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"Given the scale of transactions from time to time errors will be made for which we apologise unreservedly".
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But something new is happening that is making "tiny" beautiful in a way Schumacher may not have envisioned: the scale of tiny transactions proliferating on the internet.
The scale of the transaction is therefore anything but minor.
The new, legal notes were not printed on time; they were an order of magnitude larger than the scale of everyday financial transactions for a large percentage of Indians; and productivity plummeted as individuals waited hours in queues just to remonetize their now-worthless savings.
The case for contracting, he argues, has to take in the full scale of transaction costs (preparing bids, for example) and wider social costs (paying staff minimum wage may deepen poverty).
In the world of football administration, with its sliding scale of transactions from a friendly gesture to an outright bribe, the distance in the mind from give and go to give and get might not be so very far.
Today, it's primarily used for securing transactions of cryptocurrencies like Bitcoin at the scale of hundreds of thousands of daily transactions.
For bitcoin to verify transactions on the scale of Visa or Mastercard systems today would require supercomputers and "communication volumes [that] could bring the internet to a halt," BIS observed.
Telefonaktiebolaget LM Ericsson, the Swedish telecommunications equipment giant repeatedly rumored to be interested in buying Juniper, on Monday dampened that speculation when chief executive Carl-Henric Svanberg said he was "not particularly interested" in a major transaction on the scale of Alcatel's $13.4 billion bid to buy Lucent Technologies Inc. Go to Article from The Daily Deal ».
The scale of the upheaval will depend on whether transactions denominated in euros can continue to take place through clearing houses in London.
The scale of the run on Kaupthing Edge deposits had been such that many transactions were not completed until 17 October.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com