distinguish valid nominal real monetary relationships micro macro uses including influence aggregate demand output methods include deriving testing implications money substitute assets based explicit frictions history foundational concept modern '''theory money''' understanding value fiat money depends upon exchange weight compare arrow debreu model research areas traditionally research areas monetary economics included empirical determinants measurement money supply whether narrowly broadly index aggregated


paradigm monetary financial institutions possible advantages following monetary policy rule avoid inefficiencies time inconsistency discretionary policy history islamic golden age around time medieval islamic world vigorous monetary economy created th th centuries basis expanding levels circulation stable high value currency dinar innovations introduced muslim economists traders merchants include earliest uses credit ref name banaji ref cheques promissory notes ref name medieval trade mediterranean world illustrative documents ref savings accounts transactional accounts loaning trusts exchange rates transfer

Social science
Economics
Monetary economics


one earliest issuers coins world ref name subodh kapoor ref along lydian staters several middle eastern coinages chinese wen term ''r pya'' sanskrit term silver coin sanskrit r pa beautiful form imperial taka officially introduced monetary reforms muhammad bin tughluq emperor delhi sultanate modeled representative money concept pioneered paper money mongols china persia tanka minted copper brass value exchanged gold


price revolution value gold fell precipitously sometimes fluctuating wildly importation gold new world primarily spain end period first modern texts monetary economics beginning appear eighteenth century concept banknotes became common europe david hume referred new invention paper john law scotland published ''money trade considered'' examined failure metal based money previous hundred fifty years proposed replacing system


land bank system paper money based value real estate succeeded getting proposal implemented however bank failed due bubble speculation collapsing extreme inflation perhaps failed take lessons spanish price revolution seriously isaac gervaise wrote ''the system theory trade world'' criticised mercantilism state supported credit inflation problems era ''della moneta'' published ferdinando galiani arguably first modern text economic theory printed twenty five


years adam smith 's famous book ''the wealth nations'' touched topics ''della moneta'' covered many modern monetary concepts including value origin regulation money carefully examined possible causes money 's value fluctuate year following ''of balance trade'' published hume argued one need worry import export goods creating surplus shortage either money goods excess shortage money always increase decrease demand equilibrium reached


modern economic terms equilibration price specie flow mechanism see also chartalism classical dichotomy currency crisis equation exchange financial economics free banking horizontalism liquidity preference liquidity trap market monetarism modern monetary theory monetarism monetary base monetary disequilibrium theory monetary reform money creation money supply systemic risk taylor rule ''the general theory employment interest money'' ''the theory money credit'' velocity money welfare cost inflation notes br nbsp nbsp ben bernanke vincent r reinhart conducting monetary policy low short term interest rates ''american economic review'' pp http publicecondukeedu staff wrkshop papers papers bernanke reinhart aer pdf br nbsp nbsp


peter n ireland monetary transmission mechanism ''the new palgrave dictionary economics'' nd edition http wwwdictionaryofeconomicscom articleid pde q monetary economics topicid result number abstract http fmwwwbcedu ec p wp pdf pre publication copy br nbsp nbsp alan blinder et al central bank communication monetary policy survey theory evidence ''journal economic literature'' pp pre publication http wwwecbint pub pdf scpwps ecbwp pdf copy br nbsp nbsp vasco c rdia michael woodford central bank balance sheet instrument monetary policy ''journal monetary economics'' pp https archivetoday http wwwsciencedirectcom science ob articleurl udi b vbw srm user coverdate rdoc fmt high orig search origin search sort docanchor view c searchstrid rerunorigin google acct c version urlversion userid md e ab bdf e c cc e searchtype abstract br nbsp nbsp xavier freixas monetary policy systemic crisis ''oxford review economic policy'' pp https archivetoday http oxrepoxfordjournalsorg cgi content abstract abstract ref ref name pal


br nbsp nbsp thomas j sargent neil wallace unpleasant monetarist arithmetic federal reserve bank minneapolis ''quarterly review'' pp http researchmplsfrbfedus research qr qr pdf br nbsp nbsp thomas j sargent https filesnyuedu ts public research sargent sweden finalpdf united states europe nobel lecture sect lessons br nbsp nbsp milton friedman monetary fiscal framework economic stability '' american economic review'' pp http wwwhilbertcorporationcomar amonetaryandfiscaleconomicstabilitypdf br nbsp nbsp ''a program monetary stability'' fordham university press new york toc chapter preview https wwwquestiacom pmqsta links br nbsp nbsp michael woodford fiscal requirements price stability ''journal money


credit banking'' pp https wwwjstororg pss br nbsp nbsp alberto alesina allan drazen stabilizations delayed ''american economic review'' pp http j bradford delongnet teaching folder econ b f papers alesina drazenpdf br nbsp nbsp lawrence h summers international financial crises causes prevention cures ''american economic review'' pp https wwwjstororg pss reprinted chatterji p gangopadhyay ed ''economic globalization asia'' pp https booksgooglecom bookshl en lr id kvdnzwa qmc oi fnd pg pa ots rl ipwusi sig rll rsmp wsnzc klpbqxf dg https booksgooglecom bookshl en lr id kvdnzwa qmc oi fnd pg pa ots rl ipwusi sig rll rsmp wsnzc klpbqxf dg ppa br nbsp nbsp graciela l kaminsky carmen reinhart twin crises causes banking balance payments problems ''american economic review'' pp https wwwjstororg pss br nbsp nbsp christopher adam david vines remaking macroeconomic policy


global financial crisis balance sheet approach ''oxford review economic policy'' pp https webarchiveorg web http oxrepoxfordjournalsorg cgi content abstract abstract ref ref name game martin shubik game theoretic approach theory money financial institutions ch b friedman f h hahn ed ''handbook monetary economics'' elsevier v pp http didowssyaleedu p cp p b p pdf br nbsp nbsp ''the theory money financial institutions'' mit press br nbsp nbsp nbsp nbsp nbsp nbsp v http mitpressmitedu catalog item defaultaspttype tid description http mitpressmitedu catalog item defaultaspttype tid mode toc contents chapter preview https booksgooglecom booksid bwue xveqc printsec find pg pr v onepage q f false links br nbsp nbsp nbsp nbsp nbsp nbsp v http mitpressmitedu catalog item defaultaspttype tid description http mitpressmitedu catalog item defaultaspttype tid mode toc contents br nbsp nbsp nbsp nbsp nbsp nbsp v


http mitpressmitedu catalog item defaultaspttype tid description br nbsp nbsp guido tabellini money debt deficits dynamic game ''journal economic dynamics control'' pp http wwwsciencedirectcom science article pii x abstract br nbsp nbsp koichi hamada strategic analysis monetary interdependence ''journal political economy'' part pp https wwwjstororg pss br nbsp nbsp ''the political economy international monetary interdependence'' mit press http mitpressmitedu catalog item defaultasptid ttype description content chapter http mitpressmitedu catalog item defaultaspttype tid mode toc links review https doiorg fbf extract br nbsp nbsp matthew b canzoneri dale w henderson ''monetary policy interdependent economies game theoretic approach'' mit press http mitpressmitedu catalog item defaultasptid ttype description chapter preview https booksgooglecom booksid xtdqfayc printsec find pg pr v onepage q f false links ref ref name n


sudipto bhattacharya anjan v thakor arnoud wa boot economics bank regulation ''journal money credit banking'' pp https appsolinwustledu workingpapers pdf pdf br nbsp nbsp frederic mishkin ed ''prudential supervision works n't'' chicago https wwwnberorg books mish chapter downloads br nbsp nbsp james r barth gerard caprio jr ross levine bank regulation supervision works best ''journal financial intermediation'' pp https archivetoday http wwwsciencedirectcom science ob articleurl udi b wjd b v user coverdate rdoc fmt high orig search sort docanchor view c rerunorigin scholargoogle acct c version urlversion userid md c e aceeb e b abstract br nbsp nbsp carlos pel ez carlos pel ez ''regulation banks finance theory policy credit crisis'' palgrave http wwwpalgravecom resources catalogue pdfs economics pdf page description br nbsp nbsp


centre economic policy research london br nbsp nbsp nbsp nbsp nbsp nbsp nbsp nbsp mathias dewatripont xavier freixas richard portes ed '' http wwwvoxeuorg reports g ebookpdf macroeconomic stability financial regulation '' br nbsp nbsp nbsp nbsp nbsp nbsp nbsp nbsp thorsten beck diane coyle mathias dewatripont xavier freixas paul seabright http wwwceprorg pubs bailing bankspdf ''bailing banks reconciling stability competition'' ch preventing future crises reforming prudential regulation pp br nbsp nbsp robert e hall ''monetary trends united states united kingdom'' review perspective new developments monetary economics ''journal economic literature'' pp http wwwstanfordedu rehall monetary trends jel pdf br nbsp nbsp robert c merton financial innovation management


kevin c murdock joseph e stiglitz liberalization moral hazard banking prudential regulation capital requirements enough ''american economic review'' pp https wwwjstororg pss br nbsp nbsp ross levine norman loayza thorsten beck financial intermediation growth causality causes ''journal monetary economics'' pp http siteresourcesworldbankorg dec resources financialdevelopmentandgrowthpdf close pages tab left br nbsp nbsp asli demirg kunt enrica detragiache deposit insurance increase banking system stability empirical investigation ''journal monetary economics'' pp https archivetoday http wwwsciencedirectcom science ob articleurl udi b vbw ygnwb user coverdate rdoc fmt high orig search sort docanchor view c searchstrid rerunorigin scholargoogle acct c version urlversion userid md e cd c cdf cec abstract toc br nbsp nbsp donald p morgan rating banks risk uncertainty opaque industry ''american


economic review'' pp https wwwjstororg pss br nbsp nbsp thorsten beck asl demirgu kunt ross levine bank supervision corruption lending ''journal monetary economics'' pp http michaunazwapl aska uploads studenci epf nov pdf abstract br nbsp nbsp raghuram g rajan financial development made world riskier ''economic symposium conference http wwwkansascityfedorg publications research escp archivecfm proceedings '' federal reserve bank kansas city aug pp http wwwkansascityfedorg publicat sympos pdf rajan pdf br nbsp nbsp mark carey ren stulz ed '' https booksgooglecom booksid mtwtpwkgyggc printsec frontcover source gbs v onepage q f false risks financial institutions '' chicago br nbsp nbsp nbsp nbsp nbsp nbsp nbsp nbsp thorsten beck asli demirguc kunt ross levine bank concentration fragility impact mechanics ch pp https booksgooglecom booksid mtwtpwkgyggc printsec find pg pa gbs v onepage q f false


https ssrncom abstract abstract br nbsp nbsp nbsp nbsp nbsp nbsp nbsp nbsp franklin allen douglas gale systemic risk regulation ch pp br nbsp nbsp carl e walsh using monetary policy stabilize economic activity https webarchiveorg web http wwwkansascityfedorg publications research escp escp cfm ''financial stability macroeconomic policy'' frbkc aug pp https webarchiveorg web http kansascityfedorg publicat sympos papers walsh pdf br nbsp nbsp ben bernanke http wwwfederalreservegov newsevents speech bernanke ahtm monetary policy housing bubble american economic association meeting atlanta january br nbsp nbsp ''frontline'' warning pbs october brooksley born 's efforts cftc chair regulate otc derivatives https wwwpbsorg wgbh pages frontline warning etc scripthtml transcript arrow https wwwpbsorg wgbh pages frontline warning view link broadcast br nbsp nbsp ''charlie rose'' paul volcker interview oct pbs current financial regulatory


economy'' pp https wwwsfuca kkasa prescott pdf br nbsp nbsp robert j barro david b gordon rules discretion reputation model monetary policy ''journal monetary economics'' pp http dssucsdedu jlbroz courses poli c syllabus barro gordonpdf br nbsp nbsp john b taylor discretion versus policy rules practice ''carnegie rochester conference series public policy'' pp http wwwstanfordedu johntayl papers discretionpdf br nbsp nbsp michael woodford ''interest prices foundations theory monetary policy'' princeton university press http pressprincetonedu titles html description http pressprincetonedu tocs c html table contents chapter return monetary rules http pressprincetonedu chapters pdf link reviews http wwwcatoorg pubs journal cj n cj n pdf robert formaini https booksgooglecom booksid q z f rgc pg pa lpg pa dq michael woodford e contributions monetary economics e source bl ots l zliqsea sig il w ntpqi n ckm ovy hl en ei szimtoccfykklwfconirdg sa x oi book result ct result resnum ved cboq aewag v onepage q michael woodford e contributions monetary economics c e f false


bennett mccallum ref ref name n christina romer david h romer monetary economics ''nber reporter'' p http wwwnberorg reporter number number pdf br nbsp nbsp alan blinder central bankers could learn academics vice versa ''journal economic perspectives'' pp http wwwukznacza economics viegi teaching uct blinderpdf ref ref name bernanke ben bernanke macroeconomics great depression comparative approach ''journal money credit banking'' pp https fraserstlouisfedorg title item br nbsp nbsp nonmonetary effects financial crisis propagation great depression ''american economic review'' pp https wwwjstororg pss reprinted bernanke


bernanke ''essays great depression'' princeton http pressprincetonedu titles html description http pressprincetonedu tocs c html toc ch br nbsp nbsp mark gertler agency costs net worth business fluctuations ''american economic review'' pp https wwwjstororg pss br nbsp nbsp irving fisher debt deflation theory great depressions ''econometrica'' pp https fraserstlouisfedorg title br nbsp nbsp p bridel credit cycle ''the new palgrave dictionary economics'' nd edition http wwwdictionaryofeconomicscom articleid pde c q credit cycles topicid result number abstract br nbsp nbsp mark gertler financial structure aggregate economic activity overview ''journal money credit banking'' pp http wwwnvieginet teaching master gertlerpdf br nbsp nbsp steven gjerstad


vernon l smith https wwwwsjcom articles sb bubble depression ''wall street journal'' april br nbsp nbsp hyman p minsky monetary systems accelerator models ''american economic review'' pp http digitalcommonsbardedu cgi viewcontentcgiarticle context hm archive sei redir referer http f fwwwgooglecom fsearch fgcx dw ix dc sourceid dchrome ie dutf q monetary bsystems band baccelerator bmodels c search monetary systems accelerator models c br nbsp nbsp steve fazzari hyman minsky domestic monetary policy monetarism ''journal economic issues'' economic policy eighties beyond pp https wwwjstororg pss reprinted tool ed ''an institutionalist guide economics public policy'' pp https booksgooglecom booksid vb bxvrs f c find pg pa false v onepage q f false br nbsp nbsp lance taylor stephen o'connell minsky crisis ''quarterly journal economics'' supplement pp http wwweconfeauspbr gilberto eae taylor oconnell pdf


br nbsp nbsp mervyn king debt deflation theory evidence ''european economic review'' pp https archivetoday http wwwsciencedirectcom science ob articleurl udi b v r gbb user rdoc fmt orig search sort view c acct c version urlversion userid md f e cbf dbfe ee abstract br nbsp nbsp enrique g mendoza lessons debt deflation theory sudden stops ''american economic review'' pp br nbsp nbsp nobuhiro kiyotaki john h moore credit cycles ''journal political economy'' pp br nbsp nbsp guillermo calvo enrique g mendoza capital markets crises economic collapse emerging markets informational frictions approach' ''american economic review'' pp https wwwjstororg pss br nbsp nbsp wynne godley marc lavoie ''monetary economics integrated approach


credit money income production wealth'' palgrave macmillan description contents http wwwpalgravecom products titleaspxis description links http wwwwynnegodleycom reviewhtm review ref relationship demand output demand money ref name n karl brunner allan h meltzer money credit monetary transmission process ''american economic review'' pp https wwwjstororg pss br nbsp nbsp edward nelson direct effects base money aggregate demand theory evidence ''journal monetary economics'' pp http wwwsciencedirectcom science article pii abstract j keynes general theory employment ''quarterly journal economics'' pp http membresmultimaniafr yannickperez site keynes pdf br nbsp nbsp anthony


santomero john j seater partial adjustment demand money theory empirics ''american economic review'' pp https wwwjstororg pss ref ref name wil william barnett monetary aggregation ''the new palgrave dictionary economics'' nd edition http wwwdictionaryofeconomicscom articleid pde q monetary economics topicid result number abstract br nbsp nbsp phillip cagan ''determinants effects changes stock money '' nber foreword milton friedman pp xiii xxviii https wwwnberorg books caga table contents br nbsp nbsp milton friedman anna jacobson schwartz introduction ''monetary statistics united states'' princeton https wwwnberorg chapters c pdf pp review allan h meltzer ''j


business'' pp https wwwjstororg pss br nbsp nbsp paul spindt money money monetary aggregation equation exchange ''journal political economy'' pp https wwwjstororg pss br nbsp nbsp michael belongia measurement matters recent results monetary economics reexamined ''journal political economy'' pp https wwwjstororg pss ref ref name mat matteo iacoviello house prices borrowing constraints monetary policy business cycle ''american economic review'' pp http www bcedu iacoviel research files aer pdf br nbsp nbsp ben bernanke mark gertler monetary policy asset price volatility ''economic review'' federal reserve bank kansas city


business cycle'' european central bank conference br nbsp nbsp charles p kindleberger robert z aliber ''manias panics crashes history financial crises'' th edition palgrave http wwwpalgravecom resources catalogue pdfs economics pdf page description toc br nbsp nbsp https wwwminneapolisfedorg publications papers pub displaycfmid kenneth rogoff interview ''the region'' federal reserve bank minneapolis br nbsp nbsp lawrence summers http didatticaunibocconiit mypage upload summers pdf beware moral hazard fundamentalists ''financial times'' september br nbsp nbsp william poole http wwwstlouisfedorg news speeches html important moral hazard panel discussion balancing financial stability price stability macroeconomic stability us monetary policy forum br nbsp nbsp charles w calomiris banking crises ''the new palgrave dictionary economics'' nd


edition http wwwdictionaryofeconomicscom articleid pde b q banking crises topicid result number abstract br nbsp nbsp lawrence h officer http wwwdictionaryofeconomicscom resources default bailout topical insight bailouts ''the new palgrave dictionary economics online'' br nbsp nbsp takeo hoshi anil k kashyap us bank recapitalization succeed eight lessons japan ''journal financial economics'' pp http wwwsciencedirectcom science article pii x abstract br nbsp nbsp robert j barro rare disasters asset prices welfare costs ''american economic review'' pp http wwweconomicsharvardedu faculty barro files consumption risk paper aer pdf ref ref name dimand robert w dimand macroeconomics origins history http wwwdictionaryofeconomicscom articleid pde q macroeconomics topicid result number abstract monetary economics history http wwwdictionaryofeconomicscom articleid pde q monetary economics topicid result number abstract ''the new palgrave dictionary economics'' nd edition br nbsp christina


romer david h romer monetary economics ''nber reporter'' pp http wwwnberorg reporter number number pdf abstract links http webcachegoogleusercontentcom searchq cache hxwdwcwb wj wwwnberorg reporter number hl en ct clnk cd gl us version br nbsp jel classification codes macroeconomics monetary economics jel e subcategories br nbsp david hume https wwwcsusedu indiv c chalmersk econ sp humeofmoneypdf money interest balance trade ''essays moral political literary'' reprinted hume ''writings economics'' eugene rotwein ed linked https booksgooglecom booksid w dp lx bgc pg pr source gbs selected pages cad table contents br nbsp thomas mayer david hume monetarism ''quarterly journal economics'' pp https wwwjstororg discover uid uid uid uid uid uid sid br nbsp henry thornton ''paper credit'' contents pp https archiveorg details bub gb ty aaaamaaj ix https booksgooglecom booksid ty aaaamaaj pg pa dq thornton xii http olllibertyfundorg indexphpoption com staticxt staticfile showphp ftitle itemid chapter links http olllibertyfundorg option com staticxt staticfile showphp ftitle chapter layout html itemid


introduction friedrich hayek br nbsp w stanley jevons ''money mechanism exchange'' chapter preview https booksgooglecom booksid nck aaaamaaj printsec find pg pr v onepage q f false links br nbsp carl menger origin money ''economic journal'' pp http masongmuedu tfemino files menger origin moneypdf br nbsp knut wicksell ''interest prices'' tr rf kahn macmillan chapter links pp https booksgooglecom booksid wqsw rsivrkc pg pr lpg pr dq wicksell interest prices v https booksgooglecom booksid wqsw rsivrkc pg pr lpg pr dq wicksell interest prices vi br nbsp ''lectures political economy'' v https misesorg books lpevol pdf money tr e classen discussed lionel robbins' introduction v https misesorg books lpevol pdf general theory pp xv xviii br nbsp ac pigou value money ''quarterly journal


economics'' pp https wwwjstororg pss reprinted part ac pigou ''essays applied economics'' pp https booksgooglecom booksid fxu tmugnic pg pa false br nbsp fisher irving nd ed ''the purchasing power money determination relation credit interest crises'' br nbsp john maynard keynes ''a tract monetary reform'' macmillan reviews https wwwjstororg pss http econ berkeleyedu econ articles reviews monetaryreformhtml br nbsp ''the general theory employment interest money'' macmillan br nbsp gary becker william j baumol classical monetary theory outcome discussion ''economica'' ns pp https wwwjstororg pss


br nbsp paul samuelson classical neoclassical monetary theory really ''canadian journal economics'' pp ''collected scientific papers'' v iii pp https booksgooglecom booksid xisb usg c pg pa lpg pa ots nyomchovk dq https booksgooglecom booksid xisb usg c pg pa lpg pa ots nyomchovk dq ppa br nbsp robert clower b traditional monetary theory really n't ''canadian journal economics'' pp https wwwjstororg pss br nbsp david ew laidler ''the golden age quantity theory development neoclassical monetary economics '' princeton http pressprincetonedu titles html description http findarticlescom p articles mi qa n v ai n review br nbsp bennett mccallum ''monetary economics theory policy'' macmillan https wwwscribdcom doc monetary economics theory policy mccallum preview ref ref name tobin james tobin money


''the new palgrave dictionary finance money'' v pp ''the new palgrave dictionary economics'' nd edition http wwwdictionaryofeconomicscom articleid pde q money topicid result number table contents https archivetoday http wwwinomicscom cgi repechandle repec cwl cwldpp abstract reprinted tobin ''essays economics'' v pp https booksgooglecom booksid biwet hrh kc pg pa https booksgooglecom booksid biwet hrh kc pg pa mit press br nbsp nbsp money capital stores value ''american economic review'' pp https wwwjstororg pss reprinted tobin ''essays economics'' v pp https booksgooglecom booksid ar mvqsdpgc pg pa https booksgooglecom booksid ar mvqsdpgc pg pa mit press br nbsp nbsp paul samuelson exact consumption loan model interest without social contrivance money ''journal


political economy'' pp http wwweconupennedu hfang teaching socialinsurance readings samuelson pdf br nbsp nbsp john bryan transaction demand money moral hazard ''models monetary economies'' ed j kareken nwallace federal reserve bank minneapolis pp https wwwminneapolisfedorg publications papers books models pcc pdf references pp https wwwminneapolisfedorg publications papers books models refspdf br nbsp nbsp nobuhiro kiyotaki randall wright money medium exchange ''journal political economy'' pp https wwwjstororg pss br nbsp nbsp search theoretic approach monetary economics ''american economic review'' pp https wwwjstororg pss ref ref name boyd jh boyd financial intermediation ''the new palgrave dictionary economics'' nd edition


press http mitpressmitedu catalog item defaultaspttype tid mode toc ch http mitpressmitedu catalog item defaultaspttype tid description ref ref name baumol william j baumol transaction demand cash inventory theoretic approach ''quarterly journal economics'' pp http wwwcbecsuhaywardedu alima courses week baumolmoneydemandpdf br nbsp nbsp james tobin interest elasticity transactions demand cash ''review economics statistics'' pp http wwwsbeuserscsuhaywardedu alima courses c week tobintransactionscashpdf reprinted tobin ''essays economics'' v ''macroeconomics'' pp https booksgooglecom booksid ar mvqsdpgc pg pa lpg pa dq bl ots gwslltyx sig cwgg nw ozmwqpqdqdvdrbnxbqu hl en ei x l sdsakmfatwf gp rdw sa x oi book result ct result resnum ppa https booksgooglecom booksid ar mvqsdpgc pg pa lpg pa dq bl ots gwslltyx sig cwgg nw ozmwqpqdqdvdrbnxbqu hl en ei x l sdsakmfatwf gp rdw sa x oi book result ct result resnum ppa br nbsp nbsp liquidity preference behavior towards risk ''review economic studies'' pp http cowleseconyaleedu p cm pdf br nbsp nbsp milton friedman quantity theory money restatement


''studies quantity theory money'' chicago reprinted ''the optimum quantity money'' pp https booksgooglecom booksid xvcgchqs nqc pg pa dq source gbs toc r cad https booksgooglecom booksid xvcgchqs nqc pg pa lpg pr dq studies quantity theory money restatement ref references ''handbook monetary economics'' elsevier friedman benjamin frank h hahn ed v links https webarchiveorg web http wwwelseviercom wps find bookdescriptioncws home description toc description contents chapter outline http wwwsciencedirectcom science ob publicationurl tockey toc flp cdi pubtype hs auth acct c version urlversion userid md c db ac c previews v links https webarchiveorg web http wwwelseviercom wps find bookdescriptioncws home description description description contents chapter outline http wwwsciencedirectcom science ob publicationurl tockey toc flp cdi pubtype hs auth acct c version urlversion userid md c bd f fd fb previews friedman benjamin michael woodford v b links https webarchiveorg web http wwwelseviercom wps find bookdescriptioncws home description description description chapter http wwwsciencedirectcom science handbooks abstract toc boughton james r elmus r wicker ''the principles


monetary economics'' brunner karl allan h meltzer ''money economy issues monetary analysis'' cambridge https booksgooglecom booksid egjfh roj c dq source gbs summary cad description chapter previews pp https booksgooglecom booksid egjfh roj c pg pr lpg pr dq ix https booksgooglecom booksid egjfh roj c pg pr lpg pr dq x clower robert w ed ''monetary theory selected readings'' harmondsworth penguin eden benjamin ''a course monetary economics sequential trade money uncertainty'' https webarchiveorg web http wwwblackwellpublishingcom bookaspref description gale douglas ''money equilibrium'' cambridge university press cambridge economic handbooks pp https ideasrepecorg b cup cbooks html description https booksgooglecom bookshl en lr id wqrccuaqqx c oi fnd pg pa dq onepage q f false v onepage q f false preview ''money disequilibrium'' cambridge economic handbooks pp https ideasrepecorg b cup cbooks html description https booksgooglecom bookshl en lr id wqrccuaqqx c oi fnd pg pa false v onepage q f false preview goodhart charles


green pharmacy cross sometimes overlaid bowl hygieia widely used pharmacy signs medication drug used diagnose cure treat prevent disease apothecary chemist gabri l metsu c '''pharmacy''' clinical health science links medical science chemistry charged discovery production disposal safe effective use control medications drugs practice pharmacy requires excellent knowledge drugs mechanism action side effects interactions mobility toxicity time requires knowledge

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Medicine and health
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Pharmacy


establishment pharmacy first sense practiced called ''pharmacy'' term common united states ''chemist 's'' common great britain though ''pharmacy'' also used united states canada ' 'drugstores'' commonly sell medicines well miscellaneous items confectionery cosmetics office supplies toys hair care products magazines occasionally refreshments groceries investigation herbal chemical ingredients work apothecary may regarded precursor modern sciences chemistry pharmacology prior


formulation scientific method disciplines pharmacy ''tacuinum sanitatis'' casanatensis th century field pharmacy generally divided three primary disciplines pharmaceutics pharmacokinetics medicinal chemistry pharmacognosy pharmacy practice boundaries disciplines sciences biochemistry always clear cut often collaborative teams various disciplines pharmacists scientists work together toward introduction new therapeutics methods patient care however pharmacy basic biomedical science typical form medicinal chemistry also distinct branch synthetic chemistry combining pharmacology organic chemistry


chemical biology pharmacology sometimes considered fourth discipline pharmacy although pharmacology essential study pharmacy specific pharmacy disciplines distinct wish practice pharmacy patient oriented pharmacology biomedical science requiring scientific method receive separate training degrees unique either discipline pharmacoinformatics considered another new discipline systematic drug discovery development efficiency safety pharmacogenomics study genetic linked variants effect patient clinical responses allergies metabolism drugs professionals world health organization estimates


represented national level professional organisations royal pharmaceutical society uk pharmaceutical society australia psa canadian pharmacists association cpha indian pharmacist association ipa pakistan pharmacists association ppa american pharmacists association apha malaysian pharmaceutical society mps cases representative body also registering body responsible regulation ethics profession united states specializations pharmacy practice recognized board pharmacy specialties include cardiovascular infectious disease oncology pharmacotherapy nuclear nutrition psychiatry commission certification geriatric pharmacy certifies


pharmacists geriatric pharmacy practice american board applied toxicology certifies pharmacists medical professionals applied toxicology pharmacy support staff pharmacy technicians pharmacy technicians support work pharmacists health professionals performing variety pharmacy related functions including dispensing prescription drugs medical devices patients instructing use may also perform administrative duties pharmaceutical practice reviewing prescription requests medic 's offices insurance companies ensure correct medications provided payment received legislation requires supervision certain pharmacy technician 's activities pharmacist


majority pharmacy technicians work community pharmacies hospital pharmacies pharmacy technicians may managed senior pharmacy technicians uk role pht hospital pharmacy grown responsibility passed manage pharmacy department specialized areas pharmacy practice allowing pharmacists time specialize expert field medication consultants spending time working patients research pharmacy technicians registered general pharmaceutical council gphc gphc regulator pharmacists pharmacy technicians pharmacy premises


uk group staff sell certain medicines including pharmacy general sales list medicines counter cannot prepare prescription medicines supply patients education requirements different requirements schooling according national jurisdiction student intends practise united states united states general pharmacist attain doctor pharmacy degree pharmd pharmd completed minimum six years includes two years pre pharmacy classes four years professional studies graduating pharmacy school highly suggested


student go complete one two year residency provides valuable experience student going independently generalized specialized pharmacist curriculum specified pharmd consists least credit hours credit hours transferred credit hours remaining credit hours completed professional school series required standardized tests students pass throughout process pharmacy school standardized test get pharmacy school united states called pharmacy college admission test pcat


student 's third professional year pharmacy school required pass pharmacy curriculum outcomes assessment pcoa pharmd attained fourth year professional school student eligible take north american pharmacist licensure exam naplex multistate pharmacy jurisprudence exam mpje work professional pharmacist history physician pharmacist illustration ''medicinarius'' hieronymus brunschwig earliest known compilation medicinal substances ''sushruta samhita'' indian ayurvedic treatise attributed sushruta th century bc however earliest text


preserved dates rd th century ad many sumerian th millennium bc early nd millennium bc cuneiform clay tablets record prescriptions medicine ancient egyptian pharmacological knowledge recorded various papyri ''ebers papyrus'' bc ''edwin smith papyrus'' th century bc de materia medica'' byzantium th century ancient greece diocles carystus th century bc one several men studying medicinal properties plants wrote several treatises topic greek physician pedanius dioscorides famous writing five volume book


native greek st century ad latin translation ''de materia medica'' ''concerning medical substances'' used basis many medieval texts built upon many middle eastern scientists islamic golden age deriving knowledge earlier greek byzantine medicine byzantine medicine pharmacy china dates least earliest known chinese manual ''shennong bencao jing'' ''the divine farmer 's herb root classic'' dating back st century ad compiled han dynasty attributed mythical shennong earlier literature included lists


prescriptions specific ailments exemplified manuscript recipes ailments found mawangdui sealed bc japan end asuka period early nara period men fulfilled roles similar modern pharmacists highly respected place pharmacists society expressly defined taih code stated r code ranked positions pre heian imperial court established organizational structure remained largely intact meiji restoration highly stable hierarchy


stores established ref name hadzovic ref abbasid caliphate islamic golden age th century pharmacies state regulated advances made middle east botany chemistry led medicine medieval islam substantially develop pharmacology muhammad ibn zakar ya r zi rhazes instance acted promote medical uses chemical compounds abu al qasim al zahrawi abulcasis pioneered preparation medicines sublimation distillation ''liber servitoris'' particular interest provides reader recipes explains prepare 'simples' compounded


complex drugs generally used sabur ibn sahl however first physician record findings pharmacopoeia describing large variety drugs remedies ailments al biruni wrote one valuable islamic works pharmacology entitled ''kitab al saydalah'' ''the book drugs'' detailed properties drugs outlined role pharmacy functions duties pharmacist avicenna described less preparations properties modes action indications devoted fact whole volume simple drugs


silicic acid made clear distinction sodium carbonate potassium carbonate drew attention poisonous nature copper compounds especially copper vitriol also lead compounds also describes distillation sea water drinking europe pharmacy like shops began appear th century emperor frederic ii issued decree physician 's apothecary 's professions separated town hall pharmacy tallinn operating continuously least showing bowl hygieia pharmacies europe operation since medieval times dubrovnik


croatia pharmacy first opened located inside franciscan monastery oldest operating pharmacy europe town hall square tallinn estonia pharmacy dating least medieval esteve pharmacy located via catalan enclave close puigcerd museum building dates back th century museum keeps albarellos th th centuries old prescription books antique drugs practice areas pharmacists practice variety areas including community pharmacies hospitals clinics extended care facilities psychiatric hospitals


regulatory agencies pharmacists may expertise medical specialty community pharmacy ''pharmacy'' also known ''chemist'' australia new zealand british isles ' 'drugstore'' north america ' 'retail pharmacy'' industry terminology apothecary historically pharmacists practice profession pharmacy community pharmacy dichotomy profession exists health professionals also retailers community pharmacies usually consist retail storefront dispensary medications stored dispensed according sharif kaf al ghazal opening first drugstores recorded


muslim pharmacists baghdad ad ref name hadzovic hospital pharmacy pharmacies within hospitals differ considerably community pharmacies pharmacists hospital pharmacies may complex clinical medication management issues pharmacists community pharmacies often complex business customer relations issues complexity medications including specific indications effectiveness treatment regimens safety medications ie drug interactions patient compliance issues hospital home many pharmacists practicing hospitals gain education training pharmacy school pharmacy practice residency sometimes followed another residency


specific area pharmacists often referred clinical pharmacists often specialize various disciplines pharmacy example pharmacists specialize hematology oncology hiv aids infectious disease critical care emergency medicine toxicology nuclear pharmacy pain management psychiatry anti coagulation clinics herbal medicine neurology epilepsy management pediatrics neonatal pharmacists hospital pharmacies often found within premises hospital hospital pharmacies usually stock larger range medications including specialized medications would feasible community setting hospital medications unit dose single dose medicine hospital


prescriber clinical pharmacist 's role involves creating comprehensive drug therapy plan patient specific problems identifying goals therapy reviewing prescribed medications prior dispensing administration patient review process often involves evaluation appropriateness drug therapy eg drug choice dose route frequency duration therapy efficacy pharmacist must also consider potential drug interactions adverse drug reactions patient drug allergies design initiate drug therapy plan ambulatory care pharmacy since emergence modern clinical pharmacy ambulatory care pharmacy practice emerged


unique pharmacy practice setting ambulatory care pharmacy based primarily pharmacotherapy services pharmacist provides clinic pharmacists setting often dispense drugs rather see patients office visits manage chronic disease states us federal health care system including va indian health service nih ambulatory care pharmacists given full independent prescribing authority states north carolina new mexico pharmacist clinicians given collaborative prescriptive diagnostic authority board pharmaceutical specialties approved ambulatory care pharmacy practice separate board


certification official designation pharmacists pass ambulatory care pharmacy specialty certification exam board certified ambulatory care pharmacist pharmacists carry initials bcacp compounding pharmacy industrial pharmacy compounding involves preparing drugs forms different generic prescription standard may include altering strength ingredients dosage form compounding way create custom drugs patients may able take medication standard form due allergy difficulty swallowing compounding necessary patients still able


properly get prescriptions need one area compounding preparing drugs new dosage forms example drug manufacturer provides drug tablet compounding pharmacist might make medicated lollipop contains drug patients difficulty swallowing tablet may prefer suck medicated lollipop instead another form compounding mixing different strengths g mg mcg capsules tablets yield desired amount medication indicated physician physician assistant nurse practitioner clinical pharmacist practitioner form compounding found community


hospital pharmacies home administration therapy compounding pharmacies specialize compounding although many also dispense non compounded drugs patients obtain community pharmacies consultant pharmacy consultant pharmacy practice focuses medication regimen review ie cognitive services actual dispensing drugs consultant pharmacists typically work nursing homes increasingly branching institutions non institutional settings traditionally consultant pharmacists usually independent business owners though united states many work large pharmacy management company omnicare kindred healthcare pharmerica trend may gradually reversing


consultant pharmacists begin work directly patients primarily many elderly people taking numerous medications continue live outside institutional settings community pharmacies employ consultant pharmacists provide consulting services main principle consultant pharmacy developed hepler strand ref name pharmaceutical care patient outcomes ref ref name responsibilities pharmaceutical care ref veterinary pharmacy veterinary pharmacies sometimes called ''animal pharmacies'' may fall category hospital pharmacy retail pharmacy mail order pharmacy veterinary pharmacies stock different varieties different strengths medications fulfill pharmaceutical needs animals


oct joint base balad iraq military pharmacy different working environment civilian practise military pharmacy technicians perform duties evaluating medication orders preparing medication orders dispensing medications would illegal civilian pharmacies duties required performed licensed registered pharmacist us military state laws prevent technicians counseling patients final medication check prior dispensing patients rather pharmacist solely responsible duties apply pharmacy informatics pharmacy informatics combination pharmacy practice science


applied information science pharmacy informaticists work many practice areas pharmacy however may also work information technology departments healthcare information technology vendor companies practice area specialist domain pharmacy informatics growing quickly meet needs major national international patient information projects health system interoperability goals pharmacists area trained participate medication management system development deployment optimization specialty pharmacy specialty pharmacies supply high cost injectable oral infused inhaled medications used chronic complex disease states cancer hepatitis


rheumatoid arthritis unlike traditional community pharmacy prescriptions common medication brought filled specialty pharmacies carry novel medications need properly stored administered carefully monitored clinically managed addition supplying drugs specialty pharmacies also provide lab monitoring adherence counseling assist patients cost containment strategies needed obtain expensive specialty drugs us currently fastest growing sector pharmaceutical industry newly fda approved medications specialty drugs due demand clinicians properly manage


specific patient populations specialty pharmacy certification board developed new certification exam certify specialty pharmacists along questions computerized multiple choice exam pharmacists must also complete hours specialty pharmacy practice within past three years well hours specialty pharmacist continuing education within past two years pharmaceutical sciences pharmaceutical sciences group interdisciplinary areas study concerned design action delivery disposition drugs apply knowledge chemistry inorganic physical biochemical analytical biology anatomy physiology biochemistry cell biology molecular biology epidemiology statistics


chemometrics mathematics physics chemical engineering ref name pharmsciintro ref pharmaceutical sciences subdivided several specific specialties four main branches '''pharmacology''' study biochemical physiological effects drugs human beings '''pharmacodynamics''' study cellular molecular interactions drugs receptors simply drug body '''pharmacokinetics''' study factors control concentration drug various sites body simply body drug '''pharmaceutical toxicology''' study harmful toxic effects drugs '''pharmacogenomics''' study


''pharmacia'' greek ''pharmakeia'' medicine derives ''pharmakon'' meaning drug poison spell ''pa ko'' written linear b syllabic script found py un tablet tablet also found listed py vn py sb etymologically related ''pharmakos'' separation prescribing dispensing separation prescribing dispensing also called dispensing separation practice medicine pharmacy physician provides medical prescription independent pharmacist provides prescription drug western world centuries


tradition separating pharmacists physicians asian countries traditional physicians also provide drugs contemporary time researchers health policy analysts deeply considered traditions effects advocates separation advocates combining make similar claims conflicting perspectives saying separating combining reduces conflict interest healthcare industry unnecessary health care lowers costs opposite causes things research various places reports mixed outcomes different circumstances future pharmacy pharmacists go rounds doctors


already commenced countries instance pharmacists australia receive remuneration australian government conducting comprehensive home medicines reviews canada pharmacists certain provinces limited prescribing rights alberta british columbia remunerated provincial government expanded services medications reviews medschecks ontario united kingdom pharmacists undertake additional training obtaining prescribing rights pharmacy education also paid government medicine use reviews scotland pharmacist write prescriptions scottish registered patients


regular medications majority drugs except controlled drugs patient unable see doctor could happen away home doctor unavailable united states pharmaceutical care clinical pharmacy evolving influence practice pharmacy ref name clinical pharmacy defined american college clinical pharmacy http wwwaccpcom clinical pharmacyphp clinical pharmacy defined ref moreover doctor pharmacy pharm degree required entering practice pharmacists complete one two years residency fellowship training following graduation addition consultant


pharmacists traditionally operated primarily nursing homes expanding direct consultation patients banner senior care pharmacy addition patient care pharmacies focal point medical adherence initiatives enough evidence show integrated pharmacy based initiatives significantly impact adherence chronic patients example study published nih shows pharmacy based interventions improved patients' medication adherence rates percent increased physicians' initiation rates percent compared control group pharmacy journals list pharmacy journals symbols symbols commonly


associated pharmacy mortar pestle north america medical prescription character often written rx typed text green greek cross france argentina united kingdom belgium ireland italy spain india bowl hygieia often used netherlands may seen combined symbols elsewhere common symbols include conical measures us caduceuses logos red stylized letter used germany austria ''apotheke'' german word pharmacy greek root english


used united states canada image red hanging show globe jpg hanging show globe formerly used united states image de gaper nijmegenjpg gaper formerly used netherlands file rx symbol bordersvg symbol used medical prescriptions latin ' 'recipe'' take thou file bowl hygieia davidsvg bowl hygieia gallery see also bachelor pharmacy master pharmacy doctor pharmacy notes references notes references references asai ''nyokan kai'' tokyo k dan sha titsingh isaac ed siyun sai rin siyo hayashi gah ''nipon da itsi ran ou annales des empereurs du japon'' paris oriental translation fund great britain ireland https booksgooglecom booksid onaaaaiaaj dq nipon dai itsi ran


click link digitized full text copy book french https wwwmckessoncom pharmacy management consulting technology pharmacy consulting services mckesson landmark study hospital pharmacy performance based extensive literature review collective experience health systems pharmacy executive alliance external links https webarchiveorg web http wwwubkauni karlsruhede pharm pharmaziegeschichte index ehtml navigator history pharmacy collection internet resources related history pharmacy http wwwdrugstoremuseumcom soderlund pharmacy museum information history american drugstore http wwwlloydlibraryorg lloyd library library botanical medical pharmaceutical scientific books periodicals works allied sciences http wwwaihporg american institute history pharmacy american


'''law economics''' '''economic analysis law''' application economic theory specifically microeconomic theory analysis law began mostly scholars chicago school economics economic concepts used explain effects laws assess legal rules economically efficient predict legal rules promulgated two major branches law economics first branch based application methods theories neoclassical economics positive normative analysis law second branch focuses

Social science
Economics
Law and economics


institutional analysis law legal institutions broader focus economic political social outcomes second branch law economics thus overlaps work political institutions governance institutions generally history origin historical antecedents law economics traced back classical economists credited foundations modern economic thought early th century adam smith discussed economic effects mercantilist legislation david ricardo opposed british corn laws grounds hindered agricultural productivity


fr ric bastiat influential book ''the law'' examined unintended consequences legislation however apply economics analyze law regulating nonmarket activities relatively new european law economics movement around lasting influence harold luhnow head volker fund financed f hayek us starting shortly thereafter financed aaron director 's coming university chicago order set new center scholars law economics university headed robert


maynard hutchins close collaborator luhnow 's setting chicago school university already frank knight george stigler henry simons ronald coase strong base libertarian scholars soon would also hayek director 's brother law stigler 's friend milton friedman also robert fogel robert lucas eugene fama richard posner gary becker historians robert van horn philip mirowski described developments rise chicago school economics chapter ''the road mont pelerin '' historian bruce caldwell great admirer von hayek


filled details account chapter chicago school hayek neoliberalism ''building chicago economics'' field began gary becker paper crime becker also received nobel prize richard posner law economics scholar major advocate positive theory efficiency published first edition economic analysis law founded journal legal studies regarded important events gordon tullock friedrich hayek also wrote intensively area influenced spread law economics founding


director founded ''the'' ''journal law economics'' co edited nobel laureate ronald coase helped unite fields law economics far reaching influence ronald coase guido calabresi independently published two groundbreaking articles problem social cost thoughts risk distribution law torts seen starting point modern school law economics aaron director helped found committee free society director 's appointment faculty university


chicago law school began half century intellectual productivity although reluctance publishing left writings behind ref name www newsuchicagoedu ref taught antitrust courses law school edward levi eventually would serve dean chicago 's law school president university chicago us attorney general ford administration retiring university chicago law school director relocated california took position stanford university 's hoover institution died september home los altos hills california ten days rd birthday


later development early henry manne former student coase set build center law economics major law school began university rochester worked university miami soon made unwelcome moved emory university ended george mason last soon became center education judges many long law school never exposed numbers economics manne also attracted support john olin foundation whose support accelerated movement today olin centers


programs law economics exist many universities important scholars forerunners adam smith david ricardo fr ric bastiat founders aaron director university chicago ref name www newsuchicagoedu ronald coase university chicago nobel memorial prize economic sciences richard posner university chicago guido calabresi yale university ref name ref calabresi judge us court appeals second circuit wrote depth subject book ''the costs accidents legal economic analysis'' cited influential extensive treatment proper incentives compensation required accident


situations ref name litan ref calabresi took different approach ''ideals beliefs attitudes law'' argued cheapest avoider cost depends valuations put acts activities beliefs whole law objective scientific notion henry manne george mason university ref name important figures important figures include nobel memorial prize winning economist gary becker leader chicago school economics us court appeals seventh circuit judge frank easterbrook andrei shleifer robert cooter harold demsetz hans bernd sch fer william


economic efficiency normative law economics ''normative law economics'' goes one step makes policy recommendations based economic consequences various policies key concept normative economic analysis efficiency particular allocative efficiency common concept efficiency used law economics scholars pareto efficiency legal rule pareto efficient could changed make one person better without making another person worse weaker conception efficiency kaldor hicks efficiency legal rule kaldor hicks efficient


could made pareto efficient parties compensating others offset loss nonetheless possibility clear distinction positive normative analysis questioned guido calabresi book future law economics believes actual unavoidable existence value judgments underlying much economic analysis uri weiss proposed alternative common law economics search law lead optimal outcome providing maximum size 'pie' think maximizing happiness


instead minimizing pain prefer another approach try identify games lead optimal result prevent games best interests players come unjust result relationship disciplines approaches used lawyers legal scholars phrase law economics refers application microeconomic analysis legal problems overlap legal systems political systems issues law economics also raised political economy constitutional economics political science


public policy ''staatswissenschaften'' approach german historical school economics view represented ''elgar companion law economics'' nd ed though exclusively ''european journal law economics'' consciously non neoclassical approaches economics used analysis legal administrative governance problems law economics closely related jurimetrics application probability statistics legal questions applications affirmative action coate loury model antitrust law herfindahl hirschman index calculus negligence congestion pricing corporate governance cost benefit analysis criminal law mass surveillance united states surveillance crime


enforcement deregulation airlines communications energy surface freight design contracts contract theory efficient breach discrimination statistical discrimination economics drug policy iron law prohibition evidence evolution common law evolutionary game theory financial regulation efficient market hypothesis fraud market theory governance commons tragedy commons institutional origins ''the colonial origins comparative development empirical investigation'' constitutional economics legal origins theory property rights intellectual property economics patents natural monopoly regulation averch johnson effect peltzman effect principal agent problem adverse selection moral hazard quarantine measures public health prudent investor rule modern portfolio theory rent control rent seeking transaction costs


coase theorem value statistical life voting systems social choice theory water law influence economic analysis law influential united states well elsewhere judicial opinions use economic analysis theories law economics regularity us also increasingly commonwealth countries europe influence law economics also felt legal education graduate programs subject offered number countries influence law economics civil law countries may gauged


availability textbooks law economics english well european languages sch fer ott mackaay many law schools north america europe asia faculty members graduate degree economics addition many professional economists study write relationship economics legal doctrines anthony kronman former dean yale law school written intellectual movement greatest influence american academic law past quarter century th century law economics criticisms despite influence


economic analysis legal questions argued normative economic analysis capture importance human rights concerns distributive justice heaviest criticisms law economics come critical legal studies movement particular duncan kennedy mark kelman jon hanson harvard law school argues legal economic political social systems unduly influenced individualistic model behavior based preferences instead model incorporates cognitive biases social norms pareto efficiency additional criticism directed toward assumed


systematic relaxation antitrust laws according critics fundamentally incorrect general reason conclude increase allocative efficiency likely decrease essentially first best neoclassical analysis fails properly account various kinds general equilibrium feedback relationships result intrinsic pareto imperfections ref name markovits another critique comes fact unique optimal result warren samuels book ''the legal economic nexus'' argues efficiency pareto sense cannot dispositively applied definition assignment rights efficiency requires


rights defenders law economics see also competition policy contract theory constitutionalism constitutional economics cost benefit analysis economic imperialism economics economics iron law prohibition islamic economical jurisprudence jurimetrics legal origins theory legal theory microeconomics new institutional economics occupational licensing political economy property rights economics public choice theory references reading kai purnhagen ''never twain shall meet critical perspective cultural limits internal continental dogmatism consequential us style law economics theory'' klaus mathis ''law economics europe'' springer science pp nbsp available https linkspringercom chapter bouckaert boudewijn gerrit de geest eds ''encyclopedia


law economics'' edward elgar http encyclofindlawcom online version coase ronald ''the firm market law'' chicago university chicago press reprint ed cooter robert thomas ulen ''law economics'' addison wesley longman th edition friedman david law economics ''the new palgrave dictionary economics'' v pp nbsp ''law 's order'' princeton university press chapter links http wwwdaviddfriedmancom laws order indexshtml links ''law 's order economics law matters'' martin gelter kristoffel grechenig http ssrncom abstract ''history law economics'' forthcoming


encyclopedia law economics georgakopoulos nicholas l ''principles methods law economics basic tools normative reasoning'' cambridge university press kristoffel grechenig martin gelter transatlantic divergence legal thought american law economics vs german doctrinalism http ssrncom abstract ''hastings international comparative law review'' vol pp kennedy duncan law economics perspective critical legal studies ''the new palgrave dictionary economics law'' http wwwduncankennedynet documents law economics perspective clspdf pdf kornhauser lewis http platostanfordedu entries legal econanalysis economic analysis law ''stanford encyclopedia philosophy'' mackaay ejan ''law economics


''foundations economic analysis law'' harvard university press http wwwhupharvardedu catalogphpisbn description scroll chapter preview https booksgooglecom booksid iykxhyfht cc dq foundations economic analysis law printsec frontcover source bn hl en ei rnrss leiyh lwe r ca sa x oi book result ct result resnum ved cceq aewaw v onepage q f false links rob jean philippe legal structure firm accounting economics law vol iss article available https webarchiveorg web http wwwbepresscom ael vol iss jean philippe rob https wwwdegruytercom view journals gj gj issue xml stojanovich silvestri p eds special issue 'the future law economics' guido calabresi interdisciplinary dialogue ''global jurist'' external links http wwwieputmedu law econ law economics article ''internet encyclopedia philosophy'' http wwwlaw economicsnet law economics lab https aeonco ideas radical legal ideology nurtured era economic inequality paper describing effects law economics inequality philosophy


mineralogist victor goldschmidt colleagues compiled list called cosmic abundances based analysis several terrestrial meteorite samples ref name goldschmidt ref goldschmidt justified inclusion meteorite composition data table claiming terrestrial rocks subjected significant amount chemical change due inherent processes earth atmosphere meant studying terrestrial rocks exclusively would yield accurate overall picture chemical composition cosmos therefore goldschmidt concluded extraterrestrial material must also included produce accurate robust

Natural science
Chemistry
Cosmochemistry


data research considered foundation modern cosmochemistry ref name mcsween cosmochemistry became accepted science harold urey widely considered one fathers cosmochemistry ref name mcsween engaged research eventually led understanding origin elements chemical abundance stars urey colleague german scientist hans suess published first table cosmic abundances include isotopes based meteorite analysis ref name suess ref continued refinement analytical instrumentation throughout especially mass spectrometry allowed cosmochemists


perform detailed analyses isotopic abundances elements within meteorites john reynolds determined analysis short lived nuclides within meteorites elements solar system formed solar system ref name reynolds ref began establish timeline processes early solar system meteorites meteorites one important tools cosmochemists studying chemical nature solar system many meteorites come material old solar system thus provide scientists record early solar


nebula ref name mcsween carbonaceous chondrites especially primitive retained many chemical properties since formation billion years ago ref name mcsween ref therefore major focus cosmochemical investigations primitive meteorites also contain small amount material recognized presolar grains older solar system derived directly remnants individual supernovae supplied dust solar system formed grains recognizable exotic chemistry alien solar system


matrixes graphite diamond silicon carbide also often isotope ratios rest solar system particular sun differ indicating sources number different explosive supernova events meteorites also may contain interstellar dust grains collected non gaseous elements interstellar medium one type composite cosmic dust stardust ref name mcsween recent findings nasa based studies meteorites found earth suggests dna rna components adenine guanine related organic molecules building blocks life


know may formed extraterrestrially outer space ref name callahan ref ref name steigerwald ref ref name dna ref comets july scientists reported upon first touchdown ''philae'' lander comet p surface measurements cosac ptolemy instruments revealed sixteen organic compounds four seen first time comet including acetamide acetone methyl isocyanate propionaldehyde ref name wapo ref ref name esa ref ref name sci ref research scientists reported ref name battersby ref detecting spectral signatures anthracene pyrene ultraviolet light emitted red rectangle nebula complex molecules ever found


outer space discovery considered confirmation hypothesis nebulae type red rectangle approach ends lives convection currents cause carbon hydrogen nebulae 's core get caught stellar winds radiate outward ref name referencea ref cool atoms supposedly bond various ways eventually form particles million atoms scientists inferred ref name battersby since discovered polycyclic aromatic hydrocarbons pahs may vital formation early life earth nebula necessity


must originate nebulae ref name referencea august nasa scientists identified one fundamental chemical building blocks life amino acid glycine comet first time fullerenes buckyballs detected nebulae fullerenes implicated origin life according astronomer letizia stanghellini 's possible buckyballs outer space provided seeds life earth august findings nasa based studies meteorites found earth suggests dna rna components adenine guanine related organic molecules building blocks life know


may formed extraterrestrially outer space ref name callahan ref name steigerwald ref name dna october scientists reported cosmic dust contains complex organic matter amorphous organic solids mixed aromatic aliphatic structure could created naturally rapidly stars ref name space ref ref name sciencedaily ref ref name nature ref august astronomers copenhagen university reported detection specific sugar molecule glycolaldehyde distant star system molecule found around protostellar binary ''iras '' located light years earth ref name ng ref ref name ap ref glycolaldehyde needed form ribonucleic acid rna similar function dna


finding suggests complex organic molecules may form stellar systems prior formation planets eventually arriving young planets early formation september nasa scientists reported polycyclic aromatic hydrocarbons pahs subjected interstellar medium ism conditions transformed hydrogenation oxygenation hydroxylation complex organics step along path toward amino acids nucleotides raw materials proteins dna respectively ref name space ref ref name ajl ref result transformations pahs lose spectroscopic signature could one reasons lack pah


detection interstellar ice grains particularly outer regions cold dense clouds upper molecular layers protoplanetary disks ref name space ref name ajl atacama large millimeter array alma project confirmed researchers discovered important pair prebiotic molecules icy particles interstellar space ism chemicals found giant cloud gas light years earth ism may precursor key component dna may role formation important amino acid researchers found molecule called cyanomethanimine produces


adenine one four nucleobases form rungs ladder like structure dna molecule called ethanamine thought play role forming alanine one twenty amino acids genetic code previously scientists thought processes took place tenuous gas stars new discoveries however suggest chemical formation sequences molecules occurred gas surfaces ice grains interstellar space nasa alma scientist anthony remijan stated finding molecules interstellar gas cloud means important


building blocks dna amino acids 'seed' newly formed planets chemical precursors life january nasa reported current studies planet mars ''curiosity'' ''opportunity'' rovers searching evidence ancient life including biosphere based autotrophic chemotrophic chemolithoautotrophic microorganisms well ancient water including fluvio lacustrine environments plains related ancient rivers lakes may habitable ref name sci ref ref name sci special ref ref name sci ref ref name sci c ref search evidence habitability taphonomy related fossils organic carbon planet mars primary


nasa objective ref name sci february nasa announced http wwwastrochemorg pahdb greatly upgraded database tracking polycyclic aromatic hydrocarbons pahs universe according scientists carbon universe may associated pahs possible starting materials formation life pahs seem formed shortly big bang widespread throughout universe associated new stars exoplanets ref name nasa ref see also astrochemistry extraterrestrial materials geochemistry nucleocosmochronology references external links http wwwpsrdhawaiiedu planetary science research discoveries educational journal articles cosmochemistry meteorites planetary science astrochemistry astrophysics


'''intensive care medicine''' also called '''critical care medicine''' medical specialty deals seriously critically ill patients risk recovering conditions may life threatening ref name includes providing life support invasive monitoring techniques resuscitation end life care ref name ficmabout ref doctors specialty often called '''intensive care physicians''' '''critical care physicians''' '''intensivists''' intensive care relies multidisciplinary teams composed many different health professionals teams often include doctors nurses physical therapists respiratory therapists pharmacists among others usually work together intensive care units

Applied science
Medicine and health
Intensive care medicine


icus within hospital ref name scope patients admitted intensive care unit medical needs greater general hospital ward provide indications icu include blood pressure support cardiovascular instability hypertension hypotension sepsis certain cardiac arrhythmias ref name icu needs include airway ventilator support due respiratory compromise cumulative effects multiple organ failure commonly referred multiple organ dysfunction syndrome also requires advanced care ref name patients may also admitted icu close monitoring intensive needs following


structures fall open closed units also exist ref name types intensive care units intensive care usually provided specialized unit hospital called intensive care unit icu critical care unit ccu many hospitals also designated intensive care areas certain specialities medicine ref name naming rigidly standardized types units dictated needs available resources hospital include coronary intensive care unit ccu sometimes cicu heart disease medical intensive care unit micu surgical intensive care unit


sicu pediatric intensive care unit picu neuroscience critical care unit nccu overnight intensive recovery oir shock trauma intensive care unit sticu neonatal intensive care unit nicu icu emergency department e icu medical studies suggest relation icu volume quality care mechanically ventilated patients adjustment severity illness demographic variables characteristics icus including staffing intensivists higher icu volume significantly associated lower icu hospital mortality rates example adjusted icu mortality patient average predicted risk icu death hospitals mechanically ventilated


patients annually hospitals mechanically ventilated patients annually hospitals intermediate numbers patients outcomes extremes icu delirium formerly inaccurately referred icu psychosis syndrome common intensive care cardiac units patients unfamiliar monotonous surroundings develop symptoms delirium maxmen ward may include interpreting machine noises human voices seeing walls quiver hallucinating someone tapping shoulder ref name test nolen hoeksema susan neurodevelopmental neurocognitive disorders '' ab normal psychology'' sixth ed new york city mcgraw hill education


print ref exists systematic reviews interventions sleep promotion related outcomes icu proven impactful overall health patients icu history english nurse florence nightingale pioneered efforts use separate hospital area critically injured patients crimean war introduced practice moving sickest patients beds directly opposite nursing station ward could monitored closely ref name vincent ref american neurosurgeon walter dandy created three bed unit johns hopkins hospital


units specially trained nurses cared critically ill postoperative neurosurgical patients ref name vincent danish anaesthesiologist bj rn aage ibsen became involved poliomyelitis epidemic copenhagen patients developed illness six month period suffering form respiratory airway paralysis ref name woollam ref patients treated using available negative pressure ventilators devices helpful limited number protect patient 's lungs aspiration secretions ibsen changed management directly instituting long term positive pressure ventilation using tracheal intubation


enlisted medical students manually pump oxygen air patients' lungs round clock time carl gunnar engstr developed one first artificial positive pressure volume controlled ventilators eventually replaced medical students change care mortality epidemic declined around patients managed three special bed areas aided charting medications management ibsen set became world 's first intensive care unit converted student nurse classroom copenhagen municipal hospital provided one first accounts


care resources dedicated personnel available provided better care ''ad hoc'' provision intensive care services spread throughout hospital university pittsburgh first critical care residency established united states society critical care medicine formed monitoring monitoring refers various tools technologies used obtain information patient 's condition include tests evaluate blood flow gas exchange body assess function organs heart lungs broadly two common


types monitoring icu noninvasive invasive ref name ref noninvasive monitoring noninvasive monitoring require puncturing skin usually cause pain tools inexpensive easier perform faster result ref name vital signs includes heart rate blood pressure breathing rate body temperature echocardiogram evaluate function structure heart electroencephalography eeg assess electrical activity brain electrocardiogram detect abnormal heart rhythms electrolyte disturbances coronary blood flow pulse oximetry monitoring oxygen levels blood thoracic electric bioimpedance teb cardiography


monitor fluid status heart function ultrasound evaluate internal structures including heart lungs gallbladder liver kidneys bladder blood vessels invasive monitoring invasive monitoring generally provides accurate measurements tests may require blood draws puncturing skin painful uncomfortable ref name arterial line directly monitor blood pressure obtain arterial blood gas measurements blood draws venipucture monitor various blood components well administer therapeutic treatments intracranial pressure monitoring assess pressures inside skull brain intravesicular manometry bladder pressure measurements assess


intra abdominal pressure central line peripherally inserted central catheter picc lines drug infusions fluids total parenteral nutrition bronchoscopy look lungs airways sample fluid within lungs pulmonary artery catheter monitor function heart blood volume tissue oxygenation procedures treatments intensive care usually takes system system approach treatment ref name ref alphabetical order nine key systems considered intensive care setting cardiovascular system central nervous system endocrine system gastro intestinal tract nutritional condition hematology integumentary system microbiology including sepsis status renal metabolic


respiratory system nine key systems considered observation intervention impression basis produce daily plan endotracheal tube cardiovascular temporary cardiac pacing catheters atrial ventricular dual chamber pacing intra aortic balloon pumping stabilize patients cardiogenic shock ventricular assist device aid function left ventricle commonly patients advanced heart failure gastro intestinal tract feeding tube artificial nutrition nasogastric intubation used deliver artificial nutrition also used remove stomach intestinal contents peritoneal aspiration lavage sample fluid


abdominal cavity renal hemofiltration acute kidney injury respiratory mechanical ventilation assist breathing oxygenation endotracheal tube tracheotomy invasive mask helmet non invasive thoracentesis tube thoracostomy remove fluid air pleural cavity drugs wide array drugs including limited inotropes sedatives broad spectrum antibiotics analgesics physiotherapy mobilization interventions early mobilization exercises improve muscle strength sometimes suggested common complications icu intensive care units associated increased risk


various complications may lengthen patient 's hospitalization ref name common complications icu include acute renal failure catheter associated blood stream infection catheter associated urinary tract infection delirium gastrointestinal bleeding pressure ulcer venous thromboembolism ventilator associated pneumonia ventilator induced barotrauma death training icu care requires specialized patient care need led use multidisciplinary team provide care patients ref name ref ref name staffing intensive care units country hospital unit institution ref name medicine critical care medicine increasingly important medical specialty physicians training critical care medicine referred


intensivists medical research demonstrated icu care provided intensivists produces better outcomes cost effective care led leapfrog group make primary recommendation icu patients managed co managed dedicated intensivist exclusively responsible patients one icu australia australia training intensive care medicine college intensive care medicine united kingdom uk doctors enter intensive care medicine training completing two foundation years core training either emergency medicine anaesthetics acute medicine


core medicine trainees dual train one specialties however recently become possible train purely intensive care medicine also possible train sub specialties intensive care medicine including pre hospital emergency medicine united states united states specialty requires additional fellowship training physicians completed primary residency training internal medicine pediatrics anesthesiology surgery emergency medicine us board certification critical care medicine available five specialty boards intensivists primary training internal medicine sometimes pursue combined fellowship training


begun ref name ref certifications became specialized patient population american association critical care nurses include pediatrics neonatal adult ref name nurse practitioners physician assistants nurse practitioners physician assistants types non physician providers care patients icus ref name providers fewer years school training typically receive clinical job education work part team supervision physicians pharmacists critical care pharmacists work medical team many aspects


include monitoring serum concentrations medication past medication use current medication use medication allergies ref name typically round team may differ institution ref name pharmacist attaining doctorate pharmacy may pursue additional training postgraduate residency become certified critical care pharmacists ref name pharmacists help manage aspects drug therapy may pursue additional credentialing critical care medicine bcccp board pharmaceutical specialties many critical care pharmacists part multi professional society critical care medicine ref name inclusion


pharmacist decreases drug reactions poor outcomes patients ref name registered dietitians nutrition intensive care units presents unique challenges due changes patient metabolism physiology critically ill critical care nutrition rapidly becoming subspecialty dieticians pursue additional training achieve certification enteral parenteral nutrition american society parenteral enteral nutrition aspen respiratory therapists respiratory therapists often work intensive care units monitor well patient breathing ref name ref respiratory therapists may pursue additional education training leading credentialing


adult critical care accs neonatal pediatric nps specialties therapists trained monitor patient 's breathing provide treatments help breathing evaluate respiratory improvement ref name may involved emergency care like managing airway humidification oxygen administering diagnostic test invasive non invasive mechanical ventilation management training patients weaning ventilator aerosol therapy inhaled nitric oxide therapy artery blood gas analysis providing physiotherapy ethical medicolegal issues economics general expensive technologically advanced resource intensive area medical care united


states estimates expenditure critical care medicine ranged us billion year critical care medicine accounted gdp national health expenditure hospital costs hospital stays icu services accounted one quarter discharges nearly one half aggregate total hospital charges united states mean hospital charge times higher discharges icu services without see also mechanical ventilation extracorporeal membrane oxygenation telemetry chronic critical illness critical care nursing notes


references http wwwlwwcom product intensive care medicine irwin rippe https webarchiveorg web http wwwlwwcom product civetta taylor kirby 's critical care https shoplwwcom marino icu book print ebook updates p icu book marino http wwwlwwcom product ''procedures techniques intensive care medicine irwin rippe'' history references http wwwsobraticombr brazilian society intensive care sobrati http wwwmedicinaintensivacombr personagenshtm history http wwwsccmorg society critical care medicine reading external links http wwwcicmorgau college intensive care medicine australia new zealand http wwwanzicscomau australia new zealand intensive care society http wwwsccmorg society critical care medicine http wwwveccsorg veterinary emergency critical care society http wwwesicmorg esicm


european society intensive care medicine http espnic onlineorg espnic society paediatric neonatal intensive care healthcare professionals europe https webarchiveorg web http wwwicsacuk uk intensive care society http wwwscottishintensivecareorguk scottish intensive care society http wwwhksccmorg hong kong society critical care medicine http wwwcsccmorg chinese society critical care medicine http wwwtsccmorgtw english eng asp taiwan society critical care medicine http richannelorg iron lungs intensive care iron lungs intensive care royal institution debate february


'''corporate law''' also known '''business law''' '''enterprise law''' sometimes '''company law''' body law governing rights relations conduct persons companies organizations businesses term refers legal practice law relating corporations theory corporations corporate law often describes law relating matters derive directly life cycle corporation ref name armour john armour henry hansmann reinier kraakman mariana pargendler corporate law ''the anatomy corporate law comparative functional approach'' eds reinier kraakman john armour paul davies luca enriques henry


law term '''business law''' mostly refers wider concepts ''commercial law'' law relating commercial business related purposes activities cases may include matters relating corporate governance financial law used substitute corporate law '''business law''' means law relating ''business corporation'' business enterprises including activity raising capital company formation registration government overview academics identify four legal characteristics universal business enterprises separate legal personality corporation access tort contract law


manner similar person limited liability shareholders shareholder 's personal liability limited value shares corporation transferable shares corporation public company shares traded stock exchange delegated management board structure board directors delegates day day management company executives ref name armour widely available user friendly corporate law enables business participants possess four legal characteristics thus transact businesses thus corporate law response three endemic opportunism conflicts managers shareholders controlling


non controlling shareholders shareholders contractual counterparts including creditors employees corporation may accurately called company however company necessarily called corporation distinct characteristics united states company may may separate legal entity often used synonymous firm business according black 's law dictionary america company means corporation less commonly association partnership union carries industrial enterprise types business associations include partnerships uk governed


partnership act trusts pension fund companies limited guarantee like community organizations charities corporate law deals companies incorporated registered corporate company law sovereign state sub national states defining feature corporation legal independence shareholders corporate law corporations sizes separate legal personality limited unlimited liability shareholders shareholders control company board directors turn typically delegates control corporation 's day day


operations full time executive shareholders' losses event liquidation limited stake corporation liable remaining debts owed corporation 's creditors rule called limited liability names corporations end ltd variant inc plc almost legal systems corporations much legal rights obligations individuals jurisdictions extends allow corporations exercise human rights real individuals state may responsible human


rights violations born existence members obtaining certificate incorporation die lose money insolvency corporations even convicted criminal offences corporate fraud corporate manslaughter corporate law background order understand role corporate law plays within commercial law useful understand historical development corporation development modern company law history corporation hogarthian image south sea bubble edward matthew ward tate gallery although forms companies thought


existed ancient rome ancient greece closest recognizable ancestors modern company appear th century increasing international trade royal charters granted europe notably england holland merchant adventurers royal charters usually conferred special privileges trading company including usually form monopoly originally traders entities traded stock account later members came operate joint account joint stock new joint stock company born early companies purely economic ventures


belatedly established benefit holding joint stock company 's stock could seized debts individual member development company law europe hampered two notorious bubbles south sea bubble england tulip bulb bubble dutch republic th century set development companies two leading jurisdictions back century popular estimation modern company law jack giant joint stock cartoon ''town talk'' satirizing 'monster' joint stock economy came


joint stock companies act companies almost inevitably returned forefront commerce although england circumvent bubble act investors reverted trading stock unincorporated associations repealed however cumbersome process obtaining royal charters simply insufficient keep demand england lively trade charters defunct companies however procrastination amongst legislature meant united kingdom joint stock companies act first equivalent modern companies formed


registration appeared soon came limited liability act event company 's bankruptcy limited liability shareholders amount capital invested beginning modern company law came two pieces legislation codified joint stock companies act behest vice president board trade mr robert lowe legislation shortly gave way railway boom numbers companies formed soared later nineteenth century depression took hold company


numbers boomed many began implode fall insolvency much strong academic legislative judicial opinion opposed notion businessmen could escape accountability role failing businesses last significant development history companies decision house lords ''salomon v salomon co'' house lords confirmed separate legal personality company liabilities company separate distinct owners december article ''the economist'' identified development joint


stock company one key reasons western commerce moved ahead rivals middle east post renaissance era corporate structure law business organizations originally derived common law england evolved significantly th century common law countries today commonly addressed forms corporation limited company unlimited company limited liability partnership limited partnership profit corporation company limited guarantee partnership sole proprietorship proprietary limited company statutory business form several countries including australia many countries forms business entity unique


country although equivalents elsewhere examples limited liability company llc limited liability limited partnership lllp united states types business organizations cooperatives credit unions publicly owned enterprises established purposes parallel supersede even replace profit maximization mandate business corporations various types company formed different jurisdictions common forms company ''a company limited guarantee'' commonly used companies formed non commercial purposes clubs charities members guarantee


ltd counterpart members shareholders benefit limited liability company ever go formal liquidation however many specific categories corporations business organizations may formed various countries jurisdictions throughout world corporate legal personality one key legal features corporations separate legal personality also known personhood artificial persons however separate legal personality confirmed english law house lords ''salomon v salomon co'' separate legal personality often unintended


consequences particularly relation smaller family companies ''b v b'' fam held discovery order obtained wife husband effective husband 's company named order separate distinct ''macaura v northern assurance co ltd'' claim insurance policy failed insured transferred timber name name company wholly owned subsequently destroyed fire property belonged


company longer insurable interest claim failed separate legal personality allows corporate groups flexibility relation tax planning management overseas liability instance ''adams v cape industries plc'' held victims asbestos poisoning hands american subsidiary could sue english parent tort whilst academic discussion highlights certain specific situations courts generally prepared pierce corporate veil look directly impose liability directly individuals behind company actually practice


piercing corporate veil english law non existent however court look beyond corporate form corporation sham perpetuating fraud commonly cited examples company mere fa ade company effectively agent members controllers representative company taken personal responsibility statement action company engaged fraud criminal wrongdoing natural interpretation contract statute reference corporate group


said ''ultra vires'' void way distinction organs company expressed various ''corporate powers'' objects things company able powers means could usually expressions powers limited methods raising capital although earlier times distinctions objects powers caused lawyers difficulty jurisdictions modified position statute companies generally capacity things natural person could


power way natural person could however references corporate capacity powers quite consigned dustbin legal history many jurisdictions directors still liable shareholders cause company engage businesses outside objects even transactions still valid company third party many jurisdictions also still permit transactions challenged lack corporate benefit relevant transaction prospect commercial benefit


company shareholders artificial persons companies act human agents main agent deals company 's management business board directors many jurisdictions officers appointed board directors normally elected members officers normally appointed board agents enter contracts behalf company third parties although company 's agents owe duties company indirectly shareholders exercise powers proper purpose generally speaking


officers agents include almost torts law relating crimes committed companies complex varies significantly countries corporate crime corporate manslaughter corporate homicide act corporate governance corporate governance primarily study power relations among corporation 's senior executives board directors elect shareholders general meeting employees well stakeholders creditors consumers environment community large one main differences different countries internal form companies


stakeholders many scholars shifted discussing law terms principal agent problems view basic issue corporate law principal party delegates property usually shareholder 's capital also employee 's labour control agent ie director company possibility agent act interests opportunistic rather fulfill wishes principal reducing risks opportunism agency cost said central goal corporate law constitution bond issued


dutch east india company dating november amount florins rules corporations derive two sources country 's statutes us usually delaware general corporation law dgcl uk companies act ca germany http wwwbundesrechtjurisde aktg aktiengesetz aktg http wwwbundesrechtjurisde gmbhg indexhtml gesetz betreffend die gesellschaften mit beschr nkter haftung gmbh gesetz gmbhg law set rules mandatory rules derogated examples important rules cannot derogated would usually include fire


common law countries split corporate constitution two separate documents uk got rid memorandum association articles incorporation primary document generally regulate company 's activities outside world states objects company meant follow eg company makes automobiles specifies authorised share capital company articles association laws secondary document generally regulate company 's internal affairs management procedures board meetings dividend entitlements etc event


accede somehow one benefit shareholders' agreement usually confidential jurisdictions require shareholders' agreements publicly filed another common method supplementing corporate constitution means ''voting trusts'' although relatively uncommon outside united states certain offshore jurisdictions jurisdictions consider company seal part constitution loose sense word company requirement seal abrogated legislation countries balance power adolf berle ''the


modern corporation private property'' argued separation control companies investors meant endangered american economy led mal distribution wealth important rules corporate governance concerning balance power board directors members company authority given delegated board manage company success investors certain specific decision rights often reserved shareholders interests could fundamentally affected necessarily rules directors


removed office replaced meetings need called vote issues easily constitution amended necessarily affects relations power principle corporate law directors company right manage expressed statute dgcl states blockquote business affairs every corporation organized chapter shall managed direction board directors except may otherwise provided chapter


certificate incorporation blockquote germany aktg says management board aktg supervisory board 's role stated oversee '' berwachen'' united kingdom right manage laid law found part model articles means default rule companies opt ca reserving powers members although companies rarely uk law specifically reserves shareholders right duty approve substantial non cash asset transactions ca means


company value minimum maximum similar rules though much less stringent exist dgcl case law germany called ''holzm ller doktrin'' probably fundamental guarantee directors act members' interests easily sacked great depression two harvard scholars adolf berle gardiner means wrote ''the modern corporation private property'' attack american law failed hold directors account linked growing power autonomy directors economic crisis


reason ''ein wichtiger grund'' though include vote confidence shareholders terms last five years unless shareholders vote otherwise aktg lets shareholders demand meeting us delaware lets directors enjoy considerable autonomy k dgcl states directors removed without cause unless board classified meaning directors come appointment different years board classified directors cannot removed unless gross misconduct director 's autonomy shareholders seen dgcl allows plurality


voting states shareholder meetings called constitution allows problem america directors usually choose company incorporated b dgcl says constitutional amendment requires resolution directors contrast constitutional amendments made time shareholders germany aktg uk ca countries co determination employ practice workers enterprise right vote representatives board directors company director duties jurisdictions directors


owe strict duties good faith well duties care skill safeguard interests company members many developed countries outside english speaking world company boards appointed representatives shareholders employees codetermine company strategy corporate law often divided corporate governance concerns various power relations within corporation corporate finance concerns rules capital used directors also owe strict duties permit conflict interest conflict duty act best interests


standard skill care director owes usually described acquiring maintaining sufficient knowledge understanding company 's business enable properly discharge duties duty enables company seek compensation director proved director shown reasonable skill care turn caused company incur loss many jurisdictions company continues trade despite foreseeable bankruptcy directors forced account trading losses personally directors also strictly charged exercise


forms designed provide limited liability members organization external investors business organizations originated agency law permits agent act behalf principal exchange principal assuming equal liability wrongful acts committed agent reason partners typical general partnership may held liable wrongs committed one partner forms provide limited liability able state provides mechanism businesses follow certain guidelines able escape