It is clear by now that pure exchange models are useless. For two reasons. First, because exchange is the other side of … specialization in production, and, second, because a direct exchange of goods does not take place in the monetary economy. The … decisive drawback of conventional exchange models, though, is that they cannot explain profit. Standard economics rests on …

This paper is focused on the historical development of selected exchange rates' volatility, that is: AUD, CAD, DEM, DKK …, EUR, FRF, GBP, JPY, SEK and CHF against USD. The paper aims to show that relatively large increment of exchange markets …

Economic reality is constituted by economic objects such as goods, commodities, money, value, price, and exchange that …

in a scanner played standard two-person ‘‘trust and reciprocity’’ games with both human and computer counterparts for …