I, II, III, IV, and VI.

1970 ◽  
Vol 28 ◽  
pp. 204-205
Author(s):  
George Hug ◽  
William K. Schubert ◽  
Shirley Soukup
Keyword(s):  
Lysosomal Enzyme ◽  
Apparent Lack ◽  
Fibroblast Cultures ◽  
Lysosomal Diseases ◽  
Disease Specificity ◽  
Deficient Activity

McKusick subdivided the syndrome of mucopolysaccharidoses into six types according to clinical, roentenographic, and genetic criteria and to the kind of mucopolysaccharide(s) excreted in the urine (1). Deficient activity of a lysosomal enzyme, (β-galactosidase, has recently been reported in types I, II and III of mucopolysaccharidoses as well as in generalized gangliosidosis (2). This apparent lack of disease specificity makes the enzymatic deficiency difficult to interpret. Nevertheless, the involvement of a lysosomal enzyme tends to characterize these disorders as lysosomal diseases.

“The Unconscious” in Current Psychology

2010 ◽  
Vol 15 (3) ◽  
pp. 193-201 ◽  
Author(s):  
Elisabeth Norman
Keyword(s):  
Cognitive Psychology ◽  
Verbal Report ◽  
Psychological Research ◽  
Operational Definition ◽  
The Unconscious ◽  
Apparent Lack ◽  
Unconscious Processing ◽  
Unconscious Processes ◽  
Intermediate States ◽  
Definition Of

A series of vignette examples taken from psychological research on motivation, emotion, decision making, and attitudes illustrates how the influence of unconscious processes is often measured in a range of different behaviors. However, the selected studies share an apparent lack of explicit operational definition of what is meant by consciousness, and there seems to be substantial disagreement about the properties of conscious versus unconscious processing: Consciousness is sometimes equated with attention, sometimes with verbal report ability, and sometimes operationalized in terms of behavioral dissociations between different performance measures. Moreover, the examples all seem to share a dichotomous view of conscious and unconscious processes as being qualitatively different. It is suggested that cognitive research on consciousness can help resolve the apparent disagreement about how to define and measure unconscious processing, as is illustrated by a selection of operational definitions and empirical findings from modern cognitive psychology. These empirical findings also point to the existence of intermediate states of conscious awareness, not easily classifiable as either purely conscious or purely unconscious. Recent hypotheses from cognitive psychology, supplemented with models from social, developmental, and clinical psychology, are then presented all of which are compatible with the view of consciousness as a graded rather than an all-or-none phenomenon. Such a view of consciousness would open up for explorations of intermediate states of awareness in addition to more purely conscious or purely unconscious states and thereby increase our understanding of the seemingly “unconscious” aspects of mental life.

Oil Prices: Limits to Growth and the Depth of Falling

2006 ◽  
pp. 28-41 ◽  
Author(s):  
I. Bashmakov
Keyword(s):  
Energy Demand ◽  
Negative Relationship ◽  
Oil Prices ◽  
Production Factor ◽  
Energy Costs ◽  
Purchasing Power ◽  
Limits To Growth ◽  
Technological Basis ◽  
Production Factors ◽  
Output Ratio

This article deals with the determination of future oil prices. The approach used is based on the evaluation of purchasing power limits and allows to put the limits to monopolistic price setting. Several important findings are formulated: going beyond the upper thresholds of purchasing power stipulates negative relationship between energy costs and GDP growth rates, and this brings the dynamics to energy demand to price elasticity. This approach is also based on what the author calls the economics of constants and variables, i.e. on the existence of very stable macroeconomic proportions, which may be observed throughout the whole period of statistical observations (over 200 years). It provides grounds for two conclusions. First, the upper limit of energy costs to the gross output ratio is determined by the least acceptable profitability. Second, the theoretical postulate on substantial production factors substitution used in the production functions theory may be incorrect. In reality, the change of the economy technological basis leads to the substitution of low quality production factor by the same factor with a higher quality. Application of this approach brings the basis for predicting oil prices for 2006-2008.

From Freezing to Investing: New Approaches to Monetary and Currency Policies

2008 ◽  
pp. 47-55
Author(s):  
A. Nekipelov ◽  
Yu. Goland
Keyword(s):  
Economic Policy ◽  
Property Rights ◽  
Main Idea ◽  
State Intervention ◽  
Economic Thought ◽  
Human Potential ◽  
Knowledge Based ◽  
Russian Economy ◽  
Knowledge Based Economy

The appeals to minimize state intervention in the Russian economy are counterproductive. However the excessive involvement of the state is fraught with the threat of building nomenclature capitalism. That is the main idea of the series of articles by prominent representatives of Russian economic thought who formulate their position on key elements of the long-term strategy of Russia’s development. The articles deal with such important issues as Russia’s economic policy, transition to knowledge-based economy, basic directions of monetary and structural policies, strengthening of property rights, development of human potential, foreign economic priorities of our state.

STRATEGY OF LIBERALIZATION AND PROBLEMS OF STATE REGULATION OF AZERBAIJAN ECONOMY

2019 ◽  
Vol 86 (3) ◽  
pp. 139-151
Author(s):  
G. Z. Yuzbashieva ◽  
A. M. Mustafayev ◽  
R. A. Imanov
Keyword(s):  
Economic Growth ◽  
Social Protection ◽  
State Intervention ◽  
Economic Transformation ◽  
State Regulation ◽  
Economic Relations ◽  
The Public ◽  
Private And Public ◽  
Sectoral Development ◽  
Market Relations

The indicators that determine the change in the macroeconomic situation in the economy of Azerbaijan in 2010–2017, as well as the conditions for increasing the effectiveness of state intervention in solving economic problems are analyzed. It is noted that it is not the size of the public sector that becomes important, but its qualitative component (management and redistribution of resources and revenues, coordination of government intervention in economic relations). The main reasons limiting economic growth are identified, and the mechanisms for overcoming them are disclosed, since economic growth is of particular importance in the transformational period of state development. It substantiates the assertion that the forms and methods of state regulation should be the result of a reasonable combination of the private and public sectors of the economy to more effectively achieve the goal of economic development of the country and increase the welfare of the population. To this end, it is advisable to limit the actions of market forces and find a rational ratio of market and government measures that stimulate economic growth and development.It is shown that in the near future the development of the economy of Azerbaijan should be focused on the transition to the integration of various models of economic transformation; at the same time, “attraction of investments” should be carried out by methods of stimulating consumption, and the concept of a socially oriented economy, which the state also implements, should prevail, thereby ensuring social protection of the population and at the same time developing market relations. Disproportions in regional and sectoral development are also noted, which are the result of an ineffective distribution of goods produced, inadequate investment in human capital, a low level of coordination and stimulation of economic growth and development.

Aftermath Effect Of GST On Consumer Purchasing Power

2019 ◽  
Vol 118 (5) ◽  
pp. 122-131
Author(s):  
S. Thowseaf ◽  
M. Ayisha Millath ◽  
K. Malik Ali
Keyword(s):  
Living Standard ◽  
Purchasing Power ◽  
Percentage Increase ◽  
Defense System ◽  
Key Factors ◽  
Predominant Role ◽  
Tax System ◽  
Significant Difference ◽  
The Individual ◽  
Taxation System

Tax is an important source of income for the country. It is through tax; country strengthens its defense system, infrastructure, and government. Hence, tax system plays a predominant role in developing country’s economy. The complication in taxation system and liberty for taxpayers are key factors generating loopholes for corruption. GST is superior taxation system over VAT but, if neither properly implemented nor scrutinized according to the economy, it is people residing get affected.  GST taxation system is capable of increasing legal transaction, reducing corruption and complexity that exists in current taxation. India is 166th country to adopt GST and GST taxation slab in India is 0%, 5%, 12%, 18% and 28%.  Although average Tax levied is 14.8750% in India, it is 28% tax that is levied for most of the commodities, which are directly or indirectly used in everyday life of common individuals. Despite, GST being favorable to distributor in-terms of profit and government to attain tax by increasing legal transaction through invoice. It is noted that for the same percentage of taxation, the amount does not vary for VAT and GST. The tax slab decreased for 71 commodities and no change in 21 commodities; there has been an increase in tax slab for 60 commodities. 26% taxation was levied for most commodities considered was currently levied by 28% taxation which is greater than before. It was found that average tax percentage reduced was calculated to be 6.07143. The average tax percentage increase was calculated to be 4.7833 percentage for the considered commodities. The overall tax average tax percentage is estimated to be 14.8750% which does not have a significant difference concerning tax levied before GST, which was calculated to be 15.7829% for considered commodities. Therefore, the consumer purchasing power and overall living standard of the individual in India will remain almost same.

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