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Topic Review
Option
In finance, an option is a contract which conveys to its owner, the holder, the right, but not the obligation, to buy or sell a specific quantity of an underlying asset or instrument at a specified strike price on or before a specified date, depending on the style of the option. Options are typically acquired by purchase, as a form of compensation, or as part of a complex financial transaction. Thus, they are also a form of asset and have a valuation that may depend on a complex relationship between underlying asset price, time until expiration, market volatility, the risk-free rate of interest, and the strike price of the option. Options may be traded between private parties in over-the-counter (OTC) transactions, or they may be exchange-traded in live, public markets in the form of standardized contracts.
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  • 30 Nov 2022
Topic Review
Audio Non-Fungible Tokens
Crypto, non-fungible tokens (NFTs), and the metaverse have taken a massive place in people's daily conversations and are highly valued. Moreover, NFTs range from luxury fashion to art, and sound is no exception, although it still needs to be explored. 
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  • 30 Nov 2022
Topic Review
Antifragile
Antifragile: Things That Gain From Disorder is a book by Nassim Nicholas Taleb published on November 27, 2012, by Random House in the United States and Penguin in the United Kingdom. This book builds upon ideas from his previous works including Fooled by Randomness (2001), The Black Swan (2007–2010), and The Bed of Procrustes (2010–2016) and is the fourth book in the five-volume philosophical treatise on uncertainty titled Incerto. Some of the ideas are expanded in Taleb’s fifth book Skin in the Game: Hidden Asymmetries in Daily Life (2018).
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Topic Review
Minimum Wage
A minimum wage is the lowest remuneration that employers can legally pay their employees—the price floor below which employees may not sell their labor. Most countries had introduced minimum wage legislation by the end of the 20th century. Because minimum wages increase the cost of labor, companies often try to avoid minimum wage laws by using gig workers, by moving labor to locations with lower or nonexistent minimum wages, or by automating job functions. The movement for minimum wages was first motivated as a way to stop the exploitation of workers in sweatshops, by employers who were thought to have unfair bargaining power over them. Over time, minimum wages came to be seen as a way to help lower-income families. Modern national laws enforcing compulsory union membership which prescribed minimum wages for their members were first passed in New Zealand and Australia in the 1890s. Although minimum wage laws are now in effect in many jurisdictions, differences of opinion exist about the benefits and drawbacks of a minimum wage. Supply and demand models suggest that there may be employment losses from minimum wages. However, minimum wages can increase the efficiency of the labor market in monopsony scenarios, where individual employers have a degree of wage-setting power over the market as a whole. Supporters of the minimum wage say it increases the standard of living of workers, reduces poverty, reduces inequality, and boosts morale. In contrast, opponents of the minimum wage say it increases poverty and unemployment because some low-wage workers "will be unable to find work...[and] will be pushed into the ranks of the unemployed".
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  • 30 Nov 2022
Topic Review
Exclusion Clause
An exclusion clause is a term in a contract that seeks to restrict the rights of the parties to the contract. Traditionally, the district courts have sought to limit the operation of exclusion clauses. In addition to numerous common law rules limiting their operation, in England and Wales Consumer Contracts Regulations 1999. The Unfair Contract Terms Act 1977 applies to all contracts, but the Unfair Terms in Consumer Contracts Regulations 1999, unlike the common law rules, do differentiate between contracts between businesses and contracts between business and consumer, so the law seems to explicitly recognize the greater possibility of exploitation of the consumer by businesses.
  • 751
  • 29 Nov 2022
Topic Review
The New Palgrave Dictionary of Economics
The New Palgrave Dictionary of Economics (2008), 2nd ed., is an eight-volume reference work on economics, edited by Steven N. Durlauf and Lawrence E. Blume and published by Palgrave Macmillan. It runs to 7,680 pages and 5.8 million words. It includes 1,844 articles, of which 1057 are new articles and, from the earlier edition, 80 "classic" essays, 157 revised articles, and 550 edited articles. It is the product of 1,506 contributors, 25 of them Nobel Laureates in Economics. Articles are classified according to Journal of Economic Literature (JEL) classification codes. The New Palgrave is also available in a hyperlinked online version. Article information by abstract, outline, and keywords is available without subscription. These are accessed by "Go to" or "Quick" searches or alphabetical article links by first letter, see Articles A-Z. Refined search by using JEL classification code, article elements, Boolean operators, or wildcards is available, see Advanced search. Online content is added to the 2008 edition from quarterly updates links, see Online Updates. The first edition was titled The New Palgrave: A Dictionary of Economics (1987), edited by John Eatwell, Murray Milgate, and Peter Newman and published in four volumes. It is discussed in a section below. Access to full-text articles for both editions and post-2008 updates is available online by subscription, whether of an organization, a person, or a person through an organization.
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Topic Review
Integrated Management
Integrated management is a socially defined concept that is interpreted and understood in a variety of ways.
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  • 29 Nov 2022
Topic Review
Swisscom
Swisscom AG is a major telecommunications provider in Switzerland. Its headquarters are located at Worblaufen near Bern. The Switzerland owns 51.0 percent of Swisscom AG. According to its own published data, Swisscom holds a market share of 60% for mobile, 67% for broadband and 33% for TV telecommunication in Switzerland. Its Italian subsidiary Fastweb is attributed 16% of private clients and 29% of corporate clients share of Italian broadband and is also active in the mobile market. The Swiss telegraph network was first set up in 1852, followed by telephones in 1877. The two networks were combined with the postal service in 1920 to form the PTT (Postal Telegraph and Telephone). It struggled to develop a homegrown digital network, with the first digital exchange launched in 1986, but pioneered the NATEL A mobile service in 1978 and the GSM-based NATEL D offering a digital service in 1993. The Swiss telecommunications market was deregulated in 1997. Telecom PTT was spun off and rebranded Swisscom ahead of a partial privatisation in 1997 which has left the Swiss government with a 51% stake. Besides pioneering the first mobile telephone network NATEL A, the present-day Swisscom owns the protected brand NATEL, which is used and known only in Switzerland . 25% of Swisscom Mobile was sold to Vodafone in 2001. Since then, Swisscom has bought a majority stake in Italy's second-biggest telecom company Fastweb and invested in areas such as hospitality support, cloud services, mobile solutions and billing.
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Topic Review
Criticisms of Neoclassical Economics
Neo-classical economics has come under critique on the basis of its core ideologies, assumptions, and other matters.
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Topic Review
Country-of-Origin Labeling
Now repealed, Country of origin labeling (COOL) (or mCOOL [m for mandatory]) was a requirement signed into American law under Title X of the Farm Security and Rural Investment Act of 2002 (also known as the 2002 Farm Bill), codified at 7 U.S.C. § 1638a as Notice of country of origin. This law had required retailers to provide country-of-origin labeling for fresh beef, pork, and lamb. The program exempted processed meats. The United States Congress passed an expansion of the COOL requirements on September 29, 2008, to include more food items such as fresh fruits, nuts and vegetables. Regulations were implemented on August 1, 2008 (73 FR 45106), August 31, 2008 (73 FR 50701), and May 24, 2013 (78 FR 31367). On December 18, 2015 Congress repealed the COOL law, as a part of the omnibus budget bill because of a series of WTO rulings that prohibited labels based on country of origin.
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