Wyniki wyszukiwania - Biblioteka Nauki

1

Co jsou peníze?

100%

Sokol J.

Sociologický časopis. Czech Sociological Review

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2004

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tom 40

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nr 4

509-518

EN

As most philosophers regarded money with a certain distrust or even contempt, the question of the nature of money was not addressed from a philosophical perspective until G. Simmel wrote 'The Philosophy of Money' (1900). Even 19th-century thinkers clung to the idea of money as a commodity, or, for Marx, as a 'mask of value'. This idea is rather misleading, as money, in comparison with commodities, always flows in the opposite direction, is not consumed but rather circulates, and can be represented by fewer and fewer material tokens, by fiduciary money, or even by invisible computer bytes. On the other hand, it appears to be a sort of institutionalised mutual trust, the validity of which is attested to daily by the willingness (or unwillingness) of citizens to accept it as payment. Though the monetary economy has a natural tendency to extend itself over as many commodities as possible, money itself must, paradoxically, be strictly excluded from free market competition: its production is monopolised or at least regulated. The same is true for the agents of social control: if to bribe a judge, mayor or police officer were to become an efficient alternative to buying, nobody could be expected to sell. Money seems to be almost a genial social invention, facilitating daily life, the division of labour, and collaboration, and promoting a kind of civic egality. Its only drawback is that its validity depends on the general level of mutual trust among citizens. Thus the views of Socrates and of Adam Smith, both of whom saw money as somehow related to the morals and trustworthiness of a society, may be confirmed, albeit on different bases.

2

The Market under Control - Interest Rates in the Second Republic

80%

Leszczynska C. , Lisiecka L.

Roczniki Dziejów Społecznych i Gospodarczych

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2005

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tom 65

167-194

EN

The principles of the functioning of the money market in the Second Polish Republic were subjected to far-reaching regulations which pertained both to legal aspects and the level of binding credit rates. The beginnings of the 'controlled market' can be found in the statute on usury (part of the reforms introduced by Wladyslaw Grabski), passed in 1924. This law, conceived as provisional, was supposed to overcome the 'high prices' of money, but it became a permanent element of the financial system, with consequences transcending the original intentions of its authors. The article analyses the configuration of interest rates in the years 1924-1938, and indicates the impact exerted by anti-usury legislation. The authoresses demonstrate the dependencies between the maximum rate, the interest of short-term credit, and the central bank rate. The fact that the government regulated the prices of credit must have obviously influenced the level of deposit rates. As the maximum rate was lowered, private banks began to aim at limiting competition for deposits; with this purpose in mind, in 1927 they created a cartel agreement about maximum deposit rates. In 1933 the government also introduced maximum deposit rates in communal savings banks and credit cooperatives. The existence of a maximum rate statute affected the way in which several banks, already functioning assumed shape: the Bank of Poland, private banks, state banks, and the non-bank market. The price of credit in each one of them was regulated, directly or indirectly, by the State. It is difficult to ascertain objectively whether the usury law proved to be more useful or detrimental. A discussion concerning those questions became intensified during the 1930s, when they were studied more widely by economists (e.g. by E. Taylor, M. Breit, S. Buczkowski, T. Solowij). A complete assessment of the correctness of the theses formulated by them calls for further economic research.

3

MAKROEKONOMICKÝ DOPAD RŮSTU ŠIROKÝCH MĚNOVÝCH AGREGÁTŮ VE VYBRANÝCH ZEMÍCH V LETECH 1960 – 2007

70%

Jílek J.

Ekonomický časopis (Journal of Economics)

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2015

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tom 63

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nr 1

3 – 18

EN

The impact of the broad monetary aggregates on the decrease of money velocity, inflation and real GDP in the USA (1960 – 2007), Eurozone (1991 – 2007), Japan (1960 – 2007), Great Britain (1987 – 2007) and the Czech Republic (1993 – 2007) has been analysed. In all countries the growth of the broad monetary aggregate resulted in higher inflation and higher real GDP in relation approximately 1 : 1. The broad money velocity has rapidly lowered in Eurozone, Japan, Great Britain and the Czech Republic. In the USA the broad money velocity lowered only slightly and the decrease was more volatile over time. Thus in countries with the exception of the USA there was strong negative correlation between (i) 1-year lagged monetary aggregates and (ii) consumer price index and real GDP.

4

ANTICIPATED LOSS AVERSION FOR SMALL AND LARGE AMOUNTS OF MONEY IN CULTURALLY DIFFERENT (SLOVAKIA, POLAND, BOLIVIA) UNIVERSITY STUDENT SAMPLES

51%

Bacova V. , Brezina I. , Lesniak A.

Studia Psychologica

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2010

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tom 52

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nr 4

315-326

EN

The aim of this study was to verify whether students in different cultures (with assumed distinct degrees of individualism-collectivism) anticipate their emotions in relation to loss differently and whether there are differences between anticipating one's emotions at losing small versus large sums of money in each sample. Three samples of university students (181 in Slovakia, 126 in Poland and 103 in Bolivia), mean age 21-22 years, were studied. No gender differences were found in any of the samples. Slovak and Polish students expressed anticipated loss aversion for greater sums of money and reversed loss aversion for small sums of money. Bolivian students showed no anticipated loss aversion either for small or large sums of money. Neither sample showed a relation between anticipated loss aversion and individualism-collectivism. Loss aversion in risky choices was observed in all samples; however, more students from Bolivia were willing to accept a greater financial loss than Slovak and Polish students. Higher individualism correlated with lower level of loss aversion in risky choices in the Slovak and Polish samples. The limits of the study are discussed in conclusion.