Power Theory of Exchange and Money

Modern exchange theories model a large market, but do not explain single exchange. The paper considers the phenomenon of single exchange and formulates the general exchange problem in the form of a system of two equations, subjective and objective. Subjective equilibrium is given by the Walras-Jevons marginal utility equation. Objective equilibrium equations by Walras and Jevons are averaged over all transactions in the market and can only give a rough general picture without explaining the specific price of an individual exchange. An exchange micro-condition must be found that, when averaged, will give the Walras market equilibrium macro-condition. The study of the internal structure of exchange leads to the need to consider power. The concept of generalized power is introduced. It is generalized power that serves as the primary comparable and measurable objective basis of exchange. The power theory of exchange provides the objective price-equation. It is demonstrated that money is a measure of generalized power in exchange and a certification of generalized power in subsequent exchanges. The proposed theory is able to uniformly explain any exchange, including a single one, which is impossible with the existing theories of exchange.

Power Theory of Exchange and Money

Modern exchange theories model a large market, but do not explain single exchange. The paper considers the phenomenon of single exchange and formulates the general exchange problem in the form of a system of two equations, subjective and objective. Subjective equilibrium is given by the Walras-Jevons marginal utility equation. Objective equilibrium equations by Walras and Jevons are averaged over all transactions in the market and can only give a rough general picture without explaining the specific price of an individual exchange. An exchange micro-condition must be found that, when averaged, will give the Walras market equilibrium macro-condition. The study of the internal structure of exchange leads to the need to consider power. The concept of generalized power is introduced. It is generalized power that serves as the primary comparable and measurable objective basis of exchange. The power theory of exchange provides the objective price-equation. It is demonstrated that money is a measure of generalized power in exchange and a certification of generalized power in subsequent exchanges. The proposed theory is able to uniformly explain any exchange, including a single one, which is impossible with the existing theories of exchange.

Status Quo of Piano Coach in China

The major of piano coach nowadays has a large market demand and is promising in China, and should be attached great importance. However, many music learners in China believe that the students of the piano studies major are sufficiently competent in the work of piano coach, and they often confuse piano coach with piano accompaniment. Although the two majors both require deep understanding of music and good performance skills, they are different in many aspects. The piano coach requires practitioners to have rigorous logic, rich content, corresponding mastery and understanding of the universal law of art and other qualities.

Computing Large Market Equilibria Using Abstractions

Computing market equilibria is an important practical problem for market design, for example, in fair division of items. However, computing equilibria requires large amounts of information, often the valuation of every buyer for every item, and computing power. In “Computing Large Market Equilibria Using Abstractions,” the authors study abstraction methods for ameliorating these issues. The basic abstraction idea is as follows. First, construct a coarsened abstraction of a given market, then solve for the equilibrium in the abstraction, and finally, lift the prices and allocations back to the original market. The authors show theoretical guarantees on the solution quality obtained via this approach. Then, two abstraction methods of interest for practitioners are introduced: (1) filling in unknown valuations using techniques from matrix completion and (2) reducing the problem size by aggregating groups of buyers/items into smaller numbers of representative buyers/items and solving for equilibrium in this coarsened market.

Egypt's tech pioneers aspire to a global role

Significance These came after leading fintech firm, Fawry, achieved ‘unicorn’ status in August 2020 with a market valuation over USD1bn, and after transportation app Swvl announced plans to list on the Nasdaq. These deals highlight Egypt’s attraction for investors, owing to its large market, strong growth potential and close ties to financial and talent centres in the Gulf. Impacts Communications will remain the fastest-growing sector of the Egyptian economy in the coming years. Investment in upgrading the fixed mobile network is rising, but with input from the military. Tech-based services catering to women will have a substantial market.

The Location Choice of Foreign Direct Investment and Economic Development in Africa

Foreign Direct Investment (FDI) inflow to Africa has unevenly distributed investment location choices of multinational enterprises because of some exogenous economic factors associated with the locations, which vary across countries in Africa. The data used in the paper comes from Financial Times, World Bank, African Development Bank. This paper investigated what determines the location choice of FDI inflow to Africa using data on 3,768 firms from 88 countries making location choices in 54 African countries using a multicategory logistic regression. The findings show that: (1) the natural resource seeking enterprises invest more in landlocked countries relative to manufacturing and tertiary sector; (2) the natural resource seeking firms are less concerned about local market size and location’s economic condition comparing to manufacturing and service industries; (3) despite the accusation against the multinational enterprises (MNEs) for exploiting Africa’s natural resources, most of the MNEs choose locations with a large market size and better economic development; (4) the MNEs from developed economies prefer the location with a large market size and a better-developed economy comparing to those from the developing economies.

UMKM East Java Based On Innovation

UMKM in East Java can growth when goverment help UMKM with Innovation. The development of UMKM in East Java is supported by several factors, namely the wide landscape of East Java, large market potential, large population and abundant natural resources that can be used. With these factors, the development of UMKM in the East Java region can be carried out effectively so that UMKM can develop evenly and according to the target.UMKM in East Java based on innovation have very high potential to be able to improve and become a driving force for the East Java economy.

Indonesia Sharia Bank Merger Process Reviewed from Business Competition Laws

Islamic bank entities in Indonesia, namely BNI Syariah, BRI Syariah, and Bank Syariah Mandiri have merged to become Bank Syariah Indonesia. The merger process was effective on February 1, 2021. As we know, the three banks are state-owned, which have significant assets and have a reasonably large market in Indonesia. In connection with business competition law which seeks to create a fair business competition situation in Indonesia, every corporate action, including merger activities, must be notified to the Business Competition Supervision Commission (hereinafter as KPPU) to assess whether monopolistic practices or unfair business competition have occurred or not. The notification is an effort to supervise every business actor in order to carry out activities that do not violate business competition and do not harm other parties. This study aims to examine normatively the merger process carried out based on business competition law in Indonesia. The research uses materials from both regulations, legal principles, doctrine, and sources related to the subject matter. The data obtained were then analyzed for further analysis to produce conclusions. The results showed that the merger process between the three Islamic banks in Indonesia did not violate the business competition law because it did not occur in a position monopoly and the absence of monopolistic practices.

Exploring the Prospects for Islamic Home Finance in the UK: Evidence from the Industry Practitioners’ Perspective

The predominant focus of most of the existing literature assessing the potential of Islamic home finance in the UK has been on Muslim customersand also appears to be outdated. This updated study takes a fresh approach, exploring the prospects for Islamic home finance taking into account the UK’s current financial position by involving neglected key stakeholders: independent mortgage consultants. The findings—derived from semi-structured interviews with a sample of ten experienced mortgage brokers—reveal that factors such as affordability (i.e. higher deposits), acceptability (i.e. strict criteria), accessibility (i.e. lack of products and banks),and low levels of product knowledge and recognition have restricted its uptake. The findings also highlight that the Muslim community does not provide a sufficiently large market for Islamic home finance and,as such,it has a limited scope in the UK market.