The złoty is the official currency and legal tender of Poland. It is subdivided into 100 groszy; the recognised English form of the currency is the Polish zloty. It ranks 22nd in the foreign exchange market; the word złoty is a masculine form of the Polish adjective'golden', which relates with its name to the Dutch guilder, whereas the grosz subunit was based on Austrian groschen. It was introduced to replace its predecessor, the Polish marka, on 28 February 1919 and began circulation in 1924; the only body permitted to manufacture or mint złoty coins is Mennica Polska, founded in Warsaw on 10 February 1766. As a result of inflation in the early 1990s, the currency underwent redenomination. Thus, on 1 January 1995, 10,000 old złotych became one new złoty. Since the currency has been stable, with an exchange rate fluctuating between 3 and 4 złoty for a United States dollar. Though Poland is a member of the European Union, nearly 60% of Poles are against adopting the euro as a new currency; the predecessors of the złoty were the kopa.
The grzywna was a currency, equivalent to 210 g of silver, in the 11th century. It was in use until sometime in the 14th century. At the same time, first as a complement to the grzywna, as the main currency, came the grosz and the kopa. Poland made the grosz as an imitation of the Prague groschen. A grzywna was worth 48 groszy; the złoty is a traditional Polish currency unit dating back to the late Middle Ages. In the 14th and 15th centuries, the name was used for all kinds of foreign gold coins used in Poland, most notably Venetian and Hungarian ducats. One złoty at the beginning of their introduction cost 12–14 groszy. In 1496 the Sejm approved the creation of a national currency, the złoty, its value was set at 30 groszy, a coin minted since 1347 and modelled on the Prague groschen, a ducat, whose value was 1 1⁄2 złoty; the 1:30 proportion stayed, but the grosz became cheaper and cheaper, because the proportion of silver in the coin alloy diminished over time. In the beginning of the 16th century, 1 złoty was worth 32 groszy.
The name złoty was used for a number of different coins, including the 30-groszy coin called the polski złoty, the czerwony złoty and the złoty reński, which were in circulation at the time. However, the value of the Polish złoty dropped over time relative to these foreign coins, it became a silver coin, with the foreign ducats circulating at 5 złotych; the matters were complicated by the intricate system of coins, with denominations as low as 1⁄3 groszy and as high as 12,960 groszy fit into one coin. There were no usual decimal denominations we use today: the system used 4, 6, 8, 9 and 18 groszy, which are now most uncommon. Moreover, there was no central mint, apart from Warsaw mint, there were the Gdańsk, Elbląg and Kurland separate mints which did not produce the same denomination coins with the same materials. For example, the szeląg had 1.3g of copper while minted in either Kraków or Warsaw, but the local Gdańsk and Elbląg mints made it using only 0.63g of copper. This wrought havoc in the Polish monetary system.
Following the monetary reform carried out by King Stanisław II Augustus which aimed to simplify the system, the złoty became Poland's official currency and the exchange rate of 1 złoty to 30 copper groszy was confirmed. The king established the system, based on the Cologne mark; each mark was divided into 10 Conventionsthaler of the Holy Roman Empire, 1 thaler was worth 8 złotych. The system was in place until 1787. Two devaluations of the currency occurred in the years before the final partition of Poland. After the third partition of Poland, the name złoty existed only in Russian lands. Prussia had introduced the mark instead. On 8 June 1794 the decision of the Polish Supreme Council offered to make the new banknotes as well as the coins. 13 August 1794 was the date. At the day there was more than 6.65 million złotych given out by the rebels. There were banknotes with the denomination of 5, 10, 25, 50, 100, 500 and 1,000 złotych, as well as 5 and 10 groszy, 1 and 4 złoty coins However, it did not last for long: on 8 November, Warsaw was held by Russia.
Russians declared them invalid. Russian coins and banknotes replaced the Kościuszko banknotes, but the division on złote and grosze stayed; this can be explained by the fact the Polish monetary system in the deep crisis, was better than the Russian stable one, as Poland used the silver standard for coins. That is why Mikhail Speransky offered to come to silver monometalism in his work План финансов in Russia, he argued that: "... at the same time... forbid any other account in Livonia and Poland, this is the only way to unify the financial system of th
This is a global list of largest technology companies by revenue, according to the Fortune Global 500. It shows companies identified by Fortune as being in the technology sector, ranked by total annual revenue. Other metrics not shown here, in particular market capitalization, are used alternatively to define the size of a company; the list includes companies whose primary business activities are associated with technology industry which includes computer hardware, electronics, internet, telecom equipment, e-commerce and computer services. Note: This list shows only companies with annual revenues exceeding US$50 billion. Companies are ranked by total revenues for their respective fiscal years ended on or before March 31, 2019. All data in the table is taken from the Fortune Global 500 list of technology sector companies for 2019 unless otherwise specified; as of 2019, Fortune lists Amazon in the retailing sector rather than the technology sector. Ranked by total revenues for respective fiscal years ended on or before March 31, 2018.
List of largest Internet companies List of the largest software companies − Fortune Global 500
Spencer Heath McCallum known as Spencer MacCallum, is an American anthropologist, business consultant and author. He is noted for his discovery of the pottery of the town of Mata Ortiz, Mexico. MacCallum graduated from Princeton University with a Bachelors in art history and received a Masters of Arts in social anthropology from the University of Washington, he specialized in studying the life and stateless society of Northwest Coast Indians. MacCallum is the grandson of Spencer Heath and dissenter from mainstream Georgism. In 1956, MacCallum and his grandfather founded the Science of Society Foundation, which published a number of works including Heath's book Citadel and Altar. MacCallum was for many years an active lecturer for academic and business clients, he remains a Research Fellow at the Independent Institute. MacCallum shared his grandfather's interest in multi-tenant properties where developers lease properties and are responsible for providing community services, thereby replacing the functions traditionally provided by the state.
He details these ideas in his 1970 booklet The Art of Community, as well as his 2003 articles "The Enterprise of Community: Market Competition and Environment" and "Looking Back and Forward". In 2005, MacCallum edited and published The Law of the Somalis by Michael van Notten; the book deals with the foundations of the Somali customary law. Through his grandfather, MacCallum met alternative currency theorist E. C. Riegel. After Riegel's death, MacCallum obtained all Riegel's papers, which now reside with the Heather Foundation, of which MacCallum is director. During the 1970s MacCallum re-published Riegel's books "The New Approach to Freedom" and "Private Enterprise Money" and collected his papers into a new book called Flight from Inflation: The Monetary Alternative. In 1976, MacCallum discovered artisan Juan Quezada, who soon became the leader of the now-thriving pottery movement located in Mata Ortiz, a small town near the ancient Paquime ruins in the Mexican state of Chihuahua. McCallum is the author of many articles on Mata Ortiz, as well as introduction to the book, Portraits of Clay: Potters of Mata Ortiz.
His efforts helped the pottery win acceptance as a legitimate folk art. MacCallum lives in nearby Casas Grandes, still plays a key role in Mata Ortiz affairs. Additionally, MacCallum has assisted archaeological investigations in the region by providing a compound to serve as quarters and lab space. Spencer H. MacCallum: "E. C. Riegel on Money", January 2008. Spencer H. Macallum: "Suburban Democracy vs. Residential Community". Critical Review, Vol 17, Nos. 3–4, 2006. Michael van Notten, Spencer Heath MacCallum: The Law of the Somalis, Red Sea Press, 2005. Spencer MacCallum: "From Upstate New York to the Horn of Africa", Liberty Magazine, May 2005, Volume 19, Number 5. Spencer H. MacCallum: "The Enterprise of Community: Market Competition and Environment", Journal of Libertarian Studies, Volume 17, no. 4, Fall 2003, 1–16, published by Ludwig von Mises Institute, Slightly amended by the author, June 2004. Spencer MacCallum: "Looking Back and Forward", Lewrockwell.com, December 19, 2003. Rigoberto Stewart: Limon Real: A Free and Autonomous Region, Spencer MacCallum, English translator, 2002 Spencer MacCallum: The Quickening of Social Evolution:Perspectives on Proprietary Communities, Independent Institute, The Independent Review, v.
II, n.2, Fall 1997, 287–302.. Spencer Heath MacCallum, Jan Bell, Scott H. Ryerson, Michael A. Williams: "The Pottery and Potters of Mata Ortiz, Kiva," Volume 60, Number 1, Arizona Archeological & Historical Soc. 1994. Spencer H. MacCallum, editor: E. C. Riegel, Flight from Inflation: The Monetary Alternative, San Pedro, CA, The Heather Foundation, 1979. Spencer Heath MacCallum: The Art of Community, Institute for Humane Studies, 1970. Spencer Heath MacCallum: "The Social Nature of Ownership," Modern Age. Spencer Heath E. C. Riegel Mata Ortiz Proprietary community Heathian anarchism Mata Ortiz Calendar maintained by Spencer and Emalie MacCallum. Links to photos of Mata Ortiz pottery, exhibits, etc