Liquidity is the elephant in the dark room that is the global financial system. Everybody knows that liquidity is important, yet few would brave defining what it is, or how to gauge it accurately. One of the disturbing aspects of ‘liquidity’ is that its meanings and functions as a financial cate-gory vary according to the context and level of economic activity, as well as to the phase of the business cycle (Nesvetailova 2008). Liquidity of the market or a portfolio of assets during ‘good’ times is not the same as liquidity during an economic downturn or a financial crisis. Assets that are easy to sell when economic agents share a sense of optimism about their profitability, liquidity and safety, often turn out to be unwanted and expensive bundles of ‘illiquid’ debt when the sense of optimism evaporates. Hence ‘liquidity’ can evaporate literally overnight.
IT can and must continue to become more business-centric.
1) Improve communications. IT must communicate with the business in terms that are clear. Ratherthan talking in terms of MegaBytes and Gigahertz, IT needs to talk in term of Return on Investment (ROI), competitive advantage and other metrics used by business. By communicating with the business, IT can better understand the needs of the business. It is not the job of the business leaders to know
Many developing countries, including some of the poorest, have achieved significant export diversification over the past two decades, spurred by changes in technology and investments in infrastructure. Chandra, Boccardo, and Osorio (2008) observe that some degree of export diversification, as measured by the Herfindahl index, has been widespread: almost 60 percent of the developing countries diversified
ABSTRACT: This article is an attempt to sketch a philosophical view of money as a social phenomenon. I show that the way to understand the substance of money is to analyze its meaning as a medium of exchange in connection with its meaning as a purpose of exchange, thereby providing an investigation of its social value. This approach has been used by many of the great philosophers and economists of the past, but not today. Modern economics is a policy oriented theoretical discipline and concentrates its efforts on solving practical tasks. I hope to contribute a philosophical approach to economic research.
Ethics are considered the moral standards by which people judge behavior. Ethics are often summed up in what is considered the “golden rule”—do unto others as you would have them do unto you. While this makes sense as a general rule of thumb, it is not entirely useful when looking to define business ethics. In business, there are many different people you have to answer to: customers, shareholders and clients.