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Military Drug Testing: How Often and Is It Random? | Zero-Tolerance Policy
Drug use can be a problem in any organization, but it is particularly important to prevent drug use in the military. The use of drugs can impact the safety of the military personnel and can lead to decreased performance and effectiveness. As a result, the military takes drug testing very seriously.
By US Health Testing3 years ago in Journal
Gresham's Law: Definition, Effects, and Example
The law stemmed from the historical use of precious metals to manufacture coins and their subsequent value. Since the abandonment of metallic currency standards, the theory often describes the stability and movement of different currencies in global markets. KEY TAKEAWAYS Sir Thomas Gresham lived from 1519 to 1579 and wrote about the value and minting of coins while working as a financier. Gresham's law is a principle that states that "bad money drives out good." The law observes that legally overvalued currency will drive legally undervalued currency out of circulation. The law observes the effects of currency debasement. Understanding Gresham's Law Sir Thomas Gresham lived from 1519 to 1579 and wrote about the value and minting of coins while working as a financier and later founded the Royal Exchange of the City of London. When Henry VIII changed the composition of the English shilling, replacing a substantial portion of the silver with base metals, citizens separated the English shilling coins and hoarded the coins containing more silver which were worth more than their face value. Both currency types were liquid and available simultaneously for use as acceptable forms of exchange. Gresham observed that bad money was driving out good money from circulation. Bad money is a currency with equal or less value than its face value. Good money has the potential for a greater value than its face value. People will choose to use bad money first and hold onto good money. The Scottish economist Henry Dunning Macleod attributed this law to Gresham in the 19th century. Good Money vs. Bad Money Historically, mints manufactured coins from gold, silver, and other precious metals, which gave the coins their value. Issuers of coins sometimes lowered the level of the precious metals used and passed the coins as full-value coins. New coins with less metal content had less market value and traded at a discount. The old coins retained a higher value. However, legal tender laws mandated that new coins with less metal content have the same face value as older coins. The new coins were legally overvalued, and the old coins were legally undervalued. Governments, rulers, and other coin issuers often implemented this policy to obtain revenue and repay debts borrowed in old coins using new coins at par value. Legally forced to treat both types of coins as the same monetary unit, buyers passed along their less valued coins as quickly as possible and held onto the old coins, thus debasing the currency, creating a fall in the purchasing power of the currency units. To fight Gresham’s law, governments often blamed speculators, implemented currency controls, prohibited removing coins from circulation, or confiscated privately owned precious metal supplies. Gresham's Law and Legal Tender Gresham's law is evident in a modern economy with legal tender laws. When all currency units are legally mandated to be recognized at the same face value, the traditional version of Gresham's law operates. In the absence of effectively enforced legal tender laws, Gresham's law operates in reverse as good money drives bad money out of circulation where people can decline to accept less valuable money. With the adoption of paper money as legal tender, the issuers of money can print money into existence and this ongoing debasement has led to a persistent trend of inflation as the norm in most economies. If a currency loses value rapidly, people tend to stop using it in favor of more stable foreign currencies, sometimes even in the face of repressive legal penalties. During a period of hyperinflation in Zimbabwe in 2008, the Zimbabwe dollar was the legal currency and many people abandoned its use in transactions, eventually forcing the government to recognize de facto and subsequent de jure dollarization of the economy. In the chaos of an economic crisis with a near-worthless currency, the government was unable to enforce its legal tender laws. Good, stable money drove bad, hyperinflated money out of circulation. Stable currencies, such as the U.S. dollar or the euro, can be considered good money as they circulate as an international medium of exchange. Weaker currencies of less developed nations circulate very little outside the jurisdictions of their issuing countries and can be considered bad money. Example of Gresham's Law In 1982, the U.S. government changed the composition of the penny to contain 97.5% zinc. This change made pre-1982 pennies worth more than their post-1982 counterparts, while the face value remained the same. Due to the debasement of the currency and resulting inflation, copper prices rose from an average of $0.6662/lb. in 1982 to $3.0597/lb. in 2006 with the purchasing power of a penny falling by nearly 80%. 1 2 As people began harvesting copper from old pennies, the U.S. imposed stiff penalties for melting coins, and the legislation carried a $10,000 fine or up to five years in prison if convicted of the offense. 3 What Are Legal Tender Laws? Countries implement legal tender laws to define what currency is recognized by law as a means to settle a public or private debt or meet a financial obligation, including tax payments, contracts, and legal fines or damages. The national currency is legal tender in every country. How Does Gresham's Law Apply When Both Paper and Precious Metal Coins are in Circulation? Gresham’s law is evident when paper notes are accepted by the population and circulate along with gold and or silver coins. During the Revolutionary War in the United States, bad paper money, accepted as a form of payment at the time, drove all valuable gold and silver coins, good money, from circulation. How Does the Use of a Gold Standard Affect Gresham's Law? When the U.S. dollar first gained prominence as the world’s reserve currency through the Bretton Woods Agreement in 1944, it was fully backed by gold. Since the global financial system has transitioned to fiat currencies, examples of Gresham’s law are rare. The Bretton Woods system required countries to guarantee the convertibility of their currencies into U.S. dollars, with the dollar convertible to gold bullion for foreign governments. 4 The Bottom Line Gresham's law states that "bad money drives out good" and is a monetary principle that can be applied to the currency markets. During the historical use of precious metals to manufacture coins, Gresham's law applied to the changing value of coins and their contents. Since the global financial system has transitioned to fiat currencies, examples of Gresham’s law are rare
By Surya Kumar3 years ago in Journal
Social media earnings
Social media has revolutionized the way we communicate, access information and consume media. With over 4 billion active users worldwide, social media has also become a powerful tool for earning money. From influencer marketing to selling products and services directly, social media has opened up new avenues for individuals and businesses to generate income. One of the most popular ways to earn money through social media is through influencer marketing. Influencer marketing involves partnering with individuals who have a large and engaged following on social media to promote products or services. The influencer is paid to create content that promotes the product or service to their followers, who are then likely to purchase the product or service. Influencer marketing has become a lucrative industry, with businesses spending billions of dollars each year on these campaigns. Influencer marketing is effective because it leverages the trust that individuals have in the opinions and recommendations of their social media friends and followers. Social media has also made it easier for individuals and businesses to sell products and services directly to their followers. For example, social media users have started to sell handmade or vintage items through platforms like Etsy or Instagram, while others sell digital products such as ebooks, courses, or printables. Social media has made it easier for individuals to reach a large audience, and to build a brand and reputation for their products and services. In addition, businesses have started to use social media as a valuable tool for earning money. By creating and sharing content that is interesting and relevant to their target audience, businesses can engage with their followers and build a community around their brand. This can help to generate leads, increase sales, and drive traffic to their websites. One of the key benefits of using social media as an earning tool is that it is low-cost and accessible, with anyone with a smartphone and an internet connection being able to use it to reach new customers and earn money. However, while social media is a powerful tool for earning money, it is important to use it responsibly and ethically. Many individuals and businesses have been caught using unethical or deceptive practices, such as buying fake followers or using bots to artificially boost their engagement. This can harm the reputation of the individual or business, and can damage the trust of their followers. Additionally, social media platforms have started to crack down on these practices, and individuals and businesses that engage in them risk being banned from the platform. Moreover, social media algorithms can change frequently, which can impact the reach and engagement of individuals and businesses. For example, a change in the Facebook algorithm may mean that a business's posts are no longer visible to their followers, resulting in a decrease in engagement and potential revenue. It is therefore important for individuals and businesses to stay up-to-date with changes in social media algorithms and adjust their strategies accordingly. In conclusion, social media has the potential to generate significant income through influencer marketing, selling products and services directly, and using it as a marketing tool for businesses. However, it is important to use social media in a responsible and ethical manner to reap its benefits as an earning tool. By using social media to engage with followers, build a community, and promote products and services in an authentic and transparent way, individuals and businesses can leverage the power of social media to earn money and achieve their goals. Start writing...
By Syed Farhat3 years ago in Journal
DEI Best Practices for Board of Directors (part 3)
Diversity, equity, and inclusion. In our previous two blogs, we have reviewed the many ways boards of directors can hold their CEOs accountable for diversity and equity, which leaves but one category left: inclusion. Of the three, inclusion can be the most difficult to monitor, because unlike diversity and equity, there are not as many quantitative statistics associated with this element of DEI. Nonetheless, there are still some quantitative as well as numerous qualitative elements that boards of directors can, should, and must confirm their CEOs are overseeing when it comes to inclusion. No reason to delay—let’s walk through each task!
By Dima Ghawi3 years ago in Journal
DEI Best Practices for Board of Directors (part 1)
In recent years, DEI initiatives have transformed from “nice-to-have” into “must-have” elements of an organization’s strategy, and this positive progress cannot be overemphasized. But although DEI initiatives require support from all levels of an organization, boards of directors may be uncertain about how to become involved in DEI, especially as many may not see themselves as directly linked to these initiatives. Fortunately, there is one linkage that facilitates extensive opportunities for boards of directors to support DEI: the connection between a board of directors and their CEO.
By Dima Ghawi3 years ago in Journal
Have Fun With DEI: Five Team-Building Activities
Diversity and inclusion are instrumental parts of every workplace. Proper understanding and implementation of DEI leads to increased productivity, a positive workplace culture, and more! But as with many initiatives, we are always looking for ways to make this educational process more fun. As such, I have compiled a list of five DEI team-building activities for the workplace that can be conducted with any level of employees, from new recruits to leadership teams. Let’s jump right in, shall we?
By Dima Ghawi3 years ago in Journal
Transformative Power: How Journaling Changed My Life
Ten years ago, when I was first introduced to the concept of journaling, I was very skeptical. How could putting my thoughts and feelings down on paper make any real difference in my life? But as I began to make journaling a daily habit, I quickly realized just how transformative it could be.
By Barry Hake3 years ago in Journal
Things to Consider Before Buying a Food Truck
Food trucks have become a popular and viable business option for those who are passionate about cooking and serving food. However, before jumping into the food truck business, there are several important factors to consider. In this article, we will discuss some of the key things to think about before buying a food truck.
By Boardwalk Bites3 years ago in Journal
