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Kenneth Boulding

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[In order to define the distinction between a grant and an exchange transaction, Boulding has used the net worth criterion] If there is no decrease in the net worth of either party, the transaction is exchange; if there is, it contains some grant element and is an explicit or implicit grant.
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p.88 as cited in: Omicron Delta Epsilon, Omicron Chi Epsilon (1997) The American economist. Vol. 41-42. p.20

 
Kenneth Boulding

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