Producers and traditional commerce wholesalers typically operate with this type of electronic commerce.
History of the concept[ edit ] John Maynard Keynes envisaged the financial transaction tax in The year saw an early implementation of a financial transaction tax in the form of a stamp duty at the London Stock Exchange.
The tax was payable by the buyer of shares for the official stamp on the legal document needed to formalize the purchase. As of [update]it is the oldest tax still in existence in Great Britain. Instead of a fixed tax amount per transaction, the tax was in the amount of 0.
This was doubled to 0. Inin the wake of the Great DepressionJohn Maynard Keynes advocated the wider use of financial transaction taxes. In the Bretton Woods system for stabilizing currencies effectively came to an end.
In that context, James Tobininfluenced by the work of Keynes, suggested his more specific currency transaction tax for stabilizing currencies on a larger global scale. Feige proposed extending the tax reform ideas of John Maynard Keynes James Tobin  and Lawrence Summers to their logical conclusion, namely to tax all transactions.
The goal of the APT tax is to significantly improve economic efficiency, enhance stability in financial markets, and reduce to a minimum the costs of tax administration assessment, collection, and compliance costs.
One non-tax regulatory equivalent of Tobin's narrow tax, to require "non-interest bearing deposit requirements on all open foreign exchange positions", was considered in particularly but rejected. Economic literature of the period ss emphasized that derivatives and other variations in the terms of payment in trade-related transactions so-called "swaps" for instance provided a ready means of evading any tax other than the Automated Payment Transaction tax since it uniformly taxed all transactions.
Other measures and exemptions from such transaction taxes, to avoid punishing hedging a form of insurance for cashflows were also proposed. These tended to lead to generally more complex schemes that were not implemented, in part due to lack of standardization of risk reporting under the Basel I framework, which was itself a response to s financial speculation crises.
However, disclosure had not kept pace with practices. Regulators and policy-makers and theorists by the s had to deal with increasingly complex financial engineering and the "avoidance by change of product mix In this fashion, markets would innovate so as to avoid the tax" as they were doing with the creation of financial derivatives.
Advocates including Pollin, Palley and Baker  emphasized that transaction taxes "have clearly not prevented the efficient functioning of" financial markets in the 20th century. Many theorists raised the issue that hedging and speculation were more of a spectrum than a distinct duality of goals.
Bodnar et al, show that companies usually incorporate predictions of future price levels i. If hedging is really just about reducing risk, then why should our expectations of future market direction have any bearing on our hedging decisions?
On one level at the extremesthere is no doubt that hedging and speculation are very different activities.
However, once you move beyond the straightforward elimination of open positions, into more nuanced transactions involving complex hedging strategies or tenuous relationships between hedges and exposures, the distinction between a hedge and a bet becomes increasingly vague.
Some of these emphasized the automated nature of the trade. FTT proposals often emerge in response to specific crisis. For example, the December Mexican peso crisis reduced confidence in its currency.
In that context, Paul Bernd Spahn re-examined the Tobin taxopposed its original form, and instead proposed his own version in As a result, various new forms of financial transaction taxes were proposed, such as the EU financial transaction tax.Marketplace and technology standards for B2B e-commerce: progress, challenges, and the state of the art EC transactions, including B2C, B2B, C2C, and peer- 1 Data standard X12 No standard Proprietary Proprietary Limited, basic types.
Based on environmental, legal, social, and economic factors, reverse logistics and closed-loop supply chain issues have attracted attention among both academia and practitioners. The Columbia University Statistical Laboratory (location unknown) includes Hollerith tabulating, punching, and sorting machines, Burroughs adding machines, Brunsviga and Millionaire calculators (the latter was the first device to perform direct multiplication), plus reference works such as math and statistical tables.
Prof. Robert E. Chaddock (Statistics Dept) was in charge. A more complete definition is: E-commerce is the use of electronic communications and digital information processing technology in business transactions to create, transform, and redefine relationships for value creation between or among organizations, and between organizations and individuals.
Define electronic commerce (EC) and describe its various categories. 2. Describe and discuss the content and framework of EC. 3. Describe the major types of EC transactions. 4. Describe the digital revolution as a driver of EC.
Describe the business environment as a driver of EC. 6. Describe some EC business models. 7. 10 Signs You Know What Matters. Values are what bring distinction to your life. You don't find them, you choose them. And when you do, you're on the path to fulfillment.