Economic development is the outcome of an interaction between creative intelligence and adaptive economizing. Inventors and innovators continually perturb the possibilities for production, consumption, and social organization. Adaptive economizing enables individuals to cope with changing...

In recent decades, financial reporting has shifted away from reliance on social norms towards predominance of written standards enforced by authority. This change has influenced accounting thought, practice, regulation, instruction, and research. Moreover, monopoly jurisdiction of accounting...