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Predictably Irrational In chapters 4 and 5, Ariely speaks in great detail of the differences between social norms—which include friendly requests with instant payback not being required—and market norms—which account for wages, prices, rents, cost benefits, and repayment being essential. He also explains how combining ...
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Predictably Irrational Social norms are not only cheaper, but often more effective as well." In chapter 6, Ariely collaborated with close friend George Loewenstein, a professor of economics and psychology at Carnegie Mellon University, to test the influence of arousal on decision making in high-emotion situations. Arie...
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Predictably Irrational Ariely blames this lack of self-control on people's two states in which they make their judgments—cool state and hot state. In our cool state we make rational long-term decisions, whereas in our hot state we give in to immediate gratification and put off our decisions made in the cool state. Arie...
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Predictably Irrational In chapter 8, Ariely discusses how we overvalue what we have, and why we make irrational decisions about ownership. The idea of ownership makes us perceive the value of an object to be much higher if we own the object. This illustrates the phenomenon of the endowment effect—placing a higher value...
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Predictably Irrational Students visiting the pub tasted two types of beer -- Budweiser and the MIT Brew (which contains balsamic vinegar). In the "blind test" the majority preferred the altered brew, but when they were told in advance that it was vinegar-laced, they chose the original Budweiser. Another group of studen...
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Predictably Irrational The result showed that the placebo is equally effective, thereby disputing the effectiveness of the original surgery. This example is one of many that illustrate the power of placebo in medical science. While the effect of placebo has been knowingly and unknowingly practiced for millennia, the in...
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Designing Economic Mechanisms is a 2006 book by economists Leonid Hurwicz and Stanley Reiter. Hurwicz received the 2007 Nobel Memorial Prize in Economic Sciences with Eric Maskin and Roger Myerson for their work on mechanism design. In this book, Hurwicz and Reiter presented systematic methods for designing decentraliz...
https://en.wikipedia.org/wiki?curid=18427573
Collateralized fund obligation A collateralized fund obligation (CFO) is a form of securitization involving private equity fund or hedge fund assets, similar to collateralized debt obligations. CFOs are a structured form of financing for diversified private equity portfolios, layering several tranches of debt ahead of ...
https://en.wikipedia.org/wiki?curid=18434821
Collateralized fund obligation Typically, owners of private equity assets will securitize a portfolio of funds as a way of generating liquidity without an outright secondary sale of the funds.
https://en.wikipedia.org/wiki?curid=18434821
African Charter for Popular Participation in Development and Transformation The was adopted in February 1990 at the "International Conference on Popular Participation in the Recovery and Development Process in Africa", Arusha, Tanzania. The Charter was officially adopted at the Twenty-fifth session of the Economic Comm...
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African Charter for Popular Participation in Development and Transformation The then UN Secretary-General, Javier Perez de Cuellar stated, in a message to the "International Conference on Popular Participation in the Recovery and Development Process in Africa" that "The continent needs to enter the 1990s with a clean s...
https://en.wikipedia.org/wiki?curid=18435995
Supermontage SuperMontage, abbreviated simply as SM, is an integrated trading system used in American stock exchange NASDAQ that was implemented in 2002. It features a fully integrated public limit order book and market maker quotations, the ability to enter multiple quotes, anonymous ordering, five-level-deep buy and ...
https://en.wikipedia.org/wiki?curid=18440286
Financial models with long-tailed distributions and volatility clustering have been introduced to overcome problems with the realism of classical financial models. These classical models of financial time series typically assume homoskedasticity and normality cannot explain stylized phenomena such as skewness, heavy ta...
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Financial models with long-tailed distributions and volatility clustering A Borel measure formula_10 on formula_11 is called a "Lévy measure" if formula_12 and If formula_5 is infinitely divisible, then the characteristic function formula_15 is given by where formula_17 and formula_18. This distribution was first intro...
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Financial models with long-tailed distributions and volatility clustering In the GARCH model, innovation (formula_33) is assumed that formula_34, where formula_35 and where the series formula_36 are modeled by and where formula_38 and formula_39. However, the assumption of formula_35 is often rejected empirically. For ...
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Werner Stark (2 December 1909 – 4 October 1985) was a sociologist and economist, who made important contributions to the sociology of knowledge, the sociology of religion, and the history of economic thought. was born in Marienbad, Austrian Empire (now in the Czech Republic), to parents of Jewish origin. His father, Ad...
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Werner Stark He became interested in the economic writings of the philosopher Jeremy Bentham, and submitted three essays on the subject to John Maynard Keynes, editor of the "Economic Journal": Keynes was impressed, and encouraged Stark to work further on the subject, and to produce an edition of Bentham's economic wri...
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Werner Stark As he saw it, excessive individualism lay at the root of Christianity's contemporary crisis. He believed that modern intellectuals had been strongly affected by post-Renaissance rationalism, resulting in "a super-rationalism which tends to blind them towards many non-rational values, for instance, those of...
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Risk Governance: Coping with Uncertainty in a Complex World is part of "The Earthscan Risk in Society Series" of books. Published in 2008, the book brings together and updates the well-known work of risk theorist and researcher Ortwin Renn, integrating concepts of risk in the social, engineering and natural sciences. "...
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Balanced-growth equilibrium In macroeconomics, the balanced-growth path of a dynamic model is a trajectory such that all variables grow at a constant rate. In the standard exogenous growth model, balanced growth is a basic assumption, while other variables like the capital stock, real GDP, and output per worker are gro...
https://en.wikipedia.org/wiki?curid=18485361
Adam Smith Prize The are two prizes for best performance in the Part IIB Economics Tripos examinations and dissertation at the University of Cambridge, Cambridge, England. Previously the prize, established in 1891 and named after Adam Smith, was awarded triennially for best submitted essay on a subject of the writer's ...
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Taxation as theft The position that taxation is theft, and therefore immoral, is a viewpoint found in a number of radical political philosophies. It marks a significant departure from conservatism and classical liberalism. This position is often held by anarcho-capitalists, objectivists, most minarchists, right-wing li...
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Taxation as theft In the fifth century AD, Augustine of Hippo, who was a proponent of just taxation, described kingdoms as robbers, citing Alexander the Great having faced a similar argument seven centuries earlier: In the 17th century, John Locke takes the position in "Second Treatise of Government" that government au...
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Taxation as theft In it he stated that a supposed social contract cannot be used to justify governmental actions such as taxation, because government will initiate force against anyone who does not wish to enter into such a contract.No open, avowed, or responsible association, or body of men, can say this to him; becau...
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Taxation as theft Murray Rothbard argued in "The Ethics of Liberty" in 1982 that taxation is theft and that tax resistance is therefore legitimate: "Just as no one is morally required to answer a robber truthfully when he asks if there are any valuables in one's house, so no one can be morally required to answer truthf...
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Taxation as theft the emphasis on distributing the tax burden relative to pretax income is a fundamental mistake. Taxation does not take from people what they already own. Property rights are the product of a set of laws and conventions, of which the tax system forms a central part, so the fairness of taxes can’t be ev...
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An Introduction to Sustainable Development is a 2007 Earthscan book which presents sustainable development as a process that "meets the needs of the present generation without compromising the ability of future generations to meet their own needs". This textbook examines the environmental, economic, and social dimensio...
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Fama–French three-factor model In asset pricing and portfolio management the is a model designed by Eugene Fama and Kenneth French to describe stock returns. Fama and French were professors at the University of Chicago Booth School of Business, where Fama still resides. In 2013, Fama shared the Nobel Memorial Prize in ...
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Fama–French three-factor model "SMB" stands for "Small [market capitalization] Minus Big" and "HML" for "High [book-to-market ratio] Minus Low"; they measure the historic excess returns of small caps over big caps and of value stocks over growth stocks. These factors are calculated with combinations of portfolios compo...
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Fama–French three-factor model Therefore, updated risk factors are available for other stock markets in the world, including the United Kingdom, Germany and Switzerland. Eugene Fama and Kenneth French also analysed models with local and global risk factors for four developed market regions (North America, Europe, Japan...
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Fama–French three-factor model In the US (1963-2013), adding these two factors makes the HML factors redundant since the time series of HML returns are completely explained by the other four factors (most notably CMA which has a -0.7 correlation with HML). Whilst the model still fails the Gibbons, Ross & Shanken (1989)...
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Selling Solar Selling Solar: The Diffusion of Renewable Energy in Emerging Markets is a 2009 Earthscan book by Damian Miller. Dr Miller argues that, in order to solve the climate crisis, the world must immediately and dramatically accelerate the commercialization of renewable energy technology. This needs to happen in ...
https://en.wikipedia.org/wiki?curid=18509341
Schedule TO is a required filing form of the United States Securities and Exchange Commission. Under the United States federal Securities Exchange Act of 1934, parties who will own more than five percent of a class of a company's securities after making a tender offer for securities registered under the Act must file a...
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Sudden stop (economics) A sudden stop in capital flows is defined as a sudden slowdown in private capital inflows into emerging market economies, and a corresponding sharp reversal from large current account deficits into smaller deficits or small surpluses. Sudden stops are usually followed by a sharp decrease in outp...
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Sudden stop (economics) Since tradable and non-tradable goods are complements, this also reduces demand for non-tradable goods. The demand for tradable goods reflects in a reduction in imports; however, the lower demand for non-tradable goods translates into lower output and real depreciation of the currency (lower rel...
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Sudden stop (economics) A similar argument relates large changes in relative prices of tradable and non-tradable goods with the effects of a sudden stop. The mechanism is explained by a credit based approach to currency crises, where countries with less developed financial markets experience a sharper output fall durin...
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Sudden stop (economics) Even in situations where banks might be solvent, in the short run bank runs create an illiquidity problem, where banks would need to borrow funds to meet the temporary deposit withdrawals. However, under this situation, it might be harder to obtain foreign funds, as foreign creditors may also pa...
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Sudden stop (economics) The results show that including permanent technology shocks is able to produce the behavior observed during a sudden stop episode. The model predicts a large contraction in output, consumption and investment, as well as a sharp current account reversal. Empirical studies mention a group of indic...
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Sudden stop (economics) Sudden stops can be accompanied by a currency crisis and/or a banking crisis. Empirical studies show that the effects of a banking crisis are more pernicious than the effects of a currency crisis, due to the additional effect of the credit channel on output. Lower asset prices are a persistent f...
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Sudden stop (economics) The less-than-one relationship could be related to an effective use of international reserves to offset capital outflows during sudden stops, while during current account reversals, there are some countries that were not receiving large capital inflows, so their deficits were financed through a ...
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Sudden stop (economics) A sharp loss of international reserves is also observed during sudden stop episodes, both in developed countries and emerging markets. The current account balance shows a sharp reduction in current account deficits, with a significantly higher increase in the current account balance in emerging ...
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Public economics (or economics of the public sector) is the study of government policy through the lens of economic efficiency and equity. builds on the theory of welfare economics and is ultimately used as a tool to improve social welfare. provides a framework for thinking about whether or not the government should pa...
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Public economics Mirrlees published a seminal paper which showed that even when lump-sum taxation is not available, production efficiency is still desirable. This finding is known as the Diamond–Mirrlees efficiency theorem, and it is widely credited with having modernized Ramsey's analysis by considering the problem of...
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Public economics In particular, Pigou is known for his advocacy of what are known as corrective taxes, or Pigouvian taxes: It is plain that divergences between private and social net product of the kinds we have so far been considering cannot, like divergences due to tenancy laws, be mitigated by a modification of the ...
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Public economics Alternatively, he describes negative externalities, such as the factory that destroys a great part of the amenities of neighboring sites. In 1960, the economist Ronald H. Coase proposed an alternative scheme whereby negative externalities are dealt with through the appropriate assignment of property ri...
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Public economics Federal Interagency River Basin Committee's Subcommittee on Benefits and Costs published a report entitled, "Proposed Practices for Economic Analysis of River Basin Projects" (also known as the "Green Book"), which became noteworthy for bringing in the language of welfare economics. In 1958, Otto Eckst...
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Citizen enterprise The term citizen enterprise started to be used in the United States in 2008 to describe businesses that practice corporate social responsibility (CSR). In some countries, such as Papua New Guinea, the term is used to describe companies owned by citizens of that country, rather than by foreigners. It ...
https://en.wikipedia.org/wiki?curid=18551130
Gossen's laws Gossen's laws, named for Hermann Heinrich Gossen (1810–1858), are three laws of economics:
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The Oil Drum "The Oil Drum" was rated one of the top five sustainability blogs of 2007 by Nielsen Netratings, and was read by a diverse collection of public figures, including Roscoe Bartlett, Paul Krugman, James Howard Kunstler, Richard Rainwater, and Radiohead. In 2008, the site received the M. King Hubbert Award for...
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Gossen's second law Gossen's Second “Law”, named for Hermann Heinrich Gossen (1810–1858), is the assertion that an economic agent will allocate his or her expenditures such that the ratio of the marginal utility of each good or service to its price (the marginal expenditure necessary for its acquisition) is equal to th...
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Gossen's second law An agent then optimizes subject to a budget constraint where Using the method of Lagrange multipliers, one constructs the function and finds the first-order conditions for optimization as (which simply implies that all of formula_10 will be spent) and so that which is algebraically equivalent to Sin...
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Erwin Plein Nemmers Prize in Economics The is awarded biennially from Northwestern University. It was initially endowed along with a companion prize, the Frederic Esser Nemmers Prize in Mathematics. Both are part a $14 million donation from the Nemmers brothers, who envisioned creating an award that would be as prestig...
https://en.wikipedia.org/wiki?curid=18563487
Mid price In financial markets, the mid-price is the price between the best price of the sellers of the stock or commodity offer price or ask price and the best price of the buyers of the stock or commodity bid price. It can simply be defined as the average of the current bid and ask prices being quoted. In some cases,...
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List of Austrian School economists This is a list of notable economists aligned with the Austrian School who are sometimes colloquially called "the Austrians". This designation applies even though few hold Austrian citizenship; moreover, not all economists from Austria subscribe to the ideas of the Austrian School.
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Waithood (a portmanteau of "wait" and "adulthood") is a period of stagnation in the lives of young unemployed college graduates in various industrializing and developing nations or regions, primarily in the Middle East, North Africa (MENA) and India, where their expertise is still not widely needed or applicable. "Wait...
https://en.wikipedia.org/wiki?curid=18585354
Long-Term Capital Holdings v. United States Long Term Capital Holdings v. United States, 330 F. Supp. 2d 122 (D. Conn. 2004), was a court case argued before the United States District Court for the District of Connecticut that concerned a tax shelter used by Long-Term Capital Management, a failed hedge fund. The tax sh...
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Economic substance is a doctrine in the tax law of the United States under which a transaction must have both a substantial purpose aside from reduction of tax liability and an economic effect aside from the tax effect in order to be considered valid. This doctrine is used by the Internal Revenue Service to determine w...
https://en.wikipedia.org/wiki?curid=18614602
Polynomial conjoint measurement is an extension of the theory of conjoint measurement to three or more attributes. It was initially developed by the mathematical psychologists David Krantz (1968) and Amos Tversky (1967). The theory was given a comprehensive mathematical exposition in the first volume of "Foundations of...
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Polynomial conjoint measurement The set formula_2 is the smallest set of simple polynomials such that: Informally, the schema argues: a) single attributes are simple polynomials; b) if "G" and "G" are simple polynomials that are disjoint (i.e. have no attributes in common), then "G" + "G" and "G" formula_10 "G" are sim...
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Polynomial conjoint measurement formula_51, formula_52, formula_53 and formula_54 implies formula_55 is true for all formula_56 and formula_57. The quadruple formula_19 falls into one class of three variable simple polynomials by virtue of the joint single cancellation axiom.
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General line of merchandise or general merchandise is a term used in retail and wholesale business in reference to merchandise not limited to some particular category. General merchandise stores (general stores) address this sector of retail. According to the North American Industry Classification System 2002, the foll...
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Escape from Affluenza is a 1998 PBS 56-minute documentary film produced as a sequel to the 1997 documentary "Affluenza". While the original concentrates on affluenza--consumerism and materialism in modern society, the sequel focuses on how to avoid this. It looks at stories of how to reduce debt, stress, time-pressure,...
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Official statistics are statistics published by government agencies or other public bodies such as international organizations as a public good. They provide quantitative or qualitative information on all major areas of citizens' lives, such as economic and social development, living conditions, health, education, and ...
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Official statistics provide a picture of a country or different phenomena through data, and images such as graph and maps. Statistical information covers different subject areas (economic, demographic, social etc.). It provides basic information for decision making, evaluations and assessments at different levels. The ...
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Official statistics For population, the main indicators are: The gender statistics include: In the employment category: There are many indicators for the economy: For trade indicators we find: Environment indicators: For the energy field: are intended for a wide range of users including governments (central and local),...
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Official statistics Users with a research interest are universities, consultants and government agencies. They generally understand something about statistical methodology and want to dig deeper into the facts and the statistical observations; they have an analytical purpose in inventing or explaining interrelations of...
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Official statistics These organisations are responsible for producing and disseminating official statistical information, providing the highest quality data. Quality in the context of official statistics is a multi-faceted concept, consisting of components such as relevance, completeness, timeliness, accuracy, accessib...
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Official statistics In order to understand the accuracy of economic data and the possible impact of data errors on macroeconomic decision-making, the Federal Reserve Bank of Philadelphia has published a dataset that records both initial real-time data estimates, and subsequent data revisions, for a large number of macr...
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Official statistics Data are usually collected through questionnaires mailed to respondents, via the Internet, or completed by an enumerator visiting respondents, or contacting them by telephone. In 2005, the United Nations Economic and Social Council adopted a resolution urging: "Member States to carry out a populatio...
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Official statistics →Statistical registers are frequently based on combined data from different administrative registers or other data sources. →For businesses, it is often legally indispensable to be registered in their country to a business register which is a system that makes business information collection easier....
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Official statistics On the other hand, newspapers and specialized economic and social magazines can provide more detailed coverage of statistical releases as the information on a specific theme can be quite extensive. provides us with important information on the situation and the development trends in our society. Use...
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Official statistics Therefore, not every figure reported by a public body should be considered as official statistics, but those produced and disseminated according to the principles. Adherence to these principles will enhance the credibility of the NSO and other official statistical producers and build public trust in...
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Official statistics In order to maximize dissemination, statistics should be presented in a way that facilitates proper interpretation and meaningful comparisons. To reach the general public and non-expert users when disseminating, NSOs have to add explanatory comments to explain the significance of the results release...
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Official statistics Also, statistical producers should warn users of certain interpretations and false conclusions even if they try to be as precise as possible. Furthermore, the quality of the accurate and timely results must be assessed prior to release. But if errors in the results occur before or after the data rev...
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Official statistics Moreover, the overall structure, including concepts and definitions, should follow internationally accepted standards, guidelines or good practices. International recommendations and standards for statistical methods approved by many countries provide them with a common basis like the two standards ...
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Welch v. Helvering Welch v. Helvering, 290 U.S. 111 (1933), was a decision by the United States Supreme Court on the difference between business and personal expenses and the difference between ordinary business deductions and capital expenses. It is one of the most important income tax law cases. Thomas Welch and his ...
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Welch v. Helvering Although the case was eventually decided on other grounds, the idea that the expenses should have increased the basis of the business as capital expenses, with no immediate deduction but the potential for depreciation losses over time may also have influenced the court.
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Middle East Youth Initiative The is a program at the Wolfensohn Center for Development, housed in the Global Economy and Development program at the Brookings Institution. It was launched in July 2006 as a joint effort between the Wolfensohn Center and the Dubai School of Government. The Initiative performs vigorous res...
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Trade costs and facilitation Trade Costs & Facilitation: The Development Dimension is an ongoing research project on trade facilitation reform carried out by the Development Economics Research Group of the World Bank. The project is focused on expanding knowledge about the relationships between trade costs and private ...
https://en.wikipedia.org/wiki?curid=18682147
The Gene Revolution The Gene Revolution: GM Crops and Unequal Development is a 2006 book by Professor Sakiko Fukuda-Parr. While some people do not support genetic manipulation (GM), others view it as an important technological solution to limited agricultural output, increasing populations, and climate change. The book...
https://en.wikipedia.org/wiki?curid=18689198
FTSE Global Equity Index Series The was launched in September 2003, and provides coverage of some 8,000 stocks in 48 countries. The family includes the FTSE SmallCap Index and broader FTSE Global All Cap Indices (large/mid/small cap) as well as the FTSE All-World Index Series (large/mid cap).
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Customer lifecycle management or CLM is the measurement of multiple customer-related metrics, which, when analyzed for a period of time, indicate performance of a business. The overall scope of the CLM implementation process encompasses all domains or departments of an organization, which generally brings all sources o...
https://en.wikipedia.org/wiki?curid=18707917
Acceptable loss An acceptable loss, also known as acceptable damage, is a military euphemism used to indicate casualties or destruction inflicted by the enemy that is considered minor or tolerable. In combat situations, leaders have to often choose between options where no one solution is perfect and all choices will l...
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Erkin Bairam (1958 - 21 May 2001) was a Cypriot-born economist who taught in the Department of Economics at the University of Otago, New Zealand. Born in Nicosia, Cyprus, Bairam studied at the University of Essex in Colchester, England, where he gained a BA (Hons) in Economics in 1980. He left Essex for the University ...
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Erkin Bairam He published an article on this topic in the "Journal of Economic Literature".
https://en.wikipedia.org/wiki?curid=18725957
Additionality is the property of an activity being additional. It is a determination of whether an intervention has an effect, when the intervention is compared to a baseline. 'Interventions' can take a variety of forms, but often include economic incentives. For an example of the application of additionality in enviro...
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Additionality The extent to which an activity (and associated outputs, outcomes and impacts) is larger in scale, at a higher quality, takes place more quickly, takes place at a different location, or takes place at all as a result of intervention. measures the net result, taking account of deadweight, leakage, displace...
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Common Wealth: Economics for a Crowded Planet is a 2008 New York Times bestseller book by economist Jeffrey Sachs. Sachs began promoting electric vehicles (PHEVs) in this book. In this book, Sachs states that the world of economics does not depend on the law of market-determined supply and demand.
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T-model In finance, the is a formula that states the returns earned by holders of a company's stock in terms of accounting variables obtainable from its financial statements. The connects fundamentals with investment return, allowing an analyst to make projections of financial performance and turn those projections int...
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T-model Note that all "fundamental valuation methods" differ from economic models such as the capital asset pricing model and its various descendants; fundamental models attempt to forecast return from a company's expected future financial performance, whereas CAPM-type models regard expected return as the sum of a ris...
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T-model Assume that the company buys or sells shares in accordance with its "XCF", and that a shareholder sells or buys enough shares to maintain her proportionate holding of the company's stock. Then the portion of total return due to distributions can be written as formula_11. Since formula_12 and formula_13 this sim...
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T-model In practice, when used as a practical forecasting tool it may be preferable to the standard T-model, because the specific accounting items used as input values are generally more robust (that is, less susceptible to variation due to differences in accounting methods), hence possibly easier to estimate. Some fam...
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T-model If "PB" is constant, the familiar price–earnings ratio can be written as: formula_32 From this relationship we recognize immediately that "P–E" cannot be related to growth by a simple rule of thumb such as the so-called "PEG ratio" formula_33; it also depends on "ROE" and the required return, "T". The is also c...
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Pink tide The pink tide (, ), or turn to the left (, ), is the revolutionary wave and perception of a turn towards left-wing governments in Latin American democracies straying away from the neoliberal economic model. As a term, both phrases are used in contemporary 21st-century political analysis in the media and elsew...
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Pink tide These included the 1954 Guatemalan coup d'état, 1964 Brazilian coup d'état, 1973 Chilean coup d'état and 1976 Argentine coup d'état, among others. All of these coups were followed by United States-backed and sponsored right-wing military dictatorships as part of the United States government's Operation Condor...
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Pink tide Following the third wave of democratization in the 1980s, the institutionalization of electoral competition in Latin America opened up the possibility for the left to ascend to power. For much of the region's history, formal electoral contestation excluded leftist movements, first through limited suffrage and...
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Pink tide According to Cristina Fernández de Kirchner, a pink tide president herself, Chávez of Venezuela (inaugurated 1999), Luiz Inácio Lula da Silva of Brazil (inaugurated 2003) and Evo Morales of Bolivia (inaugurated 2006) were "the three musketeers" of the left in South America. National policies among the left in...
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Pink tide As the prices of commodities lowered into the 2010s, coupled with overspending with little savings by pink tide governments, policies became unsustainable and supporters became disenchanted, eventually leading to the rejection of leftist governments. Analysts state that such unsustainable policies were more a...
https://en.wikipedia.org/wiki?curid=18776573
Pink tide By 2016, the decline of the pink tide saw an emergence of a "new right" in Latin America, with "The New York Times" stating "Latin America's leftist ramparts appear to be crumbling because of widespread corruption, a slowdown in China's economy and poor economic choices", with the newspaper elaborating that l...
https://en.wikipedia.org/wiki?curid=18776573
Pink tide On 9 June 2019, The Intercept released a trove of documents that showed Judge Sergio Moro acted politically in his ruling. Jair Bolsonaro later appointed him The Minister of Justice and Public Security. In December 2017, Ecuadorian Vice President Jorge Glas was removed from office and sentenced to six years i...
https://en.wikipedia.org/wiki?curid=18776573