Definition of Participation
Theories vary on how to measure "participation of other political elements."
In economics, fiat is one of three ways to guarantee the value of money, credit money and commodity money being alternatives - but both relying to some degree on the fiat. True fiat money has no trust or product value of its own, but is backed only by trust in the issuing government and its ability to collect taxes or require conversion of some other resource into currency.
This view is questioned by some theories of political economy that argue that there is always some intrinsic reliance on trust, or expectation of the delivery of the commodity itself. Critics of these views argue that withholding taxes in domestic trade or defying powerful nations regarding trade in narcotics or arms will very rapidly prove dangerous or fatal to some of the participants - and, furthermore, that at least some of these decisions are unpopular and are not reflective of the public will. This is a common accusation made by the anti-globalization movement which argues that governments have been elected on a mandate to oppose global free trade and instead pursued it.
Read more about this topic: Military Fiat
Famous quotes containing the words definition of and/or definition:
“It’s a rare parent who can see his or her child clearly and objectively. At a school board meeting I attended . . . the only definition of a gifted child on which everyone in the audience could agree was “mine.””
—Jane Adams (20th century)
“The physicians say, they are not materialists; but they are:MSpirit is matter reduced to an extreme thinness: O so thin!—But the definition of spiritual should be, that which is its own evidence. What notions do they attach to love! what to religion! One would not willingly pronounce these words in their hearing, and give them the occasion to profane them.”
—Ralph Waldo Emerson (1803–1882)