The Internet and the flood of transparency-inducing information it brings eases and streamlines almost all social and economic transactions.
Since then, since a time when the ruble was often eschewed in favor of the dollar for domestic economic transactions, things have improved quite a lot.
Forty years later, the invention of the World Wide Web by Tim Berners-Lee, opened up numerous and ever-growing possibilities for economic transactions and ventures based on data.
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Part of the problem, he argued, was that some economic transactions are so complicated, and involve so many things which could go wrong, that writing a legally enforceable contract that takes all possibilities into account is impossible.
They want to continue down the path of modernization, respect for private capital, the rule of law and the need for a legal order that can guarantee rights, liberty and ensure that economic transactions are subject to legal protection.
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An institutional unit is considered to be resident within a country when it has a centre of economic interest in that territory, i.e. is engaged or is going to get engaged in some economic activities or transactions during a long period, usually assimilated to one year.
The argument that countries holding SWFs will have too great an economic interest to use such transactions as anything beyond furthering their own economic interest does not hold water.
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Ruble, who is appealing, had been accused of writing letters blessing knowingly bogus tax shelters--complicated transactions without economic substance that created massive phony losses used to offset massive taxable income.
For government, economic downturns mean less business transactions and less income, which, of course, means less tax revenue.
Economists struggle to itemize the economic implications of trillions of transactions taking place at the two ends of the networks.
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To make a legal case against Winnick, prosecutors will have to show that he knew that the swap transactions lacked an economic basis and were used to paint a false picture of the company's financial situation.
It describes transactions whose only apparent economic purpose was to massage Parmalat's reported numbers.
Beware of transactions that promise little economic gain other than tax benefits or that seemingly disparate parts cobbled together in a way that makes little economic sense.
But by specifically telegraphing policy, the Fed has now given cover to the most parasitic elements of the financial sector to undertake transactions that offer no economic benefit to the nation.
Financing options have also come a long way, with the Chinese government doing its part to ensure that the transactions important to its economic development and foreign policies can be facilitated by Chinese financial institutions.
As a means to enable quick transactions and improve livelihoods and fuel economic development, mobile money will go a long way in providing financial services to the unbanked population and empower the individual to store and manage their funds.
By harnessing the efficiency, transparency and accountability that is inherent in the web to improve all aspects of government-to-business and business-to-government transactions, they can deliver a big economic boost.
The theorem says that the distribution of property rights, provided they are clearly assigned and transactions costs are low, has no effect on economic efficiency, because people can negotiate their way to the efficient position.
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Install 100 million phones and the network becomes a powerful tool for economic growth, as people gain the ability to instantly exchange ideas and engage in transactions that previously were constrained by the laws of time and space.
Another bad sign: transactions with seemingly disparate parts are cobbled together in a way that makes little economic sense.
Properly understood, the concept reimbursement means the exact repayment for expenses incurred and applies almost exclusively to transactions such as travel expenses for employees and the like, not to productive economic activity.
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But there are more, many many many who understand, that in the world we know, after the economic crisis we have known, giving a little morality to international exchanges, to international financial transactions, this would be good.
The documents also indicate that Winnick knew about fiber-optic capacity swap transactions that helped the company appear to be gaining revenue, deals that in fact had no economic value, investigators say.
Both countries face risks when it comes to protecting personal data and communications, financial transactions, critical infrastructure, or the intellectual property and trade secrets that are so vital to innovation and economic growth.
Because of the financial power of the City--seen time and time again during the current economic crisis--the government of the U.K. seems quite unable to challenge it, and the transactions the City wants to execute.
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