Taler

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Taler

 

(also thaler), a silver coin first minted in 1518, in Joachimsthal, Bohemia (present-day Jáchymov, Czechoslovakia), whence, therefore, its name—Joachimst(h)aler or simply taler. Beginning in 1555 the taler was adopted as a monetary unit throughout the Holy Roman Empire; it was later used also in Poland, Sweden, France, and Turkey. Originally, the taler contained 28–29 g—sometimes more than 30 g—of pure silver. In 1857, however, its silver content was fixed at 16.67 g in northern Germany and Austria. After the monetary reform of 1871–73 in Germany, the minting of taler coins, now equal to three gold marks each, was discontinued. When it was resumed, in 1908, the taler was given a face value of three marks.

The name “taler” was variously adopted in several countries to designate coins of large denominations containing approximately one ounce (27–30 g) of silver—for example, tallero in Italy, daalder in the Netherlands, datero in Spain, and dollar in English-speaking as well as other countries. In the mid-17th century, the Moscow treasury minted silver coins from the imported Joachimsthalers (seeEFIMOK).

References in periodicals archive ?
Yet Thaler is not of the famed "Chicago School," which thinks the mistakes people make when buying milk or talking to their stock brokers are not all that important for how and why markets and trade work.
Thaler became the 27th current or past NBER research affiliate to receive the Nobel Prize:
Thaler was awarded the 2017 Nobel Prize in Economic Sciences for his contributions towards linking the economic and psychological analysis of individual decision-making.
Of course, not all economists, or even a majority, are wedded to this view, as evidenced by the fact that both Thaler and I have been elected president, in successive years, of the American Economic Association, the main professional body for economists in the United States.
Works such as those of Kahneman and Thaler should inform the writing of Pakistan's economic history.
In 2006, Congress tweaked the law to encourage employers to enroll employees in retirement savings plans unless they specifically opted out, just as Thaler recommended.
But Thaler et al were only scratching the surface of our irrationality.
The Nobel committee said as a pioneer in behavioral economics, Thaler has built a bridge between economics and psychology to show a "more realistic analysis of how people think and behave when making economic decisions.
Thaler brought to prominence the idea of "nudge" economics, where humans are subtly guided toward beneficial behaviours without heavy-handed compulsion, the theme of a 2008 book he co-wrote which caught the eye of policymakers around the world.
The book is divided into eight sections that follow the progression of economic thought towards the new behavioral theories, and along the way Thaler offers entertaining practical examples to illustrate his points on such topics as mental accounting, self-control, will power, and framing in decision-making.
Thaler is widely known as the "father of behavioral finance" and actually was instrumental in Michael Lewis' writing of "The Undoing Project," which is about Kahneman and Tversky's psychological impact on the world.
The region has experienced an extremely wet winter and this has fueled Nevadas wildfire season to an early start, with vast amounts of vegetation, said Carrie Thaler, Incident Commander.