Fiat Money, Intrinsic Properties, and Government Transaction Policy

Why do people coordinate on the use of valueless pieces of paper as generally accepted money? A possible answer is that these objects have intrinsic properties that make them better candidates to be used as media of exchange. Another answer stresses the fact that unconvertible fiat money will not easily appear unless there is a centralized institution that favors its use. The main objective of the paper is to analyze these questions. In order to do this, we take a model of commodity money in which fiat money does not play any significant role and modify it to examine under which circumstances fiat money might come to circulate as medium of exchange. Some of the results obtained from the model differ in a rather substantial way from previous related literature.

Fiat money, intrinsic properties and government transaction policy

Why do people coordinate on the use of valueless piecesof paper as generally accepted money? A possible answeris that these objects have intrinsic properties that make them better candidates to be used as media of exchange. Another answer stresses the fact that unconvertible fiat money will not easily appear unless there is a centralized institution that favors its use.The main objective of the paper is to analyze these questions. In order to do this, we take a model of commodity money in which fiat money does not play any significant role and modify it to examine under which circumstances fiat money might come to circulate as medium of exchange. Some of the results obtained from the model differ in a rather substantial way from previous related literature.

Tourism for whom?: Different paths to development and alternative experiments in Brazil

The tourism policies pursued by the Brazilian government since the 1990s have not produced the benefits that were expected from mass tourism. The example of two very successful cases of community-based tourism, stressing paths rooted in a development model that is fair and environmentally responsible, shows that tourism development can improve the quality of life in communities that receive an influx of tourists provided that the local community is taken into account and the planning and implementation of such development focus on creating opportunities and benefits for its members. © 2008 Latin American Perpectives.

Government procurement policy in developing countries: the case of Petrobras

The aim of this article is to discuss whether public procurement policy can promote innovation by firms located in developing countries. The literature on technological learning is used to create a typology for assessing the impact of public procurement in developing countries from the standpoint of innovation. Petrobras, a Brazilian state-owned enterprise, was chosen as a case study. Petrobras is a global leader in the field of deepwater oil production technology and so offers an interesting opportunity to investigate whether government procurement in developing countries is used to promote the capability of domestic firms to develop innovations. The article presents the findings of a field survey on P-51, a platform that was ordered by the Brazilian state-owned enterprise and began producing in 2009. The case study is based on information collected from interviews with managers of Petrobras, EPC contractors and some of the firms subcontracted to work on P-51.

Government patent policy. : Hearings before the Subcommittee on Patents, Trademarks, and Copyrights of the Committee on the Judiciary, United States Senate, Eighty-seventh Congress, first session, pursuant to S. Res. 55 on S. 1084 and S. 1176.

Mode of access: Internet.

The life of Thomas Jefferson, third president of the United States. With parts of his correspondence never before published, and notices of his opinions on questions of civil government, national policy, and constitutional law.

Mode of access: Internet.

Annual Report on Government Patent Policy

Reports for 1964/65 prepared by the Council in consultation with the Dept. of Justice

Faces of pricing and profit planning at the doorstep of the EU: government pricing policy in the innovative pharmaceutical sector in Turkey

The majority of research on the pharmaceutical sector has focused on an overall micro economic, medical oriented welfare issues, whereas the marketing management role of the innovative drug manufacturer has to a large extent been disregarded. Using the case of Turkey, through a series of in-depth interviews with highly innovative companies, other marketing management possibilities to develop pricing strategies and plan for profit are explored based on broader definitions of value and transparency. Our results suggest that pharmaceutical companies as well as governments might have a too narrow focus of value and underestimate the potential long term benefits of a broader approach to marketing management and long term relationships between the various stakeholders.