Creation of Money in Slovakia

In: Historical Events

Submitted By zygbaja
Words 3965
Pages 16
Introduction

Money is nothing and money is everything. Money takes very important role in our society. People cannot imagine life without them. Even little kid knows that he can buy most desired thing for money. Money is a special good which performs a role of global equivalent by expressing value of all other goods. Nowadays we can pay for services in cash, checks, and bank cards. In Slovak republic, like everywhere else, real circulation represents notes, coins and paper money. In this work is analyzed where did the money come from, evolution, what caused their appearance, how they have been accepted in society then. What factors influenced the development of trade exchange and measure as it is today. So, where did the money which is so important in our lives come from?

Contents

Definition of money 3
Theories of money origin 4
Prehistoric material money 5
Prehistoric metal money 7
First coins 8
Money in Slovakia 10
Money before 1993 10
Money in Slovakia after 1993 11
Slovakia and Euro 11
Conclusions 13
References 14

Definition of money

In essence, to satisfy our need we produce goods and provide services (or just do what we need to do). And papers which are called money do not bring any direct benefit. Doubled company’s products, we become richer, but if we print more money we do not become richer at all. With this example we can show that money is totally irrelevant thing. On the other hand, money and financial institutions related to them are very important; money is a much better exchange unit, simplifies all the troubles of exchange and barter-specific costs. If we surrendered monetary system we would lose current exchange mechanism, in economy would prevail chaos, and would be difficult to determine what good is worth of another and with a division of labor, full production capacity wouldn’t be reached without…...

Similar Documents

Money

...and other more subtle forms of discrimination once on the job (Major G. Coleman, 2004). According to David R. Williams, Harold W. Neighbors, and James S. Jackson (2003), Recognizing that health behaviors may be the pathway through which perceptions of discrimination can affect health, due to cigarettes and alcohol. A positive association indicates that higher levels of discrimination were associated with higher levels of illness and health risks (David R. Williams, Harold W. Neighbors, and James S. Jackson 2003). Discrimination and maltreatment of African Americans in the workplace can lead to negative psychological and emotional consequences. They encounter both sexual and racial harassment in the workplace. Racial harassment involves creation of hostile work environment on the basis of race. It is a form of discrimination involving verbal harassment through actions such as: name calling, verbal abuse, epithets, threats, slurs, derogatory comments, unwelcome remarks, or innuendoes in attributing and individual’s behavior to his or her racial or ethnic affiliation(Felix O. Chima and Willaim D. Wharton). Research shows that African Americans are being discriminated against in Recruitment and promotion are victims of racial harassment in the workplace. Despite the knowledge that work is essential to the well-being of all humans, some African Americans are forced to leave their employment because of stresses from hostile work environment (Leymann, 1990). Some stay and may......

Words: 2812 - Pages: 12

The Creation

...THE CREATION by: James Weldon Johnson (1871-1938) ND God stepped out on space, And He looked around and said, "I'm lonely -- I'll make me a world."   And far as the eye of God could see Darkness covered everything, Blacker than a hundred midnights Down in a cypress swamp.   Then God smiled, And the light broke, And the darkness rolled up on one side, And the light stood shining on the other, And God said, "That's good!"   Then God reached out and took the light in His hands, And God rolled the light around in His hands Until He made the sun; And He set that sun a-blazing in the heavens. And the light that was left from making the sun God gathered it up in a shining ball And flung it against the darkness, Spangling the night with the moon and stars. Then down between The darkness and the light He hurled the world; And God said, "That's good!"   Then God himself stepped down -- And the sun was on His right hand, And the moon was on His left; The stars were clustered about His head, And the earth was under His feet. And God walked, and where He trod His footsteps hollowed the valleys out And bulged the mountains up.   Then He stopped and looked and saw That the earth was hot and barren. So God stepped over to the edge of the world And He spat out the seven seas; He batted His eyes, and the lightnings flashed; He clapped His hands, and the thunders rolled; And the waters above the earth came down, The cooling waters came......

Words: 590 - Pages: 3

Money

...MONEY & BANKS …. THE HIDDEN TRUTH BEHIND GLOBAL DEBT . 1) What is money... how is it created and who creates it? 2) Why is almost everyone up to their eyeballs in debt... individuals, businesses and whole nations? 3) Why can’t we provide for our daily needs - homes, furnishings cars etc. without borrowing? 4) How much could prices fall and wages increase if businesses did not have to pay huge sums in interest payments which have to be added to the cost of goods and services they supply...? 5) How much could taxes be reduced and spending on public services such as health and education be increased if governments created money themselves instead of borrowing it at interest from private banks…? "If you want to be the slaves of banks and pay the cost of your own slavery, then let the banks create money…" Josiah Stamp, Governor of the Bank of England 1920. WHAT IS MONEY....? It is simply the medium we use to exchange goods and services. * Without it, buying and selling would be impossible except by direct exchange. * Notes and coins are virtually worthless in their own right. They take on value as money because we all accept them when we buy and sell. * To keep trade and economic activity going, there has to be enough of this medium of exchange called money in existence to allow it all to take place. * When there is plenty, the economy booms. When there is a shortage, there is a slump. * In the Great Depression, people wanted to work, they......

Words: 5999 - Pages: 24

The Creation

...that God is the source of the entire natural world. From this creation, we have day and night, land and water, heaven and earth. All the stars, moons, and planets are His design. Everything we see today is a result of that creation. All these things He created for His own pleasure. God desired to populate the earth. He did this with animals and humans. This means God also created man (and woman). All was flawless in the world. There was no death, no sin. Adam and Eve had a perfect relationship with each other, and with God. He had created them in His own image. He walked and talked with them frequently. He gave Adam complete control of everything in the garden, allowing them to eat “of every tree of the garden” (Gen.2:16, NKJV) except for “the tree of knowledge and evil” (Gen. 2:17, NKJV). As long as Adam followed this one rule, he and eve were welcome in the garden. This all changed when Eve allowed herself to be tempted by Satan while Adam stood idly by. At this point, all perfection came to an end. Death, both physical and spiritual, had entered the world. Adam and Eve had disobeyed God’s one commandment. They were thrown out of Eden, and separated from God. This one act has had massive impact on the entire population of the world ever since. The next generation, and all generations that followed, wasn’t immune from sin. The story of Cain and Abel (Gen. 5, NKJV) is one of jealousy and murder. God’s once perfect creation continued to live in sin. In the subsequent chapters......

Words: 846 - Pages: 4

Creation

...CRNs: 32306, 32307, 32306, 35587 Lincoln Hall 120 Monday and Wednesday 9:00-9:50 am Friday Sections Professor Rachel Havrelock Associate Professor Department of English raheleh@uic.edu Office 1909 University Hall Office Hours: Monday, Wednesday and Friday 1:00-2:00 pm Professor Scott Grunow Lecturer Department of English Cobelli@aol.com Course Description This introductory class presents a literary perspective on the Bible. Texts from the Bible stand at the center of analysis, while accompanying textbooks help us to contexualize biblical materials within history. Each week revolves around a particular theme with one lecture on the Hebrew Bible/Old Testament and one on the New Testament. Themes include creation, birth, the hero, the mountain, the community, the Temple, suffering, and the end of time. As we place biblical texts in their historical contexts, we will consider the Bible as a literary work with distinct genres, themes and conventions. The thematic connections between the Hebrew Bible and the New Testament will be explored at the same time that differences in their style and message are investigated. While reading the Bible, we will develop a vocabulary for discussing literary texts as well as a vocabulary specific to texts from the ancient world. This lively and pluralistic course provides a thorough introduction to the literature of the Bible. Course Objectives The Bible is a central text that has influenced literature,......

Words: 2487 - Pages: 10

Creation

...at first submit to the ravages of time until after many centuries had passed 6. How do we know the birth order of Noah’s sons? Be specific.Ham was the youngest, Japheth was the oldest, Shem is mentioned first because through him that God's Messiah would come 7. When did Methuselah die (how old, relation to flood)? See the genealogy chart, pg 13. 969 years 8. Name the two fundamental reasons for the flood. the sins for the "sons of god" and the sins for general man 9. The “sons of God” are identified by Davis as being whom? certain identification of the son's of God is impossible at this time 10. Who are the “nepilim”? mighty en 11. Explain the meaning of the phrase, “The Lord repented.” it is the pain of God for the love of his fallen creation 12. Describe Noah’s character.manward and godward, he seperated himself from the wickedness, THE FLOOD Bible Topics | * The Flood * The sin of Ham | People to Know | Places to Know | Terms to Know | NoahShemHamJapheth | | Gilgamesh EpicArk | Study Questions Answer the following questions (based on the reading), save it and then submit it to the professor. 13. Describe the ark. made of gopher wood, 437.5 feet long, 72.92 feet wide, 43.75 feet high, three decks, 95,700 square feet, gross tonage of 13,960 14. Read the following verses and discuss what they have to say about Noah: 6:9- righteous man, blameless, he walked faithfully with God 6:22 he did everything just as God commanded him to 7:1-5 The Lord told Noah to......

Words: 695 - Pages: 3

Money Money Money

...How Record Companies Make Money By Diane Rapaport Record companies make money by selling recordings. It is a high-risk business. According to the Recording Industry Association of America (RIAA), approximately 90% of the records that are released by major recording labels fail to make a profit. Independent labels have to be more careful in their choices and in their allocation of expenses because they do not have the resources to cover many failures. However, they can make and promote records for far lower costs than major labels and be profitable with far fewer sales. The budgets for making and selling recordings are tied to what labels estimate they will sell. Knowing how many recordings might be sold makes it possible to budget recording costs. Most profitable labels have histories of selling and promoting that enable them to estimate gross income. Recording Costs Recording costs are borne by artists, not record companies. Record companies commonly make loans to artists (all-in advances) for these costs and recoup them from royalties. With the exception of jazz and classical artists, new major label artists can spend between $100,000 and $500,000 to make a record, but recording budgets of one million dollars and more are not uncommon. Many independent artists will spend less than $15,000. Manufacturing Costs Manufacturing includes replicating recorded material and packaging. The costs depend on the number to be manufactured. Manufacturing costs...

Words: 835 - Pages: 4

Creation

...Jerri Shirley Turabian Theo 201 B14 Creation “Is God actively involved?” “In the beginning God created the heavens and the earth. Now the earth was formless and empty, darkness was over the surface of the deep, and the Spirit of God was hovering over the waters.” (Gen 1:1-2) God has been involved with creation since inception and He continues His involvement today in each and every one of us, whether we recognize Him or not. Without God humans, plants, animals and the things that crawl upon the earth would not exist. The cosmos would not exist. The sun, moon and the stars would not exist. Nothing would exist if God did not have His hand directly in it, through it, and actively taking part in it. God is all knowing –Omniscient- meaning he “has full knowledge of events before they happen.” (Towns, pg. 141) God alone created all life simply by speaking what He wanted into existence. “And God said, “Let the water under the sky be gathered to one place and let dry ground appear.” (Gen 1:9). This belief is the root of every Christian’s doctrine and serves as the glue that holds us together. In truth it is the foundation by which we build our families, the manner in which we conduct ourselves while at work ,and how we interact with others, Christian and non-Christian. “In the beginning,” God carefully calculated and worked out every intricate detail of creation before speaking everything we see today into existence. God cared so much for all living......

Words: 783 - Pages: 4

Application of 7ps in Western Union Money Transfer & Service Creation and Delivery

...Overview The Western Union Company is the global leader in electronic money transfer. In this market, Western Union holds an 18% global market share. Western Union offers a quick, convenient and reliable way to send and receive money around the world in minutes. Originally founded in the United States in 1851 as the Western Union Telegraph Company, Western Union is now active in 200 countries, with more than 375,000 points of sale, processing in excess of 109 million transactions every year. Western Union is a Fortune 500 company, and its logo is ranked among the world’s Top 50 Brands. Vision: To become a dynamic business oriented organization, serving the needs of customers and other stakeholders. Mission: Western union aims to provide the best money transfer service. They serve the needs of customers by providing a simple, fast and reliable international money transfer service. Slogan: The fastest way to send and received money worldwide. Industry: Financial services Founded: 1851 Founder: Ezra Cornell Headquarter: Englewood, Colorado Application of 7ps in Western Union Money Transfer & Service Creation and Delivery 01. Product Product is deep core heart of an organization. Success of an organization depends on the quality of a product. In case of service product is invisible. Service product lies at the heart of a firms marketing strategy. If a product is poorly designed, it would not create meaningful value for customers, even if the rest of 7ps are......

Words: 2408 - Pages: 10

Slovakia Country Analyses

...Slovakia country risk analysis Seminar Paper Submitted at Lauder Business School, Vienna in Corporate Risk Management by David GRÜNFELD KRÁLIK Eva PÓSA Valentine TARELKO * Submitted on: 26.04.2014 Table of contents 1. Introduction 5 2. Political Risk 6 2.1. Government stability 6 2.2. Corruption 7 2.3. Socioeconomic conditions 8 2.4. Internal and External Conflict 10 2.5. Investment Profile 11 2.6. Military in politics 14 2.7. Religious tensions 15 2.8. Law and Order 15 2.9. Democratic Accountability 15 2.10. Bureaucracy quality 16 3. Current Economic Situation in Slovakia 17 3.1. Slovakian Economic Outlook 18 3.2. Outlook Economic Risk Evaluation for the Slovak Republic, Eurozone and the EU 19 3.3. Components of the Economic Risk Analysis 20 3.3.1. GDP Growth Rate 20 3.3.2. Government Budget 21 3.3.3. Current Account to GDP 22 3.3.4. Inflation Rate 22 4. Financial Risk Assessment 24 4.1. Foreign Debt as a Percentage of GDP 24 4.2. Foreign Debt Service as a Percentage of Exports of Goods and Services 24 4.3. Current Account as a Percentage of Exports of Goods and Services 25 4.4. Foreign Debt as a Percentage of GDP 25 4.5. Exchange Rate Stability 26 5. Conclusion 27 6. List of references 28 7. Appendix 30 Methodology: Country risk is a composite concept that relates not only to political risk but also to financial and economic risk. Specifically, this paper aims to......

Words: 9754 - Pages: 40

The Creation

...Essay #2 Compare/Contrast ENG 099/011 Professor Ficarotta Patrick St. Fleur The Creation The creation of the world has been told in many ways and through the cultures has significant differences. The concept of creation that I’m most familiar with come from the bible, Genesis: Chapter 1-3. However during my recent studies on creation myths, I’ve learned many others. A common theory of the earth started is reflected in the bible and occurred within six days. Creation myths are beliefs and stories on the earliest beginnings of the world. Oral traditions throughout the different cultures are regarded as truth for the “creation” and served as the historical reference we know today. Common element s of creation myths begin with a birth, a supreme being, human and animals and instructions from the creator. Almost all cultures have at least if not all these elements in the creation myths but vary to some degree. Every revolving culture has developed creation myths centered on historical interpretation, factual events and cultural influence however the African Bushmen and the Egyptian’s are similar on morals however different in the creation. All creation myths consist of a supreme being of some kind or form. The being is not always represent but is importance is just as equal. The Greek and the Japanese show gods and goddesses, whereas the Aborigines had to supreme beings: Father of All Spirits and the Sun Mother.(Murtagh). The Japense also has two gods ......

Words: 702 - Pages: 3

Smart Home Market Entry Slovakia

...References ................................................................................................................................ I Appendix............................................................................................................................ IV Abbreviations ICT..............................................Information and Communication Technology IoT...............................................Internet of Things IT.................................................Information Technology NPV............................................Net Present Value R&D............................................Research and Development SK................................................Slovakia TKS..............................................Telekom Slovakia OECD...........................................Organization for Economic Co-operation and Development Page|0 1. Introduction The purpose of the present report is to provide a market entry strategy for Flatout’s Smart Home Solution into the Slovak market. Flatout Technologies is a Viennese startup offering a Smart Home Solution to utilities and telecommunication companies. Flatout acts as a single point of contact for its clients, providing both the necessary software and the hardware. As Slovak Telekom has shown interest in becoming a customer of Flatout, the present report shows a potential entry to the market. The report analyzes certain aspects from Flatout’s perspective, and others from......

Words: 8650 - Pages: 35

Credit Creation

...Credit Creation by Banks Central bank is the first source of money supply in the form of currency in circulation. The Reserve Bank of Indian is the note issuing authority of the country. The RBI ensures availability of currency to meet the transaction needs of the economy. The Total Volume of money in the economy should be adequate to facilitate the various types of economic activities such as production, distribution and consumption. The commercial banks are the second most important sources of money supply. The money that commercial banks supply is called credit money. The process of 'Credit Creation' begins with banks lending money out of primary deposits. Primary deposits are those deposits which are deposited in banks. In fact banks cannot lend the entire primary deposits as they are required to maintain a certain proportion of primary deposits in the form of reserves with the RBI under RBI & Banking Regulation Act. After maintaining the required reserves, the bank can lend the remaining portion of primary deposits. Here bank's lend the money and the process of credit creation starts. Suppose there are a number of Commercial Banks in the Banking System – Bank 1, Bank 2, Bank 3, & So on. To begin with let us suppose that an individual "A" makes a deposit of Rs. 100 in bank 1. Bank "1" is required to maintain a Cash Reserve Requirement of 5% (Prevailing Rate) which is decided by the RBI's Monetary Policy from the deposits made by 'A'. Bank "1" is......

Words: 723 - Pages: 3

Creation

...bible isn’t a science book, it is a good thing because all the science books that I have read are based on human knowledge and ideas. These ideas have been changed over and over again because people discover new evidence and realize that they have been wrong before. That is why a new science or history book has to be written again. For example, in old history books and in the days of Columbus people thought the world was flat and people where afraid of falling off the earth. It wasn’t until an explorer traveled around the world to prove it was round. (Siegel, 2011) However, if they would have turned to the bible, Isaiah 40:22 states “circle of the Earth” proving that the Earth was round. It could have saved a whole lot of time and money. Looking at the bible, it never changes or has been proven wrong. It doesn’t need to because God created it and wrote it and he is right the first time. Evolutionists believe that the earth is billions of years old because it is the amount of time it takes for all the life forms to evolve. However, they do not consider that the earth was once covered by water. Something that may take years to form (the Grand Canyon for instance) could form quickly during the flood. Looking at this stand point, the flood coving the earth would alter, shift and mix up the entire face, rock formations and the rate of sediments laid down, not to mention the erosion. Over the years evolutionists and scientist have been proven wrong. Think about it,......

Words: 681 - Pages: 3

Money, Money, Money

...MONEY Like it. Loathe it. Want it. Waste it. But you just cannot ignore it. That is “money”. According to Wikipedia, money is “any object or record that is generally accepted as payment for goods and services and repayment of debts in a given country or socio-economic context”. Money was developed according to man’s needs and requirements. In the beginning, there was no money. People engaged in barter, “the exchange of good or service for another good or service” (Steven Cobb, 2007, page 1), without value equivalence. For instance, a bag of salt is exchanged for a bag of tea. However, since the items most traded were commodity products, the barter system posed several problems such as product storage, shelf life, durability, transportation and divisibility problems. The frustrations of people in the barter system soon led them to the creation of money. There are those who believe that the earliest forms of money were the Cowry shells and have been traced back to China in 1200 B.C. Then metallic money used as a mode of payment and was then made of gold, silver, copper or nickel because these were more durable, portable and easily divisible than Cowry shells. However, the problem of measuring its weight and value arose when the metals were not used as coin but as bullion. Additional problems such as inconsistent supply when mines were fully used, transportation and storage problems were also present. Eventually these soft metals were alloyed to cheaper...

Words: 758 - Pages: 4