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Fiat Money
Fiat money (from la, fiat, "let it be done") is a type of currency that is not backed by any commodity such as gold or silver. It is typically designated by the issuing government to be legal tender. Throughout history, fiat money was sometimes issued by local banks and other institutions. In modern times, fiat money is generally authorized by government regulation. Fiat money generally does not have intrinsic value and does not have use value. It has value only because the individuals who use it as a unit of account or, in the case of currency, a medium of exchange agree on its value. They trust that it will be accepted by merchants and other people. Fiat money is an alternative to commodity money, which is a currency that has intrinsic value because it contains, for example, a precious metal such as gold or silver which is embedded in the coin. Fiat also differs from representative money, which is money that has intrinsic value because it is backed by and can be converte ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Yuan Dynasty Banknote With Its Printing Plate 1287
Yuan may refer to: Currency * Yuan (currency), the basic unit of currency in historic and contemporary mainland China and Taiwan **Renminbi, the current currency used in mainland China, whose basic unit is yuan ** New Taiwan dollar, the current currency used in Taiwan, whose basic unit is yuán in Mandarin ** Manchukuo yuan, the unit of currency that was used in the Japanese puppet state of Manchukuo Governmental organ * " Government branch" or "Court" (), the Chinese name for a kind of executive institution. Government of Taiwan * Control Yuan * Examination Yuan * Executive Yuan * Judicial Yuan * Legislative Yuan Government of Imperial China * Xuanzheng Yuan, or Bureau of Buddhist and Tibetan Affairs during the Yuan dynasty * Lifan Yuan during the Qing dynasty Dynasties * Yuan dynasty (元朝), a dynasty of China ruled by the Mongol Borjigin clan ** Northern Yuan dynasty (北元), the Yuan dynasty's successor state in northern China and the Mongolian Plateau People and langu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fiat
Fiat Automobiles S.p.A. (, , ; originally FIAT, it, Fabbrica Italiana Automobili di Torino, lit=Italian Automobiles Factory of Turin) is an Italian automobile manufacturer, formerly part of Fiat Chrysler Automobiles, and since 2021 a subsidiary of Stellantis through its Italian division Stellantis Italy. Fiat Automobiles was formed in January 2007 when Fiat S.p.A. reorganized its automobile business, and traces its history back to 1899 when the first Fiat automobile, the Fiat 4 HP, was produced. Fiat Automobiles is the largest automobile manufacturer in Italy. During its more than century-long history, it remained the largest automobile manufacturer in Europe and the third in the world after General Motors and Ford for over 20 years, until the car industry crisis in the late 1980s. In 2013, Fiat S.p.A. was the second largest European automaker by volumes produced and the seventh in the world, while FCA was the world's eighth-largest automaker. In 1970, Fiat Automobiles em ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Song Dynasty
The Song dynasty (; ; 960–1279) was an imperial dynasty of China that began in 960 and lasted until 1279. The dynasty was founded by Emperor Taizu of Song following his usurpation of the throne of the Later Zhou. The Song conquered the rest of the Ten Kingdoms, ending the Five Dynasties and Ten Kingdoms period. The Song often came into conflict with the contemporaneous Liao, Western Xia and Jin dynasties in northern China. After retreating to southern China, the Song was eventually conquered by the Mongol-led Yuan dynasty. The dynasty is divided into two periods: Northern Song and Southern Song. During the Northern Song (; 960–1127), the capital was in the northern city of Bianjing (now Kaifeng) and the dynasty controlled most of what is now Eastern China. The Southern Song (; 1127–1279) refers to the period after the Song lost control of its northern half to the Jurchen-led Jin dynasty in the Jin–Song Wars. At that time, the Song court retreated south of the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Jiao Zi
''Jiaozi'' (; ; pinyin: jiǎozi) are Chinese dumplings commonly eaten in China and other parts of East Asia. ''Jiaozi'' are folded to resemble Chinese sycee and have great cultural significance attached to them within China. ''Jiaozi'' are one of the major dishes eaten during the Chinese New Year throughout Northern China and eaten all year round in the northern provinces. Though considered part of Chinese cuisine, ''jiaozi'' are popular in other parts of East Asia and in the Western world, where a fried variety is sometimes called potstickers in North America and Chinese dumplings in the UK and Canada. The English-language term "potsticker" is a calque of the Mandarin word "guotie" (鍋貼). ''Potsticker'' was used by Buwei Yang Chao and her husband Yuen Ren Chao in the book '' How to Cook and Eat in Chinese'', which was first published in 1945. In northern China, however, "guotie" specifically refers to a type of pan-fried ''jiaozi'' with its ends left open rather than j ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ming Dynasty
The Ming dynasty (), officially the Great Ming, was an imperial dynasty of China, ruling from 1368 to 1644 following the collapse of the Mongol-led Yuan dynasty. The Ming dynasty was the last orthodox dynasty of China ruled by the Han people, the majority ethnic group in China. Although the primary capital of Beijing fell in 1644 to a rebellion led by Li Zicheng (who established the short-lived Shun dynasty), numerous rump regimes ruled by remnants of the Ming imperial family—collectively called the Southern Ming—survived until 1662. The Ming dynasty's founder, the Hongwu Emperor (r. 1368–1398), attempted to create a society of self-sufficient rural communities ordered in a rigid, immobile system that would guarantee and support a permanent class of soldiers for his dynasty: the empire's standing army exceeded one million troops and the navy's dockyards in Nanjing were the largest in the world. He also took great care breaking the power of the court eunuchs and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Yuan Dynasty
The Yuan dynasty (), officially the Great Yuan (; xng, , , literally "Great Yuan State"), was a Mongol-led imperial dynasty of China and a successor state to the Mongol Empire after its division. It was established by Kublai, the fifth khagan-emperor of the Mongol Empire from the Borjigin clan, and lasted from 1271 to 1368. In orthodox Chinese historiography, the Yuan dynasty followed the Song dynasty and preceded the Ming dynasty. Although Genghis Khan had been enthroned with the Han-style title of Emperor in 1206 and the Mongol Empire had ruled territories including modern-day northern China for decades, it was not until 1271 that Kublai Khan officially proclaimed the dynasty in the traditional Han style, and the conquest was not complete until 1279 when the Southern Song dynasty was defeated in the Battle of Yamen. His realm was, by this point, isolated from the other Mongol-led khanates and controlled most of modern-day China and its surrounding areas, inc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banknote
A banknote—also called a bill (North American English), paper money, or simply a note—is a type of negotiable promissory note, made by a bank or other licensed authority, payable to the bearer on demand. Banknotes were originally issued by commercial banks, which were legally required to redeem the notes for legal tender (usually gold or silver coin) when presented to the chief cashier of the originating bank. These commercial banknotes only traded at face value in the market served by the issuing bank. Commercial banknotes have primarily been replaced by national banknotes issued by central banks or monetary authorities. National banknotes are often – but not always – legal tender, meaning that courts of law are required to recognize them as satisfactory payment of money debts. Historically, banks sought to ensure that they could always pay customers in coins when they presented banknotes for payment. This practice of "backing" notes with something of substance is t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Journal Of Political Economy
The ''Journal of Political Economy'' is a monthly peer-reviewed academic journal published by the University of Chicago Press. Established by James Laurence Laughlin in 1892, it covers both theoretical and empirical economics. In the past, the journal published quarterly from its introduction through 1905, ten issues per volume from 1906 through 1921, and bimonthly from 1922 through 2019. The editor-in-chief is Magne Mogstad ( University of Chicago). It is considered one of the top five journals in economics. Abstracting and indexing The journal is abstracted and indexed in EBSCO, ProQuest, EconLit , Research Papers in Economics, Current Contents/Social & Behavioral Sciences, and the Social Sciences Citation Index. According to the ''Journal Citation Reports'', the journal has a 2020 impact factor of 9.103, ranking it 4/376 journals in the category "Economics". The journal is department-owned University of Chicago journal. Notable papers Among the most influential pa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Nash Equilibrium
In game theory, the Nash equilibrium, named after the mathematician John Nash, is the most common way to define the solution of a non-cooperative game involving two or more players. In a Nash equilibrium, each player is assumed to know the equilibrium strategies of the other players, and no one has anything to gain by changing only one's own strategy. The principle of Nash equilibrium dates back to the time of Cournot, who in 1838 applied it to competing firms choosing outputs. If each player has chosen a strategy an action plan based on what has happened so far in the game and no one can increase one's own expected payoff by changing one's strategy while the other players keep their's unchanged, then the current set of strategy choices constitutes a Nash equilibrium. If two players Alice and Bob choose strategies A and B, (A, B) is a Nash equilibrium if Alice has no other strategy available that does better than A at maximizing her payoff in response to Bob choosing B, and Bo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Game Theory
Game theory is the study of mathematical models of strategic interactions among rational agents. Myerson, Roger B. (1991). ''Game Theory: Analysis of Conflict,'' Harvard University Press, p.&nbs1 Chapter-preview links, ppvii–xi It has applications in all fields of social science, as well as in logic, systems science and computer science. Originally, it addressed two-person zero-sum games, in which each participant's gains or losses are exactly balanced by those of other participants. In the 21st century, game theory applies to a wide range of behavioral relations; it is now an umbrella term for the science of logical decision making in humans, animals, as well as computers. Modern game theory began with the idea of mixed-strategy equilibria in two-person zero-sum game and its proof by John von Neumann. Von Neumann's original proof used the Brouwer fixed-point theorem on continuous mappings into compact convex sets, which became a standard method in game theory and mathem ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Endogeneity (econometrics)
In econometrics, endogeneity broadly refers to situations in which an explanatory variable is correlated with the error term. The distinction between endogenous and exogenous variables originated in simultaneous equations models, where one separates variables whose values are determined by the model from variables which are predetermined; ignoring simultaneity in the estimation leads to biased estimates as it violates the exogeneity assumption of the Gauss–Markov theorem. The problem of endogeneity is often ignored by researchers conducting non-experimental research and doing so precludes making policy recommendations. Instrumental variable techniques are commonly used to address this problem. Besides simultaneity, correlation between explanatory variables and the error term can arise when an unobserved or omitted variable is confounding both independent and dependent variables, or when independent variables are measured with error. Exogeneity versus endogeneity In ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Utility (economics)
As a topic of economics, utility is used to model worth or value. Its usage has evolved significantly over time. The term was introduced initially as a measure of pleasure or happiness as part of the theory of utilitarianism by moral philosophers such as Jeremy Bentham and John Stuart Mill. The term has been adapted and reapplied within neoclassical economics, which dominates modern economic theory, as a utility function that represents a single consumer's preference ordering over a choice set but is not comparable across consumers. This concept of utility is personal and based on choice rather than on pleasure received, and so is specified more rigorously than the original concept but makes it less useful (and controversial) for ethical decisions. Utility function Consider a set of alternatives among which a person can make a preference ordering. The utility obtained from these alternatives is an unknown function of the utilities obtained from each alternative, not the sum of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
