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Topic Review
Depression of 1920–21
The Depression of 1920–21 was a sharp deflationary recession in the United States and other countries, beginning 14 months after the end of World War I. It lasted from January 1920 to July 1921. The extent of the deflation was not only large, but large relative to the accompanying decline in real product. There was a two-year post–World War I recession immediately following the end of the war, complicating the absorption of millions of veterans into the economy. The economy started to grow, but it had not yet completed all the adjustments in shifting from a wartime to a peacetime economy. Factors identified as contributing to the downturn include returning troops, which created a surge in the civilian labor force and problems in absorbing the veterans; a decline in labor union strife; changes in fiscal and monetary policy; and changes in price expectations. Following the end of the depression, the Roaring Twenties brought a period of economic prosperity.
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Topic Review
CNBC Ticker
The CNBC Ticker is a computer simulation of ticker tapes used by the United States business news-oriented television network CNBC (as well as its international sister channels), that is displayed as a crawl on the lower part of the television screen. The CNBC Ticker shows security and index symbols in the manner of the ticker tapes that received information by telegraph. The security identifiers used on the CNBC Ticker are taken from nomenclatures used by third-party companies like Reuters or from global stock exchanges. The ticker is composed of a faster-scrolling upper band with a white background and a slower-scrolling lower band with a dark blue background for all CNBC channels. In addition for some channels, such as CNBC Europe; CNBC-e; CNBC Arabiya and Class CNBC, a third business news band is displayed in gray with a black background. The ticker is shown throughout the duration of financial news programming on CNBC's domestic and international channels, including national commercial breaks. However, in the United States and Canada , advertisements that are locally inserted by cable television providers may be shown full-screen, omitting the ticker from being displayed during local breaks (as of 2013, all ad inserts by cable television providers, as well as satellite television providers DirecTV and Dish Network are now shown full-screen).
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Topic Review
Key Management Interoperability Protocol (KMIP)
The Key Management Interoperability Protocol (KMIP) is an extensible communication protocol that defines message formats for the manipulation of cryptographic keys on a key management server. This facilitates data encryption by simplifying encryption key management. Keys may be created on a server and then retrieved, possibly wrapped by other keys. Both symmetric and asymmetric keys are supported, including the ability to sign certificates. KMIP also allows for clients to ask a server to encrypt or decrypt data, without needing direct access to the key. The KMIP standard was first released in 2010. Clients and servers are commercially available from multiple vendors. The KMIP standard effort is governed by the OASIS standards body. Technical details can also be found on the official KMIP page and wiki.
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Topic Review
Purple Economy
The purple economy is that part of the economy which contributes to sustainable development by promoting the cultural potential of goods and services. “The purple economy refers to taking account of cultural aspects in economics. It designates an economy that adapts to the human diversity in globalization and that relies on the cultural dimension to give value to goods and services.”
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Topic Review
Undue Influence
Undue influence (UI) is a psychological process by which a person's free will is supplanted by that of another. It is a legal term and the strict definition varies by jurisdiction. Generally speaking, it is a means by which a person gains control over their victim's decision making through tactics and unfair pressure, typically for financial gain. Historically, UI has been poorly understood, even in legal circles. Undue influence occurs behind closed doors and there are often no witnesses. UI is typically perpetrated by a person trusted by the victim and is dependent on them for emotional and physical needs. Anyone may be guilty of undue influence and is often a paid or unpaid caregiver, but may also be an attorney, accountant, nursing home attendant, neighbor, or even the victims' children. Undue influence is a process, not a single event; the influencer may spend weeks, months, or even years "grooming" and manipulating their victim. Anyone is susceptible to undue influence, but the elderly are particularly vulnerable. A distinction is made between the nature of capacity and undue influence. In assessing capacity, the practitioner evaluates an individual's ability to competently perform tasks (e.g., execute a will or give medical consent). These assessments give insight to the functioning of the cognitive capabilities at that moment in time. Conversely, screening for undue influence is focused on the process of events which occur over an extended period. To determine whether another person is leveraging unfair tactics on the victim, an assessment particular to undue influence is required. Undue influence occurs in various circumstances including: domestic violence, hostage situations, cults, prisoners of war, and dictatorships. The common theme among these situations is the aspect of psychological manipulation. Traumatic bonding occurs between the victim and the influencer, as a result, victims are unaware they're being manipulated and will often defend the perpetrator. Gaining independence from the influencer is required if the victim is to recover from the effects of UI, much like victim's of Stockholm syndrome, cults, and kidnapping. The effectiveness of cult tactics on young and healthy individuals illustrates that anyone, regardless of mental status, is a potential victim of UI under certain circumstances. Elderly Americans are living longer, and with this increased life expectancy, the prevalence of cognitive disorders associated with advanced age has also increased. A significant concentration of wealth is controlled by this aging demographic. As modern families become more complex and dispersed, and people are living longer, the likelihood of will contests involving undue influence is expected to increase.
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Topic Review
Business Process Outsourcing
Business process outsourcing (BPO) is a subset of outsourcing that involves the contracting of the operations and responsibilities of a specific business process to a third-party service provider. Originally, this was associated with manufacturing firms, such as Coca-Cola that outsourced large segments of its supply chain. BPO is typically categorized into back office outsourcing, which includes internal business functions such as human resources or finance and accounting, and front office outsourcing, which includes customer-related services such as contact centre services. BPO that is contracted outside a company's country is called offshore outsourcing. BPO that is contracted to a company's neighbouring (or nearby) country is called nearshore outsourcing. Often the business processes are information technology-based, and are referred to as ITES-BPO, where ITES stands for Information Technology Enabled Service. Knowledge process outsourcing (KPO) and legal process outsourcing (LPO) are some of the sub-segments of business process outsourcing industry.
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Topic Review Peer Reviewed
Market Power in the Context of Globalization
Market power is a multidisciplinary concept, bringing together aspects from law and economics, which are necessary to be understood in order to assess market situations with a global dimension. Globalization is an economic and social phenomenon which comes together with enhanced market power for global actors. Factors influencing or limiting market power, such as corporate social responsibility, are important to understand in order to assess market power situations. According to European Union Law, the concept of market power is reflected in abuse of dominance, which is an anti-competitive behavior prohibited in the Common Market of the EU, as defined in Article—102 of the Treaty on the Functioning of the EU. An interdisciplinary approach based on elements of law and economics is thus necessary when assessing market power of global actors. 
  • 333
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Topic Review
Stock Selection Criterion
Stock selection criteria or stock picking is a multi-method technique for investing when specifically dealing with stocks (equity markets). The stock investment or position can be "long" (bought) (to benefit from a stock price increase) or "short" (sold) (to benefit from a decrease in a stock's price), depending on the investor or financial professional's expectation of how the stock price is going to move. The stock selection criteria may include systematic stock picking methods that utilize computer software and/or data.
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Topic Review
Anchoring
Anchoring or focalism is a cognitive bias where an individual depends too heavily on an initial piece of information offered (considered to be the "anchor") when making decisions. Anchoring occurs when, during decision making, an individual depends on an initial piece of information to make subsequent judgments. Those objects near the anchor tend to be assimilated toward it and those further away tend to be displaced in the other direction. Once the value of this anchor is set, all future negotiations, arguments, estimates, etc. are discussed in relation to the anchor. This bias occurs when interpreting future information using this anchor. For example, the initial price offered for a used car, set either before or at the start of negotiations, sets an arbitrary focal point for all following discussions. Prices discussed in negotiations that are lower than the anchor may seem reasonable, perhaps even cheap to the buyer, even if said prices are still relatively higher than the actual market value of the car. The original description of the anchoring effect came from psychophysics. When judging stimuli along a continuum, it was noticed that the first and last stimuli were used to compare the other stimuli (this is also referred to as "end anchoring". This was applied to attitudes by Sherif et al. in 1958 in their article "Assimilation and contrast effects of anchoring stimuli on judgments".
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Topic Review
LICRA V. Yahoo!
Ligue contre le racisme et l'antisémitisme et Union des étudiants juifs de France c. Yahoo! Inc. et Société Yahoo! France (LICRA c. Yahoo!) is a France court case decided by the Tribunal de grande instance of Paris in 2000. The case concerned the sale of memorabilia from the Nazi period by Internet auction and the application of national laws to the Internet. Some observers have claimed that the judgement creates a universal competence for French courts to decide Internet cases. A related case before the United States courts concerning the enforcement of the French judgement reached the 9th US Circuit Court of Appeals, where a majority of the judges ruled to dismiss Yahoo!'s appeal. Criminal proceedings were also brought in the French courts against Yahoo!, Inc. and its then president Timothy Koogle; the defendants were acquitted on all charges, a verdict that was upheld on appeal.
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