hedon

From hedonism, ultimately from Ancient Greek ἡδονή (hēdonḗ, “pleasure”).

der

Supposedly, utilitarians are able to add and subtract hedons (units of pleasure) and dolors (units of pain) without any signs of cognitive or affective distress[…]

1986, Rosemarie Tong, Ethics in policy analysis, →ISBN:

(economics) A unit of pleasure used to theoretically weigh people's happiness.


Solovian

en-adj

Solovian (comparative more Solovian, superlative most Solovian)

more Solovian (comparative)
most Solovian (superlative)
Solowian (alternative)

(economics) Of or pertaining to the economist Robert Solow.

(economics) In particular, of or pertaining to the Solow growth model.


bondlike

bondlike (comparative more bondlike, superlative most bondlike)

more bondlike (comparative)
most bondlike (superlative)
bond-like (alternative)

(chemistry, economics) Resembling or characteristic of a bond.


flypaper theory

(economics) The idea that the burdens of taxation "stick" to those taxed directly instead of spreading through the economy.


currency war

(economics) The competition between countries in order to achieve a relatively low exchange rate for their home currencies, so as to assist their domestic industry.

匯率戰 /汇率战

competition between countries to achieve a relatively low exchange rate


Georgism

From George + -ism; from the writings of American economist Henry George (1839–1897).

An economic philosophy stating that things found in nature, most importantly land, belong equally to all. It is usually associated with the idea of a single tax on the value of land.


Hayekian

Except to Hayekian fanatics, it seems obvious that the coordinated global stimulus of 2009 stopped the slide into another Great Depression.

2011, Robert Skidelsky, The Keynes-Hayek Rematch:

(economics) Of or pertaining to the economic theories of Friedrich Hayek.

hayekiano

of or pertaining to the economic theories of Friedrich Hayek


Hayekian

(economics) A proponent of the economic theories of Friedrich Hayek.

hayekiano

a proponent of the economic theories of Friedrich Hayek


financialization

/fʌɪˌnanʃl̩ʌɪˈzeɪʃn̩/

Such growth would be fine if financialization really delivered on its promises—if financial firms made money by directing capital to its most productive uses, by developing innovative ways to spread and reduce risk.

2009 July 17, Paul Krugman, “The Joy of Sachs”, in New York Times:

This book is a contribution to efforts to retheorize financialization, a term which refers to the increased power of the financial sector in the economy, in politics, in social life and in culture writ large.

2014, M. Haiven, Cultures of Financialization: Fictitious Capital in Popular Culture and Everyday Life, Springer, →ISBN, page 1:

First, it is necessary to be explicit about what I am not asserting: specifically, that financialization represents an entirely novel phase of capitalism.

2014, J. Timmons Roberts, Amy Bellone Hite, Nitsan Chorev, The Globalization and Development Reader: Perspectives on Development and Global Change, John Wiley & Sons, →ISBN, page 294:

The primary complaint leveled against the financialization of economies is that much of this activity is geared towards rent seeking.

2015, Martin Ford, The Rise of the Robots, Oneworld Publications:

The most widely cited definition of the term ‘financialization’ is probably that given by Epstein (2005) in his introduction to his edited book Financialization and the World Economy: ‘here we will cast the net widely and define financialization quite broadly: for us, financialization means the increasing role of financial motives, financial markets, financial actors, and financial institutions in the operation of the domestic and international economies’ (p. 3).

2015, Sebastiano Fadda, Pasquale Tridico, The Economic Crisis in Social and Institutional Context: Theories, Policies and Exit Strategies, Routledge, →ISBN:

In other words, financialisation means more and bigger financial institutions—from banks, to hedge funds, to pension funds—wielding a much greater influence over other economic actors—from consumers, to businesses, to the state. The growth of finance has led to the emergence of a new economic model—financialisation represents a deep, structural change in how the economy works.

In recent decades, America has experienced the financialization of its economy. In 1980, Congress repealed regulations that had been in place since the 1933 Glass-Steagall Act, allowing banks to merge and charge their customers higher interest rates.

2019 August 14, Matthew Desmond, “In order to understand the brutality of American capitalism, you have to start on the plantation”, in New York Times:

financial instrument
financial instrument

(economics) Conversion of intangible value into financial instruments.

tài chính hoá

conversion of intangible value into financial instruments


tertiarization

(economics) A shift from the primary and secondary sectors to the tertiary sector.


superior good

(economics) A good that makes up a larger proportion of consumption as income rises, having income elasticity greater than one.


normal good

(economics) a good for which demand increases when income increases and falls when income decreases but price remains constant, i.e. with a positive income elasticity of demand.


inferior good

Cheap, low-quality goods (such as canned food) are inferior goods for many people. The more money they have, the less they purchase those goods.

(economics) A good that decreases in demand when consumer income rises; having a negative income elasticity of demand.


Giffen good

Named after Scottish economist Robert Giffen (1837–1910), who was attributed as the author of this idea by Alfred Marshall in his book Principles of Economics.

named-after

To qualify as a Giffen good, a good must be inferior and must have an income effect strong enough to overcome the substitution effect. The example often cited of a possible Giffen good is the potato during the Irish famine of 1845–1849.

2008, Libby Rittenberg, Principles of Microeconomics, Flat World Knowledge, →ISBN, page 182:

Economists no longer believe that potatoes were Giffen goods during the great famine, so the quest for the “exceptional case” has continued. […] Last year the economist Garth Heutel published evidence that theme park rides could be Giffen goods.

2025 May 3, Tim Harford, “Paying more for less”, in FT Weekend, Life & Arts, page 21:

(economics) A postulated inferior good which people consume more of as only the price rises. It has a positive price elasticity of demand.

Giffen good
Principles of Economics (Marshall book)

това́р Ги́ффена

a good with positive price elasticity of demand


-nomics

(economics) Used to form nouns meaning the economics, economic practises, or economic philosophy of a specified person or state


depreciator

Any advantage gained from depreciation is usually temporary because prices in the depreciator's market tend to rise if for no other reason than the increase in international demand for its goods. The reduction in purchasing power of[…]

1961, Charles Lee Prather, Money and Banking:


PIIGS

(economics) Acronym of Portugal, Italy, Ireland, Greece, Spain, grouped on the basis of their high large debts during the European sovereign debt crisis.


PIIIGS

European Union economic planners are chewing their fingernails over looming defaults in Portugal, Ireland, Iceland, Italy, Greece and Spain. PIIIGS are part of an economic block that could paralyze the entire "Planet Money" if the hemorrhage is not dealt with.

2011 October 17, Vic Hummert, “Movie sheds light on Wall Street protests”, in The Advertiser:

PIGS, PIIGS or PIIIGS – They All Smell Like Bacon

2010 April 11, Lorimer Wilson, “Will Sovereign Debt Tsunami Drown All the PIIIGS and Then the US and UK?”, in MunKnee:

The so-called PIIIGS of Europe (Portugal, Italy, Ireland, Iceland, Greece and Spain) are all in the bottom third.

2011, TJ Augustine, A Maasry, D Sobo, Sovereign Fiscal Responsibility Index 2011, Stanford University:

(economics) Portugal, Italy, Ireland, Iceland, Greece and Spain, grouped on the basis of their large debts during the European sovereign debt crisis.


PIIGGS

The so-called contagion of the public debt crisis among the PIIGGS countries (Portugal, Ireland, Italy, Greece, Great Britain and Spain) worries Washington and Tokyo, the deepest in debt non-European governments.

2010, P Deaconu, “The Impact Of The Financial Crisis On The Currency And The Monetary System”, in Annals of Spiru Haret University:

Unlike in 2008, now it is no more just PIGS that drag the EU down. The PIGS club has now expanded, with Ireland first, and ironically, Great Britain next, as the newly qualified members of the PIGS, making it PIIGGS (adding another ‘I', for Ireland and another ‘G', for Great Britain).

2010 May 26, S. Gurumurthy, “Too small is ‘too big' to fail”, in Business Line - The Hindu:

The collective term — with permutations such as PIIGGS to include Ireland and Great Britain among the list of debt-ridden countries — has been denounced by politicians in Portugal and Spain.

2010 August 4, Sebastian Tong, “PIGS, CIVETS and other creature economies…”, in Reuters:

(economics) Portugal, Italy, Ireland, Greece, Great Britain (UK) and Spain, grouped on the basis of their high indebtedness during the European sovereign debt crisis.


BRUK

(economics) Initialism of Belarus, Russia, Ukraine and Kazakhstan.


winner-take-all

winner take all (alternative)
winner-takes-all (alternative)
winner takes all (alternative)
winners take all (alternative)

(economics) Of a market in which a product or service that is only slightly better than its competitors receives a disproportionately large share of revenue.


government spending

All government consumption and investment, excluding transfer payments made by the state.


transfer payment

en-noun

transfer payment (plural transfer payments)

(economics) A redistribution of income in the market system initiated by a government, such as welfare, social security, etc.


bloom is off the rose

"I would say that the bloom is off the rose a little bit, yes," said the senior vice president of video retailing for Lorimar Telepictures, Peter Temple, speaking of the home-shopping phenomenon.

1987 March 11, Peter J. Boyer, “Shop-at-Home Program Fails to Show and Tell”, in New York Times, retrieved 2012-01-08:

"I think that for general advertising, the bloom is off the rose. That is a declining revenue model."

2000 February 14, Margaret Popper, “Venture Capitalist Michael Frank: "The Cost of Playing Poker Has Simply Gone Up"”, in Businessweek, retrieved 2012-01-08:

(idiomatic, business, economics) Business is not going well for a particular identified firm or industry, or the overall economy has taken a downturn.


budget constraint

budget constraint (plural budget constraints)

(economics) The condition that constrains expenditure to income (for a person) or the value of exports to imports (for a state)


antiausterity

Neither he, nor anyone else, had counted on 'Corbynmania' sweeping the Labour ranks as a growing base of young activists got fired up by an antiausterity message and the unassuming, authentic character promoting it.

(economics) Opposing austerity measures.


bezzle

Coined by John Kenneth Galbraith, from embezzle.

(economics) The level or proportion of financial sector activity that consists of hidden embezzlement, varying in step with the business cycle.

That word is bezzle. It describes the period in which an embezzler has stolen a man's money but the victim does not yet realize he's been swindled.

2015 December 3, Tracy Alloway, “There's Been a Bezzle-Fueled Boom in Bonds”, in Markets, Bloomberg News, retrieved 2021-08-16:

Uber is a bezzle ("the magic interval when a confidence trickster knows he has the money he has appropriated but the victim does not yet understand that he has lost it"). Every bezzle ends.

2021 August 10, Cory Doctorow, “End of the Line for Uber”, in Pluralistic, Cory Doctorow, retrieved 2021-08-16:

(economics) The time between when a confidence trickster has stolen money from an unsuspecting person and when that person realizes the money has been stolen.

(economics) The difference between the short-term or current market value of an asset and its true long-term worth.


input-output table

input-output table (plural input-output tables)

A table used in the analysis of industrial and economic structures, as well as in making economic forecasts.

産業連関表

さんぎょうれんかんひょう


black economy

No one knows how large the black economy really is.

(economics) A sector of a nation's economy that is illegally undeclared and undocumented due to cash payments or tax avoidance

feketegazdaság

a sector of a nation's economy that is illegally undeclared and undocumented


Homo economicus

A pseudotaxonomic name, by analogy with Homo sapiens. The earlier term economic man was used for the first time in the late nineteenth century by critics of John Stuart Mill's work on political economy.

homo economicus (alternative)
homo oeconomicus (alternative)

(economics) A human being regarded as a rational and narrowly self-interested actor capable of making judgments in order to attain its own particular goals.


customs union

It appears the whole UK will remain in the customs union, so there are no tariff divergences or checks either on the island of Ireland or within the United Kingdom.

2018, Jonathan Lis, “Theresa May faces her party as a desperate gambler in hope of a break”, in Guardian:

A type of trade bloc which is composed of a free trade area with a common external tariff.

doeane-unie

a type of trade bloc which is composed of a free trade area with a common external tariff


reserve currency

reserve currency (plural reserve currencies)

(economics) A foreign currency that is held in reserve as foreign exchange reserves.


CPE

CPE (countable and uncountable, plural CPEs)

(economics) Abbreviation of centrally planned economy.


ordoliberalism

/ˌɔːdəʊˈlɪbɹəlɪz(ə)m/

/ˌɔɹdoʊˈlɪbəɹəlɪzəm/

Borrowed from German Ordoliberalismus (coined in 1950 by the German economist Hero Moeller (1892–1974)), from ORDO (the name of a journal, the full title of which is ORDO — Jahrbuch für die Ordnung von Wirtschaft und Gesellschaft (ORDO – Yearbook of Economic and Social Order) + Liberalismus (“liberalism”). ORDO is derived from Latin ōrdō (“methodical arrangement, order, or series”), probably ultimately from Proto-Indo-European *h₂er- (“to fit, put together; to fix”); while Liberalismus is from French libéralisme (ultimately from Latin līber (“free, independent, unchecked, unrestricted”), from Proto-Indo-European *h₁lewdʰ- (“to grow; people”)) + -ismus (“suffix forming the names of schools of thought, systems, or theories”).

der

(economics, politics) A political philosophy that emphasizes the desirability of the government establishing rules to maximize the potential of the free market to produce results.


ordoliberal

/ˌɔːdəʊˈlɪbɹəl/

/ˌɔɹdoʊˈlɪbəɹəl/

Probably a back-formation from ordoliberalism, borrowed from German Ordoliberalismus (coined in 1950 by the German economist Hero Moeller (1892–1974)), from ORDO (the name of a journal, the full title of which is ORDO — Jahrbuch für die Ordnung von Wirtschaft und Gesellschaft (ORDO – Yearbook of Economic and Social Order)) + Liberalismus (“liberalism”). ORDO is derived from Latin ōrdō (“methodical arrangement, order, or series”), probably ultimately from Proto-Indo-European *h₂er- (“to fit, put together; to fix”).

[W]hile ordoliberals share strong policy preferences (in some cases "elevated to the status of a religion"), they rest their case on rigorous micro analysis and stress the pertinence of a long-term orientation.

2017 November, Thorsten Beck, Hans-Helmut Kotz, “Introduction”, in Thorsten Beck, Hans-Helmut Kotz, editors, Ordoliberalism: A German Oddity? (A VoxEU.org eBook), London: CEPR Press, →ISBN, archived from the original on 2020-05-31, page 15:

(economics, politics) A proponent of the theories and ideals of ordoliberalism (“a political philosophy that emphasizes the desirability of the government establishing rules to maximize the potential of the free market to produce results”).

ordoliberaali

proponent of the theory and ideals of ordoliberalism


ordoliberal

en-adj

ordoliberal (comparative more ordoliberal, superlative most ordoliberal)

more ordoliberal (comparative)
most ordoliberal (superlative)

/ˌɔːdəʊˈlɪbɹəl/

/ˌɔɹdoʊˈlɪbəɹəl/

The institutional design of EZ [the Eurozone], being influenced by the rules versus discretion debate, has some ordoliberal touches (not the least since some German architects were imbued with ordoliberal ideas), but, of course, in reality, in particular in the wake of the crisis, they were not upheld.

2017 November, Thorsten Beck, Hans-Helmut Kotz, “Introduction”, in Thorsten Beck, Hans-Helmut Kotz, editors, Ordoliberalism: A German Oddity? (A VoxEU.org eBook), London: CEPR Press, →ISBN, archived from the original on 2020-05-31, page 14:

(economics, politics) Of or relating to ordoliberalism.


revalorization

revalorizations (plural)
revalorisation (alternative)

/ˌɹiːvaləɹʌɪˈzeɪʃ(ə)n/

(economics) The fact or process of setting a new value for a given commodity, currency etc.

rewaloryzacja

the fact or process of setting a new value for a given commodity (currency, etc)


acceleration principle

(economics) A theory in economics that states that an increase or decrease in income induces a corresponding but magnified change in investment.


ratissage

From French ratissage, from ratisser (“to rake”).

(economics) A monetary device whereby national reserves are temporarily given up to a central bank.


tragedy of the commons

en-noun

tragedy of the commons (plural tragedies of the commons)

Coined by American ecologist Garrett Hardin in 1968.

coinage

One theory, known as the tragedy of the commons, holds that people will exploit and abuse something in which they have no ownership stake.

1995 May 7, Timothy Egan, “Let the Owner Beware”, in New York Times, retrieved 2012-07-04:

Overfishing is the classic tragedy of the commons. Since no single nation "owns" the high seas, they exploit it without restraint and without thought to sustainability.

2010 November 18, “Troubles as deep as the oceans lie ahead”, in The Independent, UK, retrieved 2012-07-04:

The economist Elinor Ostrom, who is on our list this year, has written about the tragedy of the commons, which is the idea that self-interest can undermine the common good.

2012 April 18, Richard Stengel, “Editor's Letter: A World of Possibilities”, in Time, archived from the original on 2013-02-04:

(ecology, economics, politics, social criticism) A situation in which unmanaged use of a shared resource (such as the atmosphere or an ocean) by a number of participants results in the unintended ruin or total consumption of that resource.


subject of labor

(economics, Marxism) Everything to which human labor is applied.

勞動對象 /劳动对象

everything to which human labor is applied


abstinence theory

(economics) A theory that abstinence in business will bring beneficial interest.


capital good

Some of the products of the economy are capital goods. For simplicity and as an aid to intuition, I assume that capital goods and consumption goods do not overlap: the m consumption goods are useless as means of production, and the n capital goods yield no direct utility.

2004, Fabrio Petri, General Equilibrium, Capital And Macroeconomics: A Key To Recent Controversies In Equilibrium Theory, page 84:

(economics, chiefly in the plural) A durable item that is used in the production of other goods or services.


Hooverian

en-adj

Hooverian (comparative more Hooverian, superlative most Hooverian)

more Hooverian (comparative)
most Hooverian (superlative)

(economics) Of or relating to the politics or economics of Herbert Hoover.


ease of doing business index

en-noun

ease of doing business index (plural ease of doing business indexes)

(economics) An index created by the World Bank, where higher rankings indicate better, usually simpler regulations for businesses and stronger protections of property rights.


business index

business index (plural business indexes)

Germany’s business index shows a negative outlook with a dire picture, indicating that the broader European crisis will affect Europe’s second-largest economy.

ease of doing business index
ease of doing business index#English

(economics) Ellipsis of ease of doing business index.


Thatchernomics

(economics) The economic policies followed by Margaret Thatcher, British prime minister.


sin tax

He has suggested raising “sin taxes” on cigarettes, liquor and arcade games to pay for the 24-percent teacher pay raise he supports.

1963 May 1, Kathryn Baker, “White Facing Realities: Time, Cash”, in Victoria Advocate, Texas, USA, retrieved 2012-09-29, page 16A:

Another form of consumption tax that some foresee is a “sin tax”, which would come in the form of higher excise taxes on alcohol and tobacco.

1988 Dec. 19, Jan M. Rosen, "Tax Watch: The Likely Forms Of New Taxes," New York Times (retrieved 29 Sep 2012)

The sin tax is an established tactic. In the early 1500s, Pope Leo X underwrote his lavish lifestyle in part by taxing licensed prostitutes.

2009 April 2, Alex Altman, “A Brief History Of: Sin Taxes”, in Time:

(idiomatic, politics) A government-imposed tax on a specific good, service, or activity which is legal but widely considered to be unwholesome or socially harmful, such as a tax on alcoholic beverages, tobacco products, or gambling.


Fordism

From Ford + -ism, named after American industrialist Henry Ford (1863–1947).

named-after

An economic and social system based on industrial mass production, where the worker is paid relatively high wages in order to buy in large quantity the products turned out in mass production.


redistribution of wealth

en-noun

redistribution of wealth (countable and uncountable, plural redistributions of wealth)

(economics) The process of redistributing income between members of a society through transfer payments, taxes, etc.


microcosting

(economics) The analysis of every cost involved in a particular instance of a procedure (rather than gross or average costs)


Dutch disease

Coined by The Economist magazine in 1977, to describe the situation in the Netherlands where a natural resources find of a large natural gas field caused the Dutch guilder to rise in valuation, depressing exports and causing the manufacturing sector to decline, that occurred after 1959.

(economics) An increase in the value derived from the natural-resources sector of the economy, leading to a rise in the valuation of the currency increasingly based on the natural-resources sector, and thus causing a deterioration in the manufacturing sector by making the manufactured goods less competitive in the export marketplace compared to those manufactured by economies with lower valuation currencies, because they are relatively more expensive.


factor market

The instance of a few buyers and many sellers in the factor market with many buyers and sellers in the product market is typified by the classic cases of unorganized wage-earners in company towns, for instance, textile and coal.

1942, John T. Dunlop and Benjamin Higgins, "“Bargaining Power” and Market Structures," Journal of Political Economy, vol. 50, no. 1 (Feb.), p. 24

In China, for instance, there is still the need to liberalize the factor market, especially in the land and labor market.

2010 January 13, Maria Monica Wihardja, “G20 and East Asia: A forum for the Asian agenda”, in Jakarta Post, retrieved 2013-01-25:

Fiji Commerce Commission chairman Dr Mahendra Reddy said . . . "They want no price control in the product market but they want price control in the factor market."

2011 June 6, Mary Rauto, “Price control to remain”, in Fiji Times, retrieved 2013-01-25:

factors of production
factor of production

(economics) The system or infrastructure for economic exchange within which factors of production (such as labor, materials, or capital) are purchased or sold.


shadow price

Friedman (1969) argued that a positive shadow price of money balances would violate the Pareto-efficiency condition that the shadow price of anything should equal its marginal cost.

1982, Frank Hahn, Monetary and Inflation, Oxford: Basil Blackwell, page 1:

We focus on indirect methods such as using individual choice between life-threatening versus safe jobs to infer something about the shadow price of life or using land rent differentials to infer the shadow price of air pollution.

1988, David A. Starrett, Foundations in Public Economics, →ISBN, pages 6–7:

Thus, the social cost and the shadow price of paddy is much higher than what is paid to the farmers.

2003 August 11, Sarbjit Dhaliwal, “Punjab fights a losing battle on Johl plan”, in The Tribune, India, retrieved 2012-01-26:

Mike Young has been studying the shadow price of water, the amount that would be paid under normal market conditions.

2007 Feb. 7, "Experts call for water pricing scheme" (transcript), Australian Broadcasting Corporation (retrieved 26 Jan 2012)

(economics) A price for a resource, good, or service which is not based on actual market exchanges, but is mathematically derived from indirect data obtained from related markets.


shadow price

en-verb

shadow price (third-person singular simple present shadow prices, present participle shadow pricing, simple past and past participle shadow priced)

shadow prices (present singular third-person)
shadow pricing (participle present)
shadow priced (participle past)
shadow priced (past)

(transitive, economics) To calculate a shadow price for.


Jevons paradox

the Jevons paradox (canonical)
Jevons' paradox (alternative)

Named after English economist William Stanley Jevons (1835–1882).

named-after

One well-known example is electricity usage, where the Jevons paradox explains how making appliances more energy efficient can backfire by stimulating demand.

2019 November 1, Oliver Burkeman, “Not enough hours in the day? Well, finding more may not help”, in The Guardian:

(economics) The proposition that technological progress that increases the efficiency with which a resource is used tends to increase (rather than decrease) the rate of consumption of that resource.


postboom

Austin, even postboom Austin, has always been small enough to accommodate my haunts — the grocery, the laundromat, the burger joint, and the bookstore — within walking distance.

1988 September, Texas Monthly, volume 16, number 9, page 94:


redenomination

en-noun

redenomination (countable and uncountable, plural redenominations)

Argentine austral
Argentine peso
ISO 4217

After the redenomination, the new peso was worth 100 old pesos.

(economics, finance) The recalibration of the face value of a currency, most frequently by multiplying that value by a power of 10, sometimes followed by the demonetization of any cash issued with the original face value.


bullionism

(economics, historical) An economic theory that defines wealth by the amount of precious metals owned; a primitive form of mercantilism.

bullionisme

an economic theory that defines wealth by the amount of precious metals owned


ODA

Japan's initial contribution to Kabul resembled “checkbook diplomacy plus” with a pledge of ODA plus the dispatch of the Maritime SDF to the Indian Ocean. These steps appeared sufficient.

2014, Dennis T. Yasutomo, Japan's Civil-Military Diplomacy: The Banks of the Rubicon, Routledge, →ISBN:

official development assistance
w:official development assistance

(economics) Initialism of official development assistance.


municipalization

municipalization (countable and uncountable, plural municipalizations)

(economics) The transfer of corporations or other assets to municipal ownership.


NAIRU

(economics) Initialism of non-accelerating inflation rate of unemployment.


deficit spending

(economics) The spending by a government in excess of government revenue, intended to boost the economy.


FIRE

As Figure 2.1 demonstrates, total income acquired by the finance, insurance and real estate (FIRE) sector has been increasing since the early 1980s. While in the 1952–1980 period, the share of national income that went to the FIRE sector hovered between 12 and 14 percent, by the 2000s it had approached 20 percent.

2008, Özgür Orhangazi, Financialization and the US Economy, Edward Elgar Publishing, →ISBN, page 11:

(economics, business) Acronym of finance, insurance and real estate, a class of businesses.


liquidationism

From liquidation + -ism, calque of Russian Ликвидаторство (Likvidatorstvo), possibly via German. First attested in 1919.

calque

Ликвидаторство

(economics, libertarianism) The belief that no actions to mitigate the effects of recessions should be taken by the government or the central bank, since the liquidation of struggling companies is a solution in itself.


terms of trade

(economics) Relative price of exports in terms of imports, defined as the ratio of weighted average export prices to weighted average import prices.


semistrong

(economics) Of or relating to a form of the Efficient-market hypothesis that implies that share prices adjust to publicly available new information very rapidly and in an unbiased fashion, such that no excess returns can be earned by trading on that information.


risk-averse

en-adj

risk-averse (comparative more risk-averse, superlative most risk-averse)

more risk-averse (comparative)
most risk-averse (superlative)

Near-synonyms: conservative; reluctant; cautious

The answer, says Mark Smith (The Man in Seat 61) is "to reassure the risk-averse Treasury that prices within a new structure will not be difficult to adjust if calculations to achieve revenue neutrality are out by 2% or whatever. You're not stuck with the prices you implement on Day 1."

2022 November 30, Anthony Lambert, “Rail fares fit for the 21st century”, in RAIL, number 971, page 40:

Arsenal were untroubled elsewhere, Forest's risk-averse gameplan making it a relatively easy night for their defenders until Awoniyi emerged after being out with injury since October, finally giving them something to think about.

2024 January 30, Phil McNulty, “Nottingham Forest 1-2 Arsenal: Gunners in title race after they close gap to leaders Liverpool”, in BBC Sport:

Unwilling to take risks; especially (economics) reluctant to accept a bargain with an uncertain payoff rather than another bargain with a more certain, but possibly lower, expected payoff.


English disease

A calque of phrases from various languages, including the French maladie anglaise, Polish angielska choroba, German englische Krankheit, and the Russian англи́йская боле́знь (anglíjskaja boléznʹ).

calque

англи́йская боле́знь

industrial relations
industrial relations

Poor industrial relations and the resulting economic weakness.


antimonopolistic

en-adj

antimonopolistic (comparative more antimonopolistic, superlative most antimonopolistic)

more antimonopolistic (comparative)
most antimonopolistic (superlative)


unholy trinity

en-noun

unholy trinity (plural unholy trinities)

impossible trinity
impossible trinity#English

(economics) Synonym of impossible trinity.


foreign direct investment

foreign direct investment (countable and uncountable, plural foreign direct investments)

foreign direct investments (plural)
FDI (abbreviation)

(finance, economics) Direct investment into production or business in a country by an individual or company of another country, either by buying a company in the target country or by expanding operations of an existing business in that country.


MZM

(economics) Initialism of money with zero maturity.


QoQ

(economics) Initialism of quarter-over-quarter/quarter-on-quarter.


PPC

PPC (countable and uncountable, plural PPCs)

production-possibility curve
production-possibility curve#English

(economics) Initialism of production-possibility curve.


mudflation

massively multiplayer online game
massively multiplayer online game

(economics, informal) The gradual decrease in the value of existing virtual goods in a massively multiplayer online game as new goods are introduced.


antislump

(economics) Countering or preventing a slump.


public purse

From public (adjective) + purse (“(figurative) quantity of money given for a particular purpose”, noun).

compound

The public purse should be spent in the public interest.

This means that while initial funding will come from the public purse, landowners along the route will eventually pay back a share of the uplift in land values created by the new line.

2021 February 10, “Network News: Additional Funds Enable Preparatory Work for Ashington Reopening”, in Rail, number 924, Peterborough, Cambridgeshire: Bauer Media, →ISSN, →OCLC, page 8:

(economics, government, idiomatic) A quantity of money collected by a government through taxation and other methods, and used for public purposes; public funds, public money.

公款

quantity of money collected by a government and used for public purposes


merit good

(economics) A commodity that an individual or society should have on the basis of some concept of need, rather than ability and willingness to pay.


menu cost

From the fact that in the case of a restaurant owner, the only costs of this kind would be those incurred in printing new menus.

(economics) A cost incurred by a firm when it changes its prices.


mercantilistic

en-adj

mercantilistic (comparative more mercantilistic, superlative most mercantilistic)

more mercantilistic (comparative)
most mercantilistic (superlative)

(economics) Relating to, or characteristic of mercantilism.

mercantilista

relating to, or characteristic of mercantilism


black swan event

en-noun

black swan event (plural black swan events)

black swan events (plural)
black-swan event (alternative)

(economics) A highly improbable occurrence that has an impact on the economy.


physiocracy

(economics, historical) The teachings of physiocrats.


economicology

(ecology, economics) The study of the interrelationship between economics and ecology


anarcho-mutualism

(economics) The independent possession, by every individual, of the means of production, in a free market with minimal interest rates.


anarcho-communism

(politics, economics) A form of anarchism advocating the abolition of the state and capitalism in favor of a horizontal network of voluntary associations through which people would satisfy their needs.


anarcha-feminist

anarcha-feminists (plural)
anarcho-feminist (alternative)

(politics, economics) A person who advocates anarcha-feminism.


inverted totalitarianism

Coined by political philosopher Sheldon Wolin in 2003.

A system in which democracy is corrupted and subverted by corporations and politics is trumped by economics.


triopoly

From tri- + -opoly by analogy with monopoly and duopoly.

(economics) A market situation in which three companies dominantly provide a particular product or service.


quadropoly

From quadro- + -poly by analogy with monopoly and duopoly.

(economics) A market situation in which four companies exclusively provide a particular product or service.


quintopoly

From quint- + -opoly by analogy with monopoly and duopoly.

(economics) A market situation in which five companies exclusively provide a particular product or service.


anarcho-communist

(politics, economics) Of, supporting, relating to, or advocating anarcho-communism.

anarcho-communiste

pertaining or relating to anarcho-communism


anarcho-communist

During the 1960s, anarcho-communists led the search for radical solutions to the historically novel problems facing young people. Above all, many people now wanted a say in the decisions which affected them.

1998, Richard Barbrook, “The Holy Fools”, in Mute, volume 1, number 11, →ISSN:

(politics, economics) A person who advocates anarcho-communism.


price discrimination

price discrimination (countable and uncountable, plural price discriminations)

(economics) The practice of charging different prices to different categories of consumers.

cenová diskriminace

the practice of charging different prices to different categories of consumers


price discriminate

en-verb

price discriminate (third-person singular simple present price discriminates, present participle price discriminating, simple past and past participle price discriminated)

price discriminates (present singular third-person)
price discriminating (participle present)
price discriminated (participle past)
price discriminated (past)

Back-formation from price discrimination

back-formation

(economics) To charge different prices to different categories of consumers.


misery index

en-noun

misery index (plural misery indexes or misery indices)

misery indexes (plural)
misery indices (plural)

(economics) An economic indicator formed by adding the unemployment rate to the inflation rate.


creative destruction

Calque of German schöpferische Zerstörung, popularized by economist Joseph Schumpeter.

cal

Like all major industrial advances, the telecomputer is an instrument of creative destruction. All the likely victims are mobilizing to prevent their own destruction. It is unsure how soon the creators will win.

1990, George F. Gilder, Life After Television, page 37:

There may be additional explanations for the acceleration of structural economic change. What counts, however, is the result: Schumpeter’s ‘creative destruction’ – the displacement of old skills, trades and entire industries with their dependent localities, by more efficient new skills, trades and entire industries – is now apt to span years, often very few years, rather than generations.

1994 April 7, Edward Luttwak, “Why Fascism is the Wave of the Future”, in London Review of Books, volume 16, number 07, →ISSN:

If creative destruction allows fast economic growth without generating serious inflation, then it might make sense, for example, to put high values on the shares of companies that will do well in such an unusual environment.

2000 June 10, Sharon Reier, “Half a Century Later, Economist's 'Creative Destruction' Theory Is Apt for the Internet Age”, in The International Herald Tribune, →ISSN:

Creative destruction, the term coined by economist Joseph Schumpeter to describe the workings of innovation and technology, justly became a buzzword of the New Economy. Many new companies have been created; almost as many will be destroyed.

2001 June 20, Daniel Gross, “Creative Destruction and the Web”, in The New York Times, →ISSN:

New-media thinkers, with their appetite for disintermediation and creative destruction, implicitly endorse and advance this transformation.

2014, Astra Taylor, chapter 2, in The People's Platform: Taking Back Power and Culture in the Digital Age, Henry Holt and Company, →ISBN:

More than the much-remarked squeeze on working-class jobs in areas of the economy such as manufacturing, [Edward] Luttwak saw an accelerated “creative destruction” affecting clerical jobs in white-collar data-heavy industries such as banking that were being disrupted by capital's “Schumpeteresque” technology-assisted modernisation as they were digitised.

2020, Marcus Gilroy-Ware, After the Fact?, Repeater, →ISBN:

Tech workers know that creative destruction is part and parcel of working in a highly innovative industry. That is also why, despite the anxiety around job losses, new openings will arise.

2025 May 24, “The great AI jobs disruption is under way”, in FT Weekend, The FT View, page 8:

(economics, capitalism) The process of industrial mutation that continually revolutionizes the economic structure from within.


sharing economy

en-noun

sharing economy (plural sharing economies)

The sharing economy reveals a return to behaviors such as bartering and to legal forms like co-operatives.

2011, Lucy Bernholz, Philanthropy and Social Investing Blueprint 2012, →ISBN, pages 33–34:

Tight economic times and a growing openness to strangers thanks to the Internet have given rise to the "sharing economy." People are logging on to sites and apps to rent out their cars, houses and even their clothes directly to one another.

2013 September 16, Eliana Dockterman, “The Rise of 'Sharecations'”, in Time, retrieved 2014-06-17:

In the sharing economy, safety issues, taxes and regulation have tended to be an afterthought.

2014 April 21, David Streitfeld, “Companies Built on Sharing Balk When It Comes to Regulators”, in New York Times, retrieved 2014-06-17:

(economics, public policy) A system of economic exchange in which participants interact in a direct and cooperative manner, often with the aid of social media, to produce, market, and consume goods, services, and resources.


NZMC

(economics) Initialism of near-zero marginal cost.


fair value

fair value (countable and uncountable, plural fair values)

(accounting, economics) A rational, unbiased estimate of the potential market price of goods, services, or assets, taking into account both objective factors (such as production and distributions costs) and subjective factors (such as risks and supply vs. demand).


Okun's law

Named after Arthur Melvin Okun, who proposed the relationship in 1962.

(economics) An empirically observed relationship between unemployment and losses in a country's production. The "gap version" states that for every 1% increase in the unemployment rate, a country's GDP will be roughly an additional 2% lower than its potential GDP. The "difference version" describes the relationship between quarterly changes in unemployment and quarterly changes in real GDP.


human capital

The authors found that human capital, including learning skills, accounted for “61.2, 62.4, and 66.0 percent of the variation in lifetime earnings, lifetime wealth, and lifetime utility” — a measure of life satisfaction.

2020 July 28, Thomas B. Edsall, “Trump Is Trying to Bend Reality to His Will”, in New York Times:

(economics) The stock of competencies, knowledge, habits, social and personality attributes, including creativity, cognitive abilities, embodied in the ability to perform labor so as to produce economic value.


GPI

A number of US states, like Maryland and Vermont, have already begun to use GPI as a measure of progress, albeit secondary to GDP.

2017, Jason Hickel, “Inventing the Future”, in The Divide […] , London: William Heinemann, →ISBN:

genuine progress indicator
w:genuine progress indicator

(economics) Initialism of genuine progress indicator.


-poly

Derived, by analogy with monopoly, from the root of Ancient Greek πωλέω (pōléō, “I sell”).

(economics) Pertaining to the number of sellers in a market.

-poli

pertaining to the number of sellers in a market


dollar democracy

(economics, US, Canada) The ability of consumers to influence the economy and business decisions by their spending


Micawber threshold

From the Dickens character Wilkins Micawber, known for his inability to work his way out of poverty.

As for the moderate poverty line, the existence of positive expected net savings capacity is in a sense a Micawber threshold [Dickens 1849-50, ch. 14], separating accumulation from decumulation of the present value of a person's human and physical capital stock.

1994, Philip L. Martin, Mexican Maquiladoras: Origins, Operations and Outlook (International Institute for Labour Studies, 1994) p. 9

If drawing down such assets pushes the household below the Micawber threshold, then the estimated poverty-trap asset dynamics again predict that the temporary shock will have permanent, long-run effects.

2006, Vishnu Padayachee, The Development Decade?: Economic and Social Change in South Africa, 1994-2004, HSRC Press, page 132:

The key point for lessons for conservation in general, and that of felids in particular, is that there exists a poverty line, or a variant of it that Carter and Barrett call the Micawber threshold (a charmingly Dickensian allusion to perpetually insolvent debtors) below which the poor are economically incapable of bettering their situation without significant outside help; people in this situation have no incentive to save or preserve anything, including wildlife and especially big cats, which are damaging and dangerous.

2010, David Macdonald, Andrew Loveridge, The Biology and Conservation of Wild Felids, Oxford University Press, page 631:

(economics) A level of income, above the poverty line, but not high enough to cope with economic shocks.


fiscal cliff

(politics, economics) A situation where a number of large spending or taxation bills begin or end simultaneously.


debt ceiling

debt ceilings (plural)
debt-ceiling (alternative)

(politics, economics) The limit up to which an entity (usually a government) is legally allowed to borrow.


Marshall-Lerner condition

Marshall-Lerner condition (plural Marshall-Lerner conditions)

Named after Alfred Marshall and Abba P. Lerner.

(economics) The condition that an exchange rate devaluation or depreciation will only cause a balance of trade improvement if the absolute sum of the long run export and import demand elasticities is equal to, or greater than 1.


distributism

distributionism (alternative)
distributivism (alternative)

An economic ideology, based on Catholic social teachings, according to which property ownership is a fundamental right and the means of production should be spread as widely as possible rather than being centralized under the control of the state, corporations, or a few individuals.


market failure

market failure (countable and uncountable, plural market failures)

From a policy perspective, market failure should be a matter of concern when market performance significantly deviates from the appropriate efficiency benchmark.

2007, Clifford Winston, Government Failure versus Market Failure: Microeconomics Policy Research and Government Performance, Brookings Institution Press, →ISBN, page 3:

"Climate change is a result of the greatest market failure the world has seen. The evidence on the seriousness of the risks from inaction or delayed action is now overwhelming. We risk damages on a scale larger than the two world wars of the last century. The problem is global and the response must be a collaboration on a global scale."

2007 November 29, Alison Benjamin, “Stern: Climate change a 'market failure'”, in The Guardian:

(economics) A situation in which the allocation of goods and services by a free market is not efficient.

շուկայի ձախողում

a situation in which the allocation of goods and services by a free market is not efficient


swadeshi

PIE word
 *swé
Borrowed from Hindi स्वदेशी (svadeśī, “nationalist, patriotic; policy of nationalist self-sufficiency, swadeshi; proponent of the swadeshi movement”), from स्वदेश (svadeś, “one’s own country”) + -ई (-ī, suffix forming adjectives, or forming nouns meaning a person who does an action indicated by the stem). स्वदेश is derived from Sanskrit स्वदेश (svadeśa), from स्व (sva, “his or her own”) (ultimately from Proto-Indo-European *swé (“(pronoun) self”)) + देश (deśa, “country; point, place”) (ultimately from Proto-Indo-European *deyḱ- (“to point out”)).

der

The Swadeshi movement in India is one which in certain of its aspects can be regarded with much sympathy. A spirit of patriotism is excellent, and the endeavour to engender and foster it, provided it is made along legitimate lines, calls for encouragement and not condemnation.

1906 September, “[Editorial Notes.] Missionaries Assaulted in a Swadeshi Riot.”, in The Church Missionary Intelligencer: A Monthly Journal of Missionary Information, volume XXXI (New Series; volume LVII overall), London: Church Missionary Society, […], →OCLC, page 713:

The Swadeshi movement, in its bad sense—the boycotting of foreign goods—has had no effect on imports as a whole, and even the articles specifically aimed at, cotton goods and sugar, have entered to an unparalleled extent in the last three years. The good side of the Swadeshi movement, the development of indigenous industries, is seen in the increased imports of textile machinery and metals.

1907 July, “Notes on Colonial and Foreign Banking, Finance and Commerce. [Indian Foreign Trade.]”, in The Bankers’, Insurance Managers’ & Agents’ Magazine, volume LXXXIV, number 760, London: Waterlow and Sons […], →OCLC, page 61:

The cry of the Indian "Insurgent" to-day is "Shiksha," (education,) education in all its phases and branches, both extensive and intensive; "Swadeshi," (home industries) and "Swaraj" (self-government).

1911 December 30, Basanta Koomar Roy, “Insurgency in India”, in Robert M[arion] La Follette, editor, La Follette’s Weekly Magazine, volume III, number 52, Madison, Wis.: Robert M. La Follette Company, →OCLC, page 8, column 1:

And yet long before this popular ebullition of excitement, I myself had given a thousand rupees, when I had not five rupees to call my own, to open a Swadeshi store and courted banter and bankruptcy.

1921 March 5, Rabindranath Tagore, “Chicago, March 5, 1921”, in C[harles] F[reer] A[ndrews], editor, Letters from Abroad, Triplicane, Madras, Tamil Nadu: S. Ganesan, published 1924, →OCLC, page 78:

My work should be, and therefore is, to organise the production of handspun cloth, and to find means for the disposal of the Khadi thus produced. [...] I swear by this form of Swadeshi, because through it I can provide work to the semi-starved, semi-employed women of India.

1929, M[ohandas] K[aramchand] Gandhi, “An Instructive Dialogue”, in Mahadev Haribhai Desai and Pyarelal Nair, transl., The Story of My Experiments with Truth: Translated from the Original in Gujarati, volume II, Ahmedabad, Gujarat: Navajivan Press, →OCLC, part V, page 572:

The anti-partition agitation with its vehement invective, its appeals to Hindu sentiment, its cry that Bengal as motherland, once rich and famous, had been torn in two despite the protests of her children, its proposals for enforcing a punitive boycott of foreign goods and supplanting them entirely by "swadeshi" indigenous products, its enlistment of students and school-boys in picketing operations, gave ample cover for the sedulous teaching of revolutionary doctrines.

1932, H[enry] Verney Lovett, “The Rise of an Extremist Party”, in H[enry] H[erbert] Dodwell, editor, The Cambridge History of India, volumes VI (The Indian Empire 1858–1918 […]), Cambridge, Cambridgeshire: University Press, →OCLC, page 551:

When H[erbert] H[ope] Risley—writing in 1909 just after the swadeshi movement had introduced the possibility of mass agitational politics as well as he specter of communal violence in Bengal—contemplated the political implications of the caste system, he confirmed British assumption by declaring that caste opposed nationality and would hinder the growth of nationalist politics.

1996, Nicholas B. Dirks, “The Conversion of Caste: Location, Translation, and Appropriation”, in Peter van der Veer, editor, Conversion to Modernities: The Globalization of Christianity, New York, N.Y., London: Routledge, →ISBN, page 115:

Mahatma Gandhi was not only a politician but an economic, social and religious reformer too. He felt that if swaraj or self-government was to mean anything for the dumb millions of the country the national movement must touch all aspects of the villager's life. He also developed his scheme of the revival of charkha and the development of swadeshi.

2009, G. R. Madan, “Rural Community Development”, in Indian Social Problems: Social Disorganization and Reconstruction, 6th edition, volume 2 (Social Work), New Delhi, Mumbai, Maharashtra: Allied Publishers, published 2012, →ISBN, page 192:

With tension all around, the police laid siege to large areas of the city and started raiding various homes and educational institutions and whosoever was even remotely connected with nationalism and swadeshi were promptly arrested.

2013, Samir Bhattacharya, “The Honour of the Country Comes First Always and Everytime^([sic])”, in Nothing But!: Book 2: The Long Road to Freedom, [Bloomington, Ind.]: Partridge India, →ISBN, page 164:

The first Indian Industrial Conference meeting in 1905, bringing together industrialists from all over India, decided to "foster and extend the use of such manufactures in India in preference to foreign goods." That demand intersected with the emerging Swadeshi movement, which advocated Indian self-sufficiency, especially in cottons, and symbolized the confluence of cotton entrepreneurs and the emerging nationalist political elites.

2014, Sven Beckert, “The Return of the Global South”, in Empire of Cotton: A Global History, New York, N.Y.: Vintage Books, published November 2015, →ISBN, page 420:

Is this news? Not to [Mahatma] Gandhi, whose swadeshi campaigns of local self-reliance drew support away from the dominating colonial paradigm of pauperizing indigenous populations by making them producers of raw materials and consumers of value-added products, [...]

2014, Tom H. Hastings, “Part 2: Promote Nonviolent Conflict Management”, in A New Era of Nonviolence: The Power of Civil Society over War, Jefferson, N.C.: McFarland & Company, →ISBN, section I (Ending Civil Wars), page 78:

(India, economics, politics, also attributively) A policy of nationalist self-sufficiency in India, involving the revival and promotion of domestic production and (originally) the boycott of British products.


comparative advantage

en-noun

comparative advantage (countable and uncountable, plural comparative advantages)

(economics) The ability to produce a particular good at a lower relative opportunity cost than another producer.

the ability to produce a particular good at a lower relative opportunity cost than another producer

اِمْتِيَازٌ نِسْبِيٌّ m (imtiyāz·un nisbiyy·un, literally “relative advantage”)


demand curve

(economics) A graph depicting the relationship between the price of a certain commodity and the amount of it that consumers are willing and able to purchase at that given price.


supply curve

(economics) the graph depicting the relationship between the price of a certain commodity and the amount of it that producers are willing and able to supply at that given price


tax auditor

(economics) A person who collects taxes.


accelerationism

accelerationism (countable and uncountable, plural accelerationisms)

From acceleration + -ism. Usage as “support for accelerating capitalism” attributed to Benjamin Noys, 2010s.

Accelerationism was the most fundamental transformation of the Phillips approach into an expectational format. It hypothesized that inflation will become increasingly rapid in any maintained situation in which unemployment lies below some critical, or “natural,” rate.

1975, Arthur Melvin Okun, “Inflation: Its Mechanics and Welfare Costs”, in Brookings Papers on Economic Activity, volume 6, number 2:

For the period through 1984, there is weak support for accelerationism, though the linear fit is mainly due to the disinflationary impact of high unemployment, which no one disputes, not the inflationary effects of prosperity.

1998, James K. Galbraith, “Comments”, in Inflation, Unemployment, and Monetary Policy, page 66:

(economics) The theory that excessively low unemployment accelerates inflation.


AGI

AGI (countable and uncountable, plural AGIs)

AGIs (plural)
A.G.I. (alternative)
A. G. I. (alternative)

The credit begins to phase out for adjusted gross incomes (AGIs) over $252,150 and completely phases out at AGIs over $292,150. Both the credit and AGI limits are indexed for inflation.

2025 May 18, “The One, Big, Beautiful Bill”, in United States House Committee on Ways & Means, page 14:

adjusted gross income
adjusted gross income#English

(economics) Initialism of adjusted gross income.


fiscalism

Hereby it will become clear how Keynesianism, a doctrine appealing to the monetary theorist JOHN MAYNARD KEYNES, soon converted into fiscalism, a position ascribing stronger effects to fiscal than monetary policy – and, in the extreme, denying the latter all real and nominal effects.

1987, Bernhard Felderer, Stefan Homburg, Macroeconomics and New Macroeconomics, 2nd edition, Springer-Verlag, published 1992, page 135 & 136:

1993, D. M. Mithani, Dynamics of Monetary-Fiscal Policy: An Indian Perspective, Himalaya Publishing House, page 28.
The doctrine of fiscalism, in essence, implies that money doesn not matter so much as the monetarists make it out. The fiscalists hold that monetary policy is important, but its potency is weakened by the institutional forces. To them, fiscal policy is, by and large, a more effective and powerful economic stabilisation device.

With a relatively inelastic IS curve and a relatively elastic LM curve Keynesianism became synonymous with 'fiscalism' and policies to fine tune the macroeconomy.

1997, Brian Snowdon, Howard R. Vane, “The development of modern macroeconomics: A rough guide”, in Brian Snowdon, Howard R. Vane, editors, A Macroeconomics Reader, Routledge, published 2003:

Despite this view of the importance (or lack of it) of fiscal policy for full employment it is also important to note that 'fiscalism' did become deeply entrenched in Britain in this period. Budgetary policy became the centre piece of macro-economic policy to an extent to which no other country can compare (Dow 1964, p.178).

2014, Jim Tomlinson, British Macroeconomic Policy since 1940, Routledge Revivals:

Minsky's work factored in the transformation away from fiscalism that characterised the “long 1970s” and contributed to the development of "Post-Keynesian" economics, an intellectual program dedicated to revolutionising macro-economics in a way that was true to the spirit of Keynes eschewing the Neo-clasical synthesis inherent to the IS/LM models that formed the basis of fiscalism.

2017, Chris Jefferis, The Dialectics of Liquidity Crisis, →ISBN, page 41:

(economics) The belief that fiscal policy should function as the primary macroeconomic stabiliser (e.g. for controlling inflation), often associated with the IS–LM model.


freeconomics

Much attention has been devoted to the concept of freeconomics, most notably the recent book by Wired magazine editor Chris Anderson entitled, "Free: The future of a radical price." Most consumer-level cloud offerings would be labeled a "freemium", which is a free version that is supported by a paid, premium version.

2010, Khaled Elleithy, Tarek Sobh, Magued Iskander, Technological Developments in Networking, Education, and Automation, →ISBN, page 3:

Isn't the concept of freeconomics founded on the power of a zero price? Unfortunately, freeconomics does not insulate entrepreneurs from the path that is inherent to any new business: a fragile endeavor with limited financial resources, crowded markets, and the need to get one's idea out so that it becomes widely known.

2011, Nicolas Pujol, The Mind Share Market: The Power of an Alternative Currency, →ISBN:

Well, today more and more Web companies are using digital technology and the principles of freeconomics to make profits by giving something away free of charge.

2014, Irvin Tucker, Survey of Economics, →ISBN, page 129:

A business model in which a product is offered free of charge and supported by sales of a premium version.


RPI

Retail Price Index
Retail Price Index#English

(UK, economics) Initialism of Retail Price Index.


free silver

(US, economics, historical) The free coinage of silver, often at a fixed ratio with gold, as at the ratio of 16 to 1, which ratio for some time represented nearly or exactly the ratio of the market values of gold and silver respectively.


introversive labor

To this extent introversive labor may influence the supply on the market. But as a rule, catallactics is concerned only with extroversive labor. The psychological problems raised by introversive labor are catallactically irrelevant. Seen from the point of view of economics introversive labor is to be qualified as consumption.

1966, Ludwig Mises, Human Action, →ISBN, page 578:

(economics) Labor that is expended in order to strengthen or make vigorous or agile the mind or body; or to achieve a religious purpose; or labor that is expended to avoid the disutility of work, as for example, to forget, to escape from depressing thoughts or banish annoying thoughts.


working poor

(economics) Working people whose incomes fall below a given poverty line.


neomercantilism

(economics) A modern economic policy that involves a return to the policies of mercantilism

neomercantilismo

a modern economic policy that involves a return to the policies of mercantilism


neo-Ricardian

(economics) Of or relating to the economics of David Ricardo as interpreted by Piero Sraffa.


Great Recession

Income inequality usually shrinks during a recession, but in the Great Recession, it didn’t. From 2007 to 2009, the most-recent years for which data are available, it widened a little. […] It’s hard to miss just how unevenly the Great Recession has affected different classes of people in different places.

2011 July 25, Don Peck, “Can the Middle Class Be Saved?”, in The Atlantic:

This was before the financial crash, before the Great Recession. The amazing real-estate bubble had not yet popped, and the economy was still apparently rocking.

2020 August 7, Kurt Andersen, “College-Educated Professionals Are Capitalism’s Useful Idiots”, in The Atlantic:

But starting a rocket company is what Musk did — and, after also pouring money into another money-burning venture, Tesla, Musk came very close to losing it all after the Great Recession.

2022 April 28, Farhad Manjoo, “Is Elon Musk Really That Bad?”, in The New York Times, →ISSN:

The worldwide general economic decline towards the end of the first decade of the 21st century.


selldown

selldowns (plural)
sell-down (alternative)

Telstra Corporation was down 11 cents, or 3.17 per cent, at $3.36 continuing Friday's drop that followed a selldown by the Future Fund, the nation's sovereign wealth fund.

2009 August 24, “Market takes a big leap forward”, in Herald Sun, archived from the original on 2009-08-28:

(Australia, economics) The selling of sufficient shares to significantly reduce their price.


reflator

(economics) A person who encourages reflation


spendathon

(informal, economics) A period of intense spending


emerging market

emerging market (plural emerging markets)

International Finance Corporation
emerging market

Popularized by the International Finance Corporation, early 1980s.

And while Brazil's Telebras and South Africa's Anglo American Corp. again rank among the world's top emerging-market groups, their market capitalizations are also down from last year.

1998 July 13, Kerry Capell et al., “Emerging Markets: The Winners in a Losing Year”, in Businessweek, retrieved 2015-07-10:

Around 70% of world growth over the next few years will come from emerging markets, with China and India accounting for 40% of that growth.

2011 July 8, Kenneth Rapoza, “Emerging Market Growth Beats US”, in Forbes, retrieved 2015-07-10:

It's been a long time since the farmers left the "farmhouses" of Delhi, but the word now describes the weekend retreats of the upper class, playgrounds on the fringes of this emerging-market city.

2012 April 23, Ruchir Sharma, “Hitting the BRIC Wall”, in Time, retrieved 2015-07-10:

Government departments advised him to seek out new business in “emerging markets”, counsel he said was risible given the huge market on Britain’s doorstep.

2022 November 15, Lisa O'Carroll, “Cheesemaker sells firm to overcome Brexit barriers after losing £600,000 in sales”, in The Guardian:

(economics, finance, also attributive) A relatively less-developed country or other trading region undergoing significant growth in production, consumption, or foreign investment.

[H]is members saw an emerging market for even more luxurious dwellings among those "who would rather pay for amenities instead of space."

1987 May 3, Andree Brooks, “Can a Town Set a Minimum House Size?”, in New York Times, retrieved 2015-07-10:

One year ago, when AOL and Time Warner first proposed their merger, . . . there was talk of monopolistic muscle in the emerging markets for high-speed Internet service, instant messaging and interactive television.

2001 January 19, “AOL Time Warner”, in Washington Post, retrieved 2015-07-10:

(economics, often followed by for) New and increasing demand or consumer purchasing activity (for a product or service).


dilutionary

"For small shareholders it is very dilutionary and they are in for a hard road ahead," he told BusinessDaily.

2009 February 6, Geoff Easdown, “Qantas shares nosedive”, in Herald Sun, archived from the original on 2009-03-19:

(economics) Related to the dilution of stocks and shares


annuitize

en-verb

annuitize (third-person singular simple present annuitizes, present participle annuitizing, simple past and past participle annuitized)

annuitizes (present singular third-person)
annuitizing (participle present)
annuitized (participle past)
annuitized (past)

(economics) To convert an annuity (or similar instrument) into a series of payments of income


ancap

en-adj

ancap (comparative more ancap, superlative most ancap)

more ancap (comparative)
most ancap (superlative)
an-cap (alternative)

Unlike its socialist forerunner, this Randian vision for smashing the state requires no interdependence, mutual aid, or renunciation of private wealth; in fact, one common ancap goal is to amass enough cash to keep the government off your back.

2022 July 8, Judy Berman, “The Anarchists Is a Messy, Gripping Anarcho-Capitalist Saga”, in Time:

(politics, economics, chiefly Internet slang) Clipping of anarcho-capitalist.


ancap

en-noun

ancap (countable and uncountable, plural ancaps)

(politics, economics, chiefly Internet slang, countable) Clipping of anarcho-capitalist.

(politics, economics, chiefly Internet slang, uncountable) Clipping of anarcho-capitalism.


agorism

/ˈæ.ɡəˌɹɪzm̩/

From Ancient Greek ἀγορά (agorá, “agora (open place for assembly and market)”) + -ism.
Coined by Samuel Edward Konkin III in his 1980 New Libertarian Manifesto.

der

Some of them are, or were, libertarians, but of a kind to make the respectably bourgeois Libertarian Party cringe - people like Samuel Edward Konkin III, whose revolutionary “agorism” or pure free-market anarchism is supposed to abolish and liberate the working class; […]

1994, Bob Black, Beneath the Underground, page 4:

(politics, economics) A revolutionary political philosophy that advocates the creation of a voluntaryist society by means of counter-economics (i.e. black market).

agorisme

philosophy that advocates the creation of a voluntaryist society through counter-economics


agorist

From Ancient Greek ἀγορά (agorá, “agora (open place for assembly and market)”) + -ist.
Coined by Samuel Edward Konkin III in his 1980 New Libertarian Manifesto.

(economics) Of, supporting, relating to, or advocating agorism.


agorist

(politics, economics) a person who advocates agorism


individualist anarchism

(politics, economics) referring to a number of anarchist schools advocating individualism, i.e., the individual's will and rights over greater society and external institutions


anarcho-individualism

individualist anarchism
individualist anarchism#English

(politics, economics) individualist anarchism


individualist anarchist

en-noun

individualist anarchist (plural individualist anarchists)

(politics, economics) A person who advocates individualist anarchism.


collectivist anarchist

collectivist anarchism
collectivist anarchism#English

(politics, economics) Of, supporting, relating to, or advocating collectivist anarchism.


collectivist anarchist

collectivist anarchist (plural collectivist anarchists)

(politics, economics) A person who advocates collectivist anarchism.


anarcho-primitivist

The American philosopher John Zerzan is considered the intellectual heavyweight for the anarcho-primitivist movement, whose adherents believe that technology enslaves us.

2018 March 4, Jamie Bartlett, “Will 2018 be the year of the neo-luddite?”, in The Guardian:

(politics, economics) Of, supporting, relating to, or advocating anarcho-primitivism.


anarcho-primitivist

The anarcho-primitives “carry a black flag in one hand and a welfare check in the other,” an anarchist named Janet Biehl wrote in a recent Internet essay.

2000 August 5, Joseph Kahn, “Anarchism, the Creed That Won't Stay Dead; The Spread of World Capitalism Resurrects a Long-Dormant Movement”, in The New York Times, →ISSN:

(politics, economics) A person who advocates anarcho-primitivism.


anarcho-naturist

(politics, economics) of, supporting, relating to, or advocating anarcho-naturism


anarcho-naturist

(politics, economics) a person who advocates anarcho-naturism


anarcho-collectivism

(politics, economics) collectivist anarchism


collectivist anarchism

private property
private property#English

(politics, economics) an anarchist philosophy advocating the abolition of the state and private property in favour of collectivism


green anarchism

(politics, economics) An anarchist school of thought that emphasizes environmental issues.


left anarchism

(politics, economics) Anarchism as contrasted with right-wing ideologies that reference anarchism, such as anarcho-capitalism.


national-anarchism

(politics, economics) A primitivist, anticapitalist, anticommunist, antistatist social philosophy emphasizing ethnic tribalism and forms of nationalism.


philosophical anarchism

individualist anarchist
individualist anarchist#English

(politics, economics) individualist anarchist school of thought holding that obeying the state lacks moral legitimacy, while purporting no violence against the state


post-anarchism

(politics, economics) Any of a number of anarchist theories emphasizing poststructuralist and postmodernist views.


queer anarchism

(politics, economics) An anarchist school of thought advocating anarchism as a means of achieving rights and liberation for queer and LGBT people (i.e. gay, lesbian, bisexual and transgender people).

queeranarkism

anarchist school of thought advocating anarchism as means of achieving rights and liberation for queer/LGBT people


veganarchism

(politics, economics) A philosophy combining anarchism and veganism, advocating animal rights through the abolition of the state.

veganarşizm

the combined philosophies of veganism and anarchism


existentialist anarchist

en-adj

existentialist anarchist (not comparable)

existentialist anarchism
existentialist anarchism#English

(politics, economics) of, supporting, relating to, or advocating existentialist anarchism


existentialist anarchist

en-noun

existentialist anarchist (plural existentialist anarchists)

(politics, economics) a person who advocates existentialist anarchism


green anarchist

(politics, economics) of, supporting, relating to, or advocating green anarchism


green anarchist

green anarchist (plural green anarchists)

(politics, economics) a person who advocates green anarchism


infoanarchist

From info + anarchist, coined in 2000 in an article in Time magazine about Ian Clarke.

It turns out that the brave new world of free-flowing information can be a bit disconcerting, even to infoanarchists.

2000 July, A. Cohen, “The Infoanarchist”, in Time, volume 155, page 47:

Infoanarchists have emerged as part of the broader copyright social conflict and copyright debate.

2012, Jesse Russell, Ronald Cohn, Infoanarchism:

This, of course, unleashed the ire of many infoanarchists and freedom-of-speech advocates, who saw the removal of the videos as a clear violation of fair use (the exception to copyright that allows people to use materials for purposes such as education, news reporting, criticism, and so on without asking for permission).

2013, Ulises Ali Mejias, Off the Network: Disrupting the Digital World:

intellectual property
intellectual property

(politics, economics) A person who opposes intellectual property and copyright.


left anarchist

(politics, economics) of, supporting, relating to, or advocating left anarchism


left anarchist

(politics, economics) a person who advocates left anarchism


philosophical anarchist

en-adj

philosophical anarchist (not comparable)

philosophical anarchism
philosophical anarchism#English

(politics, economics) of, supporting, relating to, or advocating philosophical anarchism


philosophical anarchist

en-noun

philosophical anarchist (plural philosophical anarchists)

(politics, economics) a person who advocates philosophical anarchism.


post-anarchist

(politics, economics) of, supporting, relating to, or advocating post-anarchism


post-anarchist

(politics, economics) a person who advocates post-anarchism


queer anarchist

(politics, economics) Of, supporting, relating to, or advocating queer anarchism.


queer anarchist

queer anarchist (plural queer anarchists)

(politics, economics) A person who advocates queer anarchism.


equivalisation

The equivalisation of household income furthermore does not account adequately for the opportunity costs in income experienced by other household members due to care-giving responsibilities, similar to methods which attempt to estimate the income loss attributable to productivity gaps between disabled and non-disabled people [28 ].

2015 July 22, “The Economic Lives of People with Disabilities in Vietnam”, in PLOS ONE, →DOI:

(economics) The estimation of a representative income of a household from a weighted average of those of its members.


base year

(statistics, economics) a year chosen for comparison with other years, in statistical analysis and various indices, such as a price index. It usually has an arbitrary value of 100 to make percentage comparisons easier. A new base year can be chosen as the years progress.


parafiscal

(economics) Relating to charges levied by quangos and similar semi-governmental bodies


desterilize

en-verb

desterilize (third-person singular simple present desterilizes, present participle desterilizing, simple past and past participle desterilized)

desterilizes (present singular third-person)
desterilizing (participle present)
desterilized (participle past)
desterilized (past)

(economics) To carry out a monetary process that is the reverse of sterilization.


desterilization

en-noun

desterilization (usually uncountable, plural desterilizations)

(economics) A monetary process that is the reverse of sterilization.


value added

values added (plural)
value-added (alternative)

(economics, business) The amount by which the value of an article is increased at each stage of its production, exclusive of initial costs.


value added

en-adj

value added (comparative more value added, superlative most value added)

more value added (comparative)
most value added (superlative)
value-added (alternative)

I think you'll notice that our top-end model is very value-added.

(economics, business, of goods) Having features added to a basic line or model for which the buyer is prepared to pay extra.


hyperinflate

en-verb

hyperinflate (third-person singular simple present hyperinflates, present participle hyperinflating, simple past and past participle hyperinflated)

hyperinflates (present singular third-person)
hyperinflating (participle present)
hyperinflated (participle past)
hyperinflated (past)

Both economies recklessly decide to hyperinflate their currencies.

(economics, transitive) To subject to hyperinflation.


returns to scale

(economics, idiomatic, plural only) a function describing how returns scale when production increases in the long run


maritimization

(economics) The process whereby the coastline of a country comes to play an important part in its economy.


repeg

repeg (third-person singular simple present repegs, present participle repegging, simple past and past participle repegged)

repegs (present singular third-person)
repegging (participle present)
repegged (participle past)
repegged (past)

(economics, transitive) To peg (a currency) again.


annuality

en-noun

annuality (countable and uncountable, plural annualities)

(economics) The restriction that a budget must be spent by the end of a financial year and cannot be carried over.

vuotuisuusperiaate

budget must be spent by the end of a year


catallaxy

catallaxy (countable and uncountable, plural catallaxies)

From Ancient Greek καταλλάσσω (katallássō, “to exchange”). Popularized by economist Friedrich Hayek.

der

Catallaxy is distinguished from conventional political science by its focus on the science of complex exchanges. Whereas catallaxy views politics and the political process in terms of the voluntary exchange paradigm, the focus of political science is on the nonvoluntary relationships among individuals involving power and/or coercion.

1997, Nicholas Mercuro, Steven G. Medema, Economics and the Law: From Posner to Post-modernism, Princeton University Press, →ISBN, page 95:

It would be possible to depict the catallaxy as seen from the perspective of any particular entrepreneur or enterprise. This depiction would show the main features of that enterprise's operation within the catallaxy. But that enterprise is embedded with a catallaxy of myriad other enterprises, each of which operates with a map of its relevant catallaxy that is simpler by far than the entire catallaxy.

2015, Christopher J. Coyne, Virgil Henry Storr, editors, New Thinking in Austrian Political Economy, Emerald Group Publishing, →ISBN, page 102:

A high-interaction society of collective decision making.


ISI

Since ISI had been embraced by military juntas and urban interest-groups as an alternative to the oligarchic export-economy, government planners discriminated against exports by imposing heavy duties and pouring resources into manufacturing industry in preference to agriculture.

1992, Edwin Williamson, The Penguin History of Latin America, London, New York: Penguin Books, →ISBN, page 336:

import substitution industrialization
w:import substitution industrialization

(economics) Initialism of import substitution industrialization.


taxational

Of all Thatcher and Reagan’s visions, this might be the one that has enjoyed the greatest popular buy-in: the notion that humanity progresses through innovation; innovation is a function of the brilliance of the individual; individuals can only fulfil their potential with personal freedom; and the state, in all its guises, whether regulatory or taxational, is the main barrier to that freedom.

2015 November 23, Zoe Williams, “The future’s at stake: the left must show it could create an iPad”, in The Guardian:


regional economics

A sub-discipline of economics that examines economic theories and policies particular to specific regions.


applied economics

The application of economic theory and econometrics in specific settings.

應用經濟學 /应用经济学

application of economics theory and econometrics in specific settings


uberize

en-verb

uberize (third-person singular simple present uberizes, present participle uberizing, simple past and past participle uberized)

uberizes (present singular third-person)
uberizing (participle present)
uberized (participle past)
uberized (past)
uberise (alternative)

From Uber + -ize. From the brand of the company Uber, which disrupted the taxicab industry by creating a business model allowing private drivers to be paid for providing a similar service.

Participate in any of today's industry conferences or university business courses, and you will likely hear at least one individual who affirms that they have invented, or conceptually designed, a platform that will “uberize” industry X, Y, or Z.

2017, Loick Menvielle, The Digitization of Healthcare: New Challenges and Opportunities:

New gangs ‘Uberise’ Europe's cocaine supply and bring more violence [title]

2018 December 14, “New gangs 'Uberise' Europe's cocaine supply and bring more violence”, in The Guardian:

To be active in the twenty-first century revolution and avoid being “Uberized”, lawyers must revolutionize their thinking modes and practices to have the capacity to innovate.

2021, Antoine Masson, Gavin Robinson, editors, Mapping Legal Innovation: Trends and Perspectives, Springer Nature, →ISBN, page 65:

(economics) To introduce a platform to an existing market or industry that provides direct transactions between sellers and buyers, often using mobile technology.


creditism

en-noun

creditism (countable and uncountable, plural creditisms)

(economics, uncountable) A socio-economic system associated with capitalism but distinguished from it due to wealth being loaned out rather than being invested.

(macroeconomics) A theory that the quantity of credit is a more important financial indicator for central banks to use to govern the economy than the money supply or interest rates.


downflex

There is no downward flexibility in expenditure and credit levels. But outputs and supplies are downflex.

1974, Seshadriyengar Lakshmi Nara Simha, Inflation in India, page 77:

If the real wage rate is not downflex, the pace of adoption of technical change depends upon the elasticity in the savings supply schedule.

1976, Vadilal Dagli, Financial Institutions of India, page 49:

(economics) Showing flexibility in a downward direction.


MINT

(economics) Acronym of Mexico, Indonesia, Nigeria, Turkey.


milkshed

From milk + shed, by analogy with watershed.

Counties adjoining a large city tended to supply most of its milk before highway and trucking improvements broadened the milkshed.

(agriculture, economics) A region producing milk that may be supplied to the area of demand with practical (competitively advantageous) speed and cost of transport.


Minskyan

en-adj

Minskyan (comparative more Minskyan, superlative most Minskyan)

more Minskyan (comparative)
most Minskyan (superlative)
Minskian (alternative)

(economics) Of or pertaining to Hyman Minsky (1919–1996), American economist.


Minskyan

Minskyans (plural)
Minskian (alternative)

(economics) A proponent of the economic theories of Hyman Minsky.


chiconomics

(economics) The struggle to appear chic on a budget


bleakonomics

(economics) The struggle to maintain a reasonable lifestyle during a time of bleak economics.


company-specific

company-specific (comparative more company-specific, superlative most company-specific)

more company-specific (comparative)
most company-specific (superlative)


LTV

en-noun

LTV (countable and uncountable, plural LTVs)

labor theory of value
labor theory of value#English

(economics, political science) Initialism of labor theory of value.


sukuk

Borrowed from Arabic صُكُوك (ṣukūk), plural of صَكّ (ṣakk, “bond, deed”).

(Islam, economics) A bond that generates a return to an investor without infringing Islamic laws against interest.


prerefunded

Only now are they looking to invest in safe assets, like prerefunded bonds secured by United States government obligations.

2009 September 19, Paul Sullivan, “Now Even Millionaires Can See the Benefits of Budgeting”, in New York Times:

(economics, of a bond) That the issuer agrees, in advance, to buy back before its scheduled maturity date


microfoundation

But whether such microfoundations are necessary at all is not entirely clear.

2015 October 24, “Learning What to Want: Context-Sensitive Preference Learning”, in PLOS ONE, →DOI:

(economics) A microeconomic foundation for a macroeconomic theory or system


microfoundations

(economics, plural and singular) A macroeconomic methodology of basing macroeconomic models and theories on microeconomic processes.


microfounded

Thus, we believe this work can serve as a mathematical basis for the development of a new generation of adaptive microfounded economic models.


counter-economics

The term was first used by Samuel Edward Konkin III and J. Neil Schulman who are libertarian theorists, and was coined as part of their agorism doctrine. It is short for "counter-establishment economics"; equivalent to counter- + economics.

(economics) The study or practice of all peaceful human action which is forbidden by the State.


central planning

(economics) A mechanism for allocating resources centrally, as opposed to leaving it up to the free market.

κεντρικός σχεδιασμός

mechanism for centrally allocating resources


AI winter

By analogy to the idea of a nuclear winter.

A lot of people are talking about — actually have been talking about — a particular scenario of the artificial intelligence industry known as the "AI Winter."

Their products offered little business value at the time, and so the commercial enthusiasm ended in disappointment, leading to a period now referred to as the “A.I. Winter.”

2016 July 17, John Markoff, “Artificial Intelligence Swarms Silicon Valley on Wings and Wheels”, in The New York Times, →ISSN:

artificial intelligence
artificial intelligence

(artificial intelligence, economics) A period of reduced funding and interest in artificial intelligence research.


price war

A situation where commercial competitors repeatedly undercut each other's prices in order to attract buyers.


natural economy

natural economy (plural natural economies)

(economics) An economy in which money is not used in the transfer of resources among people.


uberisation

While commentators deplored the thuggery of some cabdrivers, they deplored “L’uberisation” even more. “The uberisation of the economy is a godless and lawless development model,” wrote Jean-Michel Bouguereau in La République des Pyrénées.

2015 July 4, Maureen Dowd, “Paris When It Sizzles”, in The New York Times, →ISSN:

A new network of banks should fund “co-operatively owned Ubers and Airbnbs” to take on the giants of the gig economy and stop the “Uberisation” of the workplace, the shadow chancellor, John McDonnell, has said.

2017 February 17, Jessica Elgot, quoting John McDonnell, “John McDonnell: We must stop 'Uberisation' of the workplace”, in The Guardian:

Uberization affects much more than taxis and health insurance: it is pervasive throughout the economy and very real to detergent companies and tax authorities alike.

2018, David Dunne, Design Thinking at Work, University of Toronto Press, →ISBN, page 96:


uberization

From Uber + -ization. From the brand name Uber, referring to a decentralized ridesharing service.

(business, commerce) The transformation of an existing industry or economy with the help of computing platforms, especially mobile applications, and temporary employment schemes.

uberització

utilisation of data platforms to bypass centrally planned corporations


free-rider problem

(economics) The situation where those who benefit from goods or resources do not pay for them, resulting in a lack of funding and subsequent underprovision.


no-growther

(economics) One who supports the idea of a no-growth economy.


overshift

en-verb

overshift (third-person singular simple present overshifts, present participle overshifting, simple past and past participle overshifted)

overshifts (present singular third-person)
overshifting (participle present)
overshifted (participle past)
overshifted (past)

/ˈəʊvə(ɹ)ˌʃɪft/

/ˌəʊvə(ɹ)ˈʃɪft/

Concavity of demand leads to undershifting and sufficient convexity to overshifting.

1995, Gareth D. Myles, Public Economics, →ISBN, page 363:

However, according to Kay and Keen (1991), neither undershifting of both taxes, nor overshifting of both, is a plausible scenario under the quality model.

2003, Public Relations Review: A Journal of Research and Comment:

Whether this indirect effect causes an overshifting or undershifting of price depends upon the level of spillovers.

2007, Patrick W. Barnes, Economic Perspectives on Innovation and Invention, →ISBN, page 34:

(economics) To raise the price to consumers by more than an underlying cost increase that results from rising taxes.


undershift

undershift (third-person singular simple present undershifts, present participle undershifting, simple past and past participle undershifted)

undershifts (present singular third-person)
undershifting (participle present)
undershifted (participle past)
undershifted (past)

With a linear demand curve, 0 η =, the monopolist always undershifts the tax, as shown in the first part of Figure 3.2.

2007, Essays on Taxation, →ISBN, page 59:

(economics) To raise the price to consumers by less than an underlying cost increase that results from rising taxes.


Fedwire

(US, economics) The Federal Reserve Wire Network, a real-time gross settlement funds transfer system operated by the US Federal Reserve Banks.


FedACH

(US, economics) Abbreviation of Federal Reserve Banks' Automated Clearing House.


quinary sector

(economics) The branch of a country's economy where high-level decisions are made by top-level executives in government, industry, education, etc.


austerian

en-adj

austerian (comparative more austerian, superlative most austerian)

more austerian (comparative)
most austerian (superlative)

(economics) Relating to, or supporting, fiscal conservatism and austerity.


austerian

(economics) A supporter of fiscal conservatism and austerity.


slumpflation

(economics) Inflation accompanied by a slump in output and employment.


soft money

en-noun

soft money (usually uncountable, plural soft moneys)

(economics) A currency not fully backed by specie.


Rothbardianism

(politics, economics) The political and/or economic philosophy championed by Murray N. Rothbard.


white market

(economics) The legal, official, or intended market for goods and services, distinguished from the black market and grey market.


degression

degression (countable and uncountable, plural degressions)

From Latin degressio, from degressus + -io (“forming abstract nouns from verbs”), past perfect participle of degredi (“to descend by steps”), from de- (“down”) + gradi (“to step, walk, go”).

Graduated taxation therefore technically includes progression, degression, and regression.

1896, R.H.I. Palgrave, Dictionary of Political Economy, volume II, page 244:

(economics) Degressive taxation, a system of progressive decreases in a rate of taxation (as tariffs etc.) below certain benchmarks.


magic asterisk

Coined by Howard Henry Baker Jr., from the Reagan administration's use in 1981 of asterisks as placeholders for cuts yet to be decided in government spending.

The other technique, known as the "magic asterisk," consisted of hiding phony cuts in the small print of various budget documents in order to exaggerate the Administration's success in spending reduction and to minimize the projected deficit.

1986 May 11, Michael Kinsley, “IN THE LAND OF THE MAGIC ASTERISK”, in New York Times:

Howard Baker, then a Senator, had dubbed them the "magic asterisk," for it was blithely assumed that they would be taken care of at a later date.

1991, Wallace C. Peterson, Transfer Spending, Taxes, and the American Welfare State, Kluwer Academic Publishers, section 99:

"They have a magic asterisk," Hoyer said.
The magic asterisk: The words alone are enough to strike fear into the hearts of grizzled veterans of the budget wars.

2015 March 17, Max Ehrenfreund, “House Republican budget: There’s a mysterious $1.1 trillion in spending cuts in the House GOP’s budget”, in Washington Post:

(idiomatic, politics, economics) an unspecified future budget cut, especially an imaginary cut.


PPF

production–possibility frontier
w:production–possibility frontier

(economics) Initialism of production–possibility frontier.


Great Moderation

(economics) A reduction in the volatility of business cycle fluctuations starting in the mid-1980s.


Easterlin paradox

Named for the economist Richard Easterlin, who discussed the factors contributing to happiness in a 1974 book chapter.

(economics) The apparently paradoxical observation that people's reported happiness varies directly with income both among and within nations, but over time happiness does not trend upward as income continues to grow.


zero lower bound

zero lower bound (plural zero lower bounds)

(economics) A situation where nominal interest rates are close or equal to zero.


gig economy

But suddenly, the debate has imploded; the gig economy may be a myth. A new survey by the Bureau of Labor Statistics found that, in 2017, the share of workers in “alternative employment arrangements” (gig jobs and other) was 10.1 percent of total employment, almost exactly what it was in 2005 (10.7 percent) and 1995 (9.9 percent).

2018 June 17, Robert J. Samuelson, “Is the gig economy a myth?”, in The Washington Post:

Second, there is the precariat. These are the young and educated voters caught in the gig economy, who see no career security ahead.

2019 December 13, David Brooks, “The Politics of Exhaustion”, in The New York Times, →ISSN:

California legislators approved a landmark bill on Tuesday that requires companies like Uber and Lyft to treat contract workers as employees, a move that could reshape the gig economy and that adds fuel to a yearslong debate over whether the nature of work has become too insecure.

2019 September 11, Kate Conger, Noam Scheiber, “California Bill Makes App-Based Companies Treat Workers as Employees”, in The New York Times:

(economics) That part of the economy consisting of people who work in a transient, contract or self-employed capacity, as opposed to being permanent employees of a business.


circular economy

circular economy (plural circular economies)

(economics) An industrial economy that aims to reduce waste and pollution by means of reuse, recycling, etc.


shrinkflation

Blend of shrink + inflation. Popularized by British economist Pippa Malmgren.

Chocolate bars are just the thin end of the wedge, though, and shrinkflation is happening in products right across the board.

2016, Andy Dawson, Get in the Sea!: An Apoplectic Guide to Modern Life, page 106:

According to the UK Office for National Statistics (ONS), shrinkflation most commonly affects food, drink and household products such as toilet rolls, nappies, tissues and washing-up liquid.

2021, Rosalind Masterson, Nichola Phillips, David Pickton, Marketing: An Introduction, page 489:

Major cereal brand Kelloggs has also been accused of shrinkflation. Since 2019, the company had moved from selling 670 gram Crunchy Nut boxes for $6 to selling 640 gram boxes at $9 a pop, Choice found.

2022 May 18, Caitlin Cassidy, “Shrinkflation bites: popular food brands quietly downsize while charging same price or more”, in The Guardian:

Consumer groups say shrinkflation is a widespread practice, which supermarkets like Carrefour are also guilty of in their own-label products.

2023 September 14, “Carrefour puts ‘shrinkflation’ price warnings on food to shame brands”, in The Guardian, sourced from Reuters, →ISSN:

(economics, informal, neologism) The practice of making products smaller while continuing to market them at the same price.


social insurance

social insurance (countable and uncountable, plural social insurances)

Panama unified all social insurances in the 1970s and began a process of integration with the public sector that was later halted.

2008, Carmelo Mesa-Lago, Reassembling Social Security: A Survey of Pensions and Health Care, →ISBN, page 236:

Historical, cultural and institutional attributes influenced Scandinavian political choices for social insurance institutions and welfare policies at the time of the Bismarckian 'conception' of national social insurance on a grand scale in the 1880s.

2013, Maurizio Ferrera, Martin Rhodes, Recasting European Welfare States, →ISBN, page 209:

By 1942, Beveridge had been an advocate of social insurance for more than thirty years.

2014, Karel Williams, John Williams, A Beveridge Reader, →ISBN, page 72:

The original Social Security Act (1935) and the current version of the Act, as amended, encompass several social welfare and social insurance programs.

2016, Stanley L. Brue, Essentials of Economics, →ISBN:

Government-mandated provision for the unemployed, injured, or aged, typically funded by a combination of government spending, individual contributions, and employer contributions.


VoT

(economics) Initialism of value of time (“the opportunity cost of the time that a traveller spends on his/her journey”).


Bretton Woods

(economics): Formulated at a 1944 conference at the Mount Washington Hotel in Bretton Woods, New Hampshire, United States.

(economics) A fixed exchange rate system in which the dollar was convertible to gold and all other participating currencies were pegged to the dollar.


economic terrorism

An attempt to coax or force a person or group into doing something by threatening them economically or by the destruction of economic systems.


regulatory capture

regulatory capture (countable and uncountable, plural regulatory captures)

First described in The Theory of Economic Regulation (1971).

This process, known as “'regulatory capture,” turns regulators from watchdogs into lapdogs. You don't have to look far to see regulatory capture in action. Securities and Exchange Commission officials are often accused of ignoring warnings about fraud, stifling investigations, even helping miscreants avoid paying big fines or going to jail.

2014, Charles Seife, “Capture”, in John Brockman, editor, What Should We Be Worried About?, Harper Collins, →ISBN, page 36:

The problem is regulatory capture. We need to want new companies to build these things, even if incumbents don’t like it, even if only to force the incumbents to build these things. And the problem is will. We need to build these things.

2022 August 5, Jerusalem Demsas, quoting Marc Andreessen, “The Billionaire’s Dilemma”, in The Atlantic:

special interest group
special interest group

The situation where a regulatory agency, created by government to act in the public interest, instead advances the commercial or political concerns of special interest groups that dominate the affected industry or sector.


spending power

Bad loans on bank balance sheets reflect that millions of people have lost jobs, eliminating spending power, while companies have seen sales evaporate.

2016, Peter S. Goodman, “Italy Just Handed the Global Economy Another Giant Variable”, in The New York Times:

(economics) The income available to households for spending.


treeconomics

(neologism) The economics of trees or forestry.


economic liberalism

economic liberalism (countable and uncountable, plural economic liberalisms)

The ideological belief in organising the economy on individual lines in such a way as to have the greatest possible number of economic decisions made by individuals or households and not by collective institutions or organisations.


liquidity trap

(economics, in particular New Keynesian economics) circumstance when nominal interest rates are near or at zero and circulating additional money doesn't lower interest rates.


developing country

developing country (plural developing countries)

Near-synonym: LMIC

(economics) A country with low to medium income although substantial industrialization; (sometimes derogatory) a country with less industrial base, and thus often consequently widespread poverty and low Human Development Index (HDI).