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Multilateral Exchange
A multilateral exchange is a transaction, or forum for transactions, which involve more than two parties. For example, Alice gives Bob an apple in exchange for an orange, that is a bilateral exchange. A multilateral exchange would involve a third party, for example: Alice gives an apple to Bob who gives an orange to Charles, who gives a pear to Alice. In the real world, such transactions are spread over time, involve items of different values, and involve many more parties. A special type of accounting is used for this, called mutual credit, or credit clearing. Accounting Although any accounting framework can be used, there is one approach that fits naturally for multilateral exchange. It is the simplest possible database/spreadsheet design, single-entry bookkeeping rather than double-entry bookkeeping. All accounts begin with a balance of zero, meaning they owe nothing and are owed nothing. An account may only close at zero, meaning it has given as much as it has received, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Mutual Credit
"Mutual credit" (sometimes called " multilateral barter" or " credit clearing") is a term mostly used in the field of complementary currencies to describe a common, usually small-scale, endogenous money system. In a mutual credit system, creditors and debtors are the same people lending to each other. Transactions are recorded on a ledger, and a given individual or firm's balance is the sum of all their transactions positive or negative. Economics Once a common unit of account is agreed upon, and the extent to which members can draw credit is limited, a mutual credit system resembles a money system in which currency is created and destroyed with every transaction. Meaning of 'mutual' Practitioners and theoreticians in the complementary currency movement do not use the term in a consistent way. It could mean that * creditors and debts are the same people at different times * default risk is shared between all members of the circle (not necessarily distributed equally or even i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Credit Clearing
Credit clearing is the practice according to which a small group of banks need to make many payments to each other, of adding up the payments and cancelling them out before settling the remainder. While clearing is about waiting for the payment to go through, credit clearing is about cancelling out a payment with one coming in the opposite direction. This process originated between all the banks in London, who would send their checks to the clearing house at the end of each day. After the calculations were made there would be a single payment to or from each bank. In 21st century with spreadsheets and blockchains, this process tends to be fully automated. The mechanism is used not only by banks, but in any multilateral exchange situation. Many complementary currencies work this way, calling it mutual credit "Mutual credit" (sometimes called " multilateral barter" or " credit clearing") is a term mostly used in the field of complementary currencies to describe a common, usuall ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Single-entry Bookkeeping System
Single-entry may refer to: * Single-entry bookkeeping system, a method of bookkeeping relying on a one-sided accounting entry to maintain financial information * Single-entry matrix, a matrix where a single element is one and the rest of the elements are zero {{disambiguation ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Double-entry Bookkeeping System
Double-entry bookkeeping, also known as double-entry accounting, is a method of bookkeeping that relies on a two-sided accounting entry to maintain financial information. Every entry to an account requires a corresponding and opposite entry to a different account. The double-entry system has two equal and corresponding sides, known as debit and credit; this is based on the fundamental accounting principle that for every debit, there must be an equal and opposite credit. A transaction in double-entry bookkeeping always affects at least two accounts, always includes at least one debit and one credit, and always has total debits and total credits that are equal. The purpose of double-entry bookkeeping is to allow the detection of financial errors and fraud. For example, if a business takes out a bank loan for $10,000, recording the transaction in the bank's books would require a DEBIT of $10,000 to an asset account called "Loan Receivable", as well as a CREDIT of $10,000 to an asse ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Zero
0 (zero) is a number representing an empty quantity. Adding (or subtracting) 0 to any number leaves that number unchanged; in mathematical terminology, 0 is the additive identity of the integers, rational numbers, real numbers, and complex numbers, as well as other algebraic structures. Multiplying any number by 0 results in 0, and consequently division by zero has no meaning in arithmetic. As a numerical digit, 0 plays a crucial role in decimal notation: it indicates that the power of ten corresponding to the place containing a 0 does not contribute to the total. For example, "205" in decimal means two hundreds, no tens, and five ones. The same principle applies in place-value notations that uses a base other than ten, such as binary and hexadecimal. The modern use of 0 in this manner derives from Indian mathematics that was transmitted to Europe via medieval Islamic mathematicians and popularized by Fibonacci. It was independently used by the Maya. Common name ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Mutual Credit
"Mutual credit" (sometimes called " multilateral barter" or " credit clearing") is a term mostly used in the field of complementary currencies to describe a common, usually small-scale, endogenous money system. In a mutual credit system, creditors and debtors are the same people lending to each other. Transactions are recorded on a ledger, and a given individual or firm's balance is the sum of all their transactions positive or negative. Economics Once a common unit of account is agreed upon, and the extent to which members can draw credit is limited, a mutual credit system resembles a money system in which currency is created and destroyed with every transaction. Meaning of 'mutual' Practitioners and theoreticians in the complementary currency movement do not use the term in a consistent way. It could mean that * creditors and debts are the same people at different times * default risk is shared between all members of the circle (not necessarily distributed equally or even i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Mutualism (economic Theory)
Mutualism is an anarchist school of thought and economic theory that advocates for workers' control of the means of production, a free market made up of individual artisans, sole proprietorships and workers' cooperatives, and occupation and use property rights. As proponents of the labour theory of value and labour theory of property, mutualists oppose all forms of economic rent, profit and non-nominal interest, which they see as relying on the exploitation of labour. Mutualists seek to construct an economy without capital accumulation or concentration of land ownership. They also encourage the establishment of workers' self-management, which they propose could be supported through the issuance of mutual credit by mutual banks, with the aim of creating a federal society. Mutualism has its roots in the utopian socialism of Robert Owen and Charles Fourier. It first developed a practical expression in Josiah Warren's community experiments in the United States, which he est ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Marxian Economics
Marxian economics, or the Marxian school of economics, is a heterodox school of political economic thought. Its foundations can be traced back to Karl Marx's critique of political economy. However, unlike critics of political economy, Marxian economists tend to accept the concept of the economy prima facie. Marxian economics comprises several different theories and includes multiple schools of thought, which are sometimes opposed to each other; in many cases Marxian analysis is used to complement, or to supplement, other economic approaches. An example can be found in the works of Soviet economists like Lev Gatovsky, who sought to apply Marxist economic theory to the objectives, needs, and political conditions of the socialist construction in the Soviet Union, contributing to the development of Soviet political economy. Marxian economics concerns itself variously with the analysis of crisis in capitalism, the role and distribution of the surplus product and surplus value in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Issues In Genetic Resources
Issue or issues may refer to: Publishing * ''Issue'' (company), a mobile publishing company * ''Issue'' (magazine), a monthly Korean comics anthology magazine * Issue (postal service), a stamp or a series of stamps released to the public * '' Issues (American Council for Judaism)'', a Jewish magazine * ''Issues in Science and Technology'' a public policy peer reviewed journal pertaining to science, engineering, and medicine Computers * Issue (computers), a unit of work to accomplish an improvement in a data system ** Issue tracking system, a computer software package that manages and maintains lists of bugs, etc. * Issue log, a documentation element of software project management Music * Issues (band), a metalcore band from Atlanta, Georgia ** ''Issues'' (Issues album), 2014 * ''Issues'' (Korn album), 1999 * ''Issues'', a 2000 R&B album by Somethin' for the People * ''Issue VI'', a 2005 thrash metal album by Dew-Scented * "Issues" (Escape the Fate song), 2010 * "Issues" ( ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
