Monetary vs Non-Monetary Gold

August 1, 2004 7:48 AM by Don Lloyd

The Question of Miniscule Quantities of Gold Money During the Transition From Barter to a Money Economy

If all existing available forms of gold are placed in one of the two categories of monetary or non-monetery gold, then those two categories must be simply synonymous with the two categories of exchange-valued and subjective use-valued gold, respectively. These are not categories intrinsic to the form of gold in question, but are the result of the intent of the specific holder of the gold to either employ the gold directly to satisfy subjective ends or to indirectly do so through an exchange process. If a given sample of gold potentially has both subjective use-value and exchange-value to its holder, the economic value is the value which is the greater of the two, at a particular time. (cont)

Continue reading "Monetary vs Non-Monetary Gold" »

Revisiting Opportunity Cost

May 3, 2004 7:28 AM by Don Lloyd

In an article in the March 2003 Harvard Business Review entitled 'For the Last Time: Stock Options Are an Expense', authors Zvi Bodie, Robert S. Kaplan, and Robert C. Merton attempt to justify the expensing of stock options.

Continue reading "Revisiting Opportunity Cost" »

Retirement Funding and Price Inflation

April 23, 2004 1:06 PM by Don Lloyd

From an accounting standpoint, future retirement is considered as properly prefunded if either the government sets aside tax money to make future payments or if an individual himself saves his own money for the same purpose.

Continue reading "Retirement Funding and Price Inflation" »