GDP

Economics is a messy discipline: too fluid to be a science, too rigorous to be an art. Perhaps it is fitting that economists’ most-used metric, gross domestic product (GDP), is a tangle too. GDP measures the total value of output in an economic territory. Its apparent simplicity explains why it is scrutinised down to tenths of a percentage point every month.

2013 August 3, “Boundary problems”, in The Economist, volume 408, number 8847:

Or take Wikipedia. Supported by investments of time rather than money, it has left the old Encyclopedia Britannica in the dust – and taken the GDP down a few notches in the process.

2017, Rutger Bregman, chapter 5, in Elizabeth Manton, transl., Utopia for Realists, Kindle edition, Bloomsbury Publishing, page 104:

Global GDP is projected to grow by 3.1% this year, and by just 2.2% in 2023, according to the latest forecast from the Organization for Economic Cooperation and Development (OECD).

2022 November 22, Hanna Ziady, “If the world avoids a recession, it’ll have India and China to thank”, in CNN:

gross domestic product
gross domestic product#English

(economics) Initialism of gross domestic product.

BBP

gross domestic product — see also gross domestic product


trade

en-noun

trade (countable and uncountable, plural trades)

From Middle English trade (“path, course of conduct”), introduced into English by Hanseatic merchants, from Middle Low German trade (“track, course”), from Old Saxon trada (“spoor, track”), from Proto-Germanic *tradō (“track, way”), and cognate with Old English tredan (“to tread”); ultimately from Proto-Indo-European *dreh₂- (“to tread, walk, step, run”).

der

After failing his entrance exams, he decided to go into a trade.

Most veterans went into trade when the war ended.

Subsequently some Scottish troops settled, took up trade as weavers, tailors, or mariners, and married Dutch women.

2007, Michael Lynch, The Oxford Companion to Scottish History, USA: Oxford University Press, →ISBN, page 228:

Getting a job in your major is no breeze: Remember we made fun of those who took up a trade

2012, Liberty Carrington, Wide Eyes Closed, AuthorHouse, →ISBN, page 92:

(countable or uncountable) An occupation in the secondary sector, as opposed to an agricultural, professional or military one.


merchandise

en-noun

merchandise (usually uncountable, plural merchandises)

merchandises (plural)
merchandize (alternative)
merchaundise (alternative)
merchaundize (alternative)
mdse (alternative)

From Middle English marchaundise (“commerce, trading; buying; business transaction, deal; merchandise, goods, wares; possessions”), from Anglo-Norman marchaundise and Old French marcheandise (modern French marchandise), from Old French marcheant (“seller, vendor”) (ultimately from Latin mercātus (“buying and selling, trade, traffic; market; marketplace”), possibly originally Etruscan) + -ise (suffix forming feminine nouns, often denoting a quality or state). The English word is analysable as merchant + -ise.

der

Good business depends on having good merchandise.

So, if a Sonne that is by his Father ſent about Merchandize, doe ſinfully miſcarry vpon the Sea; the imputation of his vvickedneſſe, by your rule, ſhould be impoſed vpon his Father that ſent him: […]

1599 (date written), William Shakespeare, “The Life of Henry the Fift”, in Mr. William Shakespeares Comedies, Histories, & Tragedies […] (First Folio), London: […] Isaac Iaggard, and Ed[ward] Blount, published 1623, →OCLC, [Act IV, scene i], page 84, column 2:

The custom of giving away merchandise for advertising purposes is greatly on the increase in this country. More goods are now distributed in one year as advertising novelties and as premiums than in a decade 10 or 15 years ago.

1908, Great Britain. Parliament. House of Commons, Sessional papers. Inventory control record 1, page 29:

It has been stated that Fred Beers is giving free merchandise to this store and I believe you will find that one of your inspectors obtained a bottle of milk free when he purchased some groceries on Thursday Nov. 23rd [1933].

1936, Cecil Day Lewis, The Whispering Roots, Jonathan Cape, page 175:

(uncountable) Goods which are or were offered or intended for sale.


foreign debt

en-noun

foreign debt (usually uncountable, plural foreign debts)

(uncountable, economics) An aggregate amount of such debts.


domestic debt

domestic debt (countable and uncountable, plural domestic debts)

(economics) debt owed to creditors resident in the same country as the debtor

內債 /内债

debt owed to creditors resident in the same country as debtor


growth

growth (countable and uncountable, plural growths)

From grow + -th (abstract nominal suffix). Compare Old Frisian grēd ("meadow, pasture"; > North Frisian greyde (“growth, pasture”)), Middle High German gruote, gruot (“greens, fresh growth, shoot”), Old Norse gróðr ("growth, crop"; > Faroese grøði, Danish grøde (“fruits”), Swedish gröda (“crop, harvest”)). More at grow.

gloss

"meadow, pasture"; > North Frisian <i class="Latn mention" lang="frr">greyde</i> (“growth, pasture”)

Growth was dampened by a softening of the global economy in 2001, but picked up in the subsequent years due to strong growth in China.

Private-equity nabobs bristle at being dubbed mere financiers.[…]Much of their pleading is public-relations bluster. Clever financial ploys are what have made billionaires of the industry’s veterans. “Operational improvement” in a portfolio company has often meant little more than promising colossal bonuses to sitting chief executives if they meet ambitious growth targets. That model is still prevalent today.

2013 June 22, “Engineers of a different kind”, in The Economist, volume 407, number 8841, page 70:

Liz Truss has promised Britons she has “got your back” and set out a plan for “growth, growth and growth” in a conference speech disrupted by protesters asking who voted for her plan.

2022 October 5, Rowena Mason, quoting Liz Truss, “Liz Truss promises ‘growth, growth and growth’ in protest-hit speech”, in The Guardian:

(economics) Ellipsis of economic growth.


dollarization

/dɑləɹɪˈzeɪ̯ʃɪn/

“Many emerging-market economies have tried a number of technical devices: the fixed rate peg, varieties of crawling peg, currency boards and even dollarization,” Mr. Greenspan said in a recent speech. “The success has been mixed. Where successful, they have been backed by sound policies.”

1999 January 2, Joseph Kahn, quoting Alan Greenspan, “Era May End For Floating Currencies”, in The New York Times, →ISSN:

Making dollarisation work requires structural reform, something President Noboa has failed to achieve. Ecuador's businesses are struggling against high costs. The public finances face a shortfall. A new agreement with the IMF has proved elusive. Neither candidate says he would scrap the dollar, but neither says much about reform.

2002 October 26, “New faces of Andean politics”, in The Economist, U.S. edition:

(economics) The process of a country, officially, or its residents, unofficially, adopting the US dollar or other foreign currency in parallel to or instead of the domestic currency.

دَوْلَرَة

the process of a country adopting the US dollar as its primary currency


point

en-noun

point (countable and uncountable, plural points)

→ Cantonese: point

→ Indonesian: poin

→ Japanese: ポイント (pointo)

→ Korean: 포인트 (pointeu)

→ Malay: poin

From Middle English poynt, from Old French point m (“dot; minute amount”), from Latin pūnctum (“a hole punched in; a point, puncture”), substantive use of pūnctus m, perfect passive participle of pungō (“I prick, punch”) (ultimately from Proto-Indo-European *pewǵ- (“prick, punch”)); alternatively, from Old French pointe f (“sharp tip”), from Latin pūncta f (past participle). Mostly displaced native Middle English ord (“point”), from Old English ord (“point”). Doublet of pointe, ponto, puncto, punctum, punt, and punto.

kärki

position at the front or vanguard of an advancing force

decimal point

not used when reading decimal fractions aloud

A small discrete division or individual feature of something.

(economics) A unit used to express differences in prices of stocks and shares.


tighten

en-verb

tighten (third-person singular simple present tightens, present participle tightening, simple past and past participle tightened)

tightens (present singular third-person)
tightening (participle present)
tightened (participle past)
tightened (past)

Synchronically equivalent to tight + -en. From Middle English tighten, from Old English tyhtan, thus originally unrelated to tight (Old English *þiht).

If the government doesn't tighten the money supply, inflation is certain to be harsh.

(economics) To make money harder to borrow or obtain.

The Fed is expected to tighten by a quarter-point.

(economics) To raise short-term interest rates.


EU

France and Belgium led the drive for British chocolate to be renamed 'vegelate' before it could be sold abroad, but they lost that battle. Now an updated EU chocolate directive obliges all EU countries to accept all chocolate[…]

2005, John MacDonald, Andrew Bowden, Dare We Trust Them?: A New Vision for Europe, page 151:

The sprinkles had the red food coloring E127, or erythrosine. E127 is only permitted for use in cocktail cherries and candied cherries in the UK and the EU, according to a statement from West Yorkshire Trading Standards sent to CNN Thursday.

2021 October 14, Jack Guy, “UK bakery banned from using sprinkles which are legal in the US”, in CNN:

(politics, economics) Initialism of European Union.

European Union — see also European Union, EUSSR


inflation

en-noun

inflation (countable and uncountable, plural inflations)

From Middle English, borrowed from Old French inflation (“swelling”), from Latin īnflātiō (“expansion", "blowing up”), from īnflātus, the perfect passive participle of īnflō (“blow into, expand”), from in (“into”) + flō (“blow”). By surface analysis, inflate + -ion.

der

(economics) An increase in the quantity of money, leading to a devaluation of existing money.

inflationäre Geldvermehrung

Due to inflation, the monthly gym fee is rising by 10% from January.

(economics) An increase in the general level of prices or in the cost of living.

inflacion

(economics) A decline in the value of money.


core inflation

en-noun

core inflation (usually uncountable, plural core inflations)

So-called core inflation is still rising. Signs of everyday decay – suddenly reduced postal services, the dependably dire state of public transport, local councils hitting the financial skids – are everywhere.

2023 June 25, John Harris, “Britain is used to crises now. But this widespread hopelessness is new – and frightening”, in The Guardian, →ISSN:

(economics) Inflation excluding the increase or decrease of prices in some transitory sectors (usually food and energy).

核心通貨膨脹 /核心通货膨胀

inflation excluding the increase or decrease of prices in some sectors

(economics, in the Eurozone) Inflation excluding energy, food, alcohol and tobacco prices.

核心通貨膨脹 /核心通货膨胀

Eurozone: inflation excluding energy, food, alcohol and tobacco prices


stickiness

stickiness (usually uncountable, plural stickinesses)

(economics): Of prices or wages: the tendency to stay the same despite changes in the economy.


unemployment

unemployment (countable and uncountable, plural unemployments)

All unemployments, seasonal, frictional, cyclical, classical, whatever, mean that you're out of work.

(countable) A type of joblessness due to a particular economic mechanism.


market

→ Bengali: মার্কেট (markeṭ)

→ Hindi: मार्केट (mārkeṭ)

→ Japanese: マーケット (māketto)

→ Korean: 마켓 (maket)

desc

→ Odia: ମାର୍କେଟ୍ (mārkeṭ)

→ Odia: ମାର୍କେଟ୍ (mārkeṭ)

→ Persian: (Dari) مارکیت (mârkêt)

→ Turkish: market

→ Urdu: مارکیٹ (markeṭ)

From Middle English market, from late Old English market (“market”) and Anglo-Norman markiet (Old French marchié); both ultimately from Latin mercātus (“trade, market”), from mercor (“I trade, deal in, buy”), itself derived from merx (“wares, merchandise”). Cognate with West Frisian merk, Dutch markt, Old High German Markt.

Foreign markets were lost as our currency rose versus their valuta.

A geographical area or region where a certain commercial demand exists.

շուկա

geographical area where a commercial demand exists

The stock market ceased to be monopolized by the paper-shuffling national stock exchanges with the advent of Internet markets.

As they were approaching bankruptcy from being knocked out of the calculator market, they began development on the first commercially available microcomputer, the Altair.

If the takeover is approved, Comcast would control 20 of the top 25 cable markets, […]. Antitrust officials will need to consider Comcast’s status as a monopsony (a buyer with disproportionate power), when it comes to negotiations with programmers, whose channels it pays to carry.

2014 March 15, “Turn it off”, in The Economist, volume 410, number 8878:

en:particular system for trading in certain goods

A formally organized, sometimes monopolistic, system of trading in specified goods or effects.

баҙар

formally organized system of trading in specified goods or effects


market

en-verb

market (third-person singular simple present markets, present participle marketing, simple past and past participle marketed)

markets (present singular third-person)
marketing (participle present)
marketed (participle past)
marketed (past)

We plan to market an ecology model by next quarter.

(transitive) To make (products or services) available for sale and promote them.

(intransitive) To deal in a market; to buy or sell; to make bargains for provisions or goods.


trade deficit

(economics) A negative balance of trade.


index

en-noun

index (plural indexes or indices or (obsolete, in use in the 17th century) index's)

indexes (plural)
indices (plural)
index's (obsolete plural)

⇒ Chinese: 引得 (yǐndé)

→ Japanese: インデックス (indekkusu)

From Latin index (“a discoverer, informer, spy; of things, an indicator, the forefinger, a title, superscription”), from indicō (“point out, show”); see indicate.

der

(economics) A single number calculated from an array of prices or of quantities.

индекс

economics: single number calculated from an array of prices or quantities


index

en-verb

index (third-person singular simple present indexes, present participle indexing, simple past and past participle indexed)

indexes (present singular third-person)
indexing (participle present)
indexed (participle past)
indexed (past)

(chiefly economics) To normalise in order to account for inflation; to correct for inflation by linking to a price index in order to maintain real levels.


boom

→ German: Boom

Indonesian: bum

→ Japanese: ブーム (būmu)

→ Polish: boom

→ Russian: бум (bum)

Onomatopoeic, perhaps borrowed; compare German bummen, Dutch bommen (“to hum, buzz”). The sense "a period of economic growth" is generally taken to derive from the sense "a rapid expansion", although other origins have also been suggested.

(economics, business) A period of prosperity, growth, progress, or high market activity.


gross domestic product

en-noun

gross domestic product (usually uncountable, plural gross domestic products)

LL-Q1860 (eng)-Flame, not lame-gross domestic product.wav

Economics is a messy discipline: too fluid to be a science, too rigorous to be an art. Perhaps it is fitting that economists’ most-used metric, gross domestic product (GDP), is a tangle too. GDP measures the total value of output in an economic territory. Its apparent simplicity explains why it is scrutinised down to tenths of a percentage point every month.

(economics) A measure of the economic production of a particular territory in financial capital terms over a specific time period.

国内総生産

(こくないそうせいさん, kokunai-sōseisan), ＧＤＰ (ＧＤＰ)

gurun dorgi -i aramtucibuhe uheri saligan

ᡤᡠᠷᡠᠨ ᡩᠣᠷᡤᡞ ᡞ ᠠᠷᠠᠮᡨᡠᠴᡞᠪᡠᡥᡝ ᡠᡥᡝᠷᡞ ᠰᠠᠯᡞᡤᠠᠨ


merger

From Anglo-Norman merger (verb used as noun).

-ɜː(ɹ)dʒə(ɹ)

(economics) The legal union of two or more corporations into a single entity, typically assets and liabilities being assumed by the buying party.

միաձուլում

the legal union of two or more corporations


bad

From Middle English bad, badde (“wicked, evil, depraved”), of uncertain origin. Perhaps a shortening of Old English bæddel (“hermaphrodite”) (for loss of -el compare Middle English muche from Old English myċel, and Middle English wenche from Old English wenċel), or at least related to it and/or to bǣ̆dan (“to defile”), compare Old High German pad (“hermaphrodite”).
Alternatively, perhaps a loan from Old Norse into Middle English, compare Norwegian bad (“effort, trouble, fear”, neuter noun), East Danish bad (“damage, destruction, fight”, neuter noun), from the Proto-Germanic noun *badą, whence also Proto-Germanic *badōną (“to frighten”), Old Saxon undarbadōn (“to frighten”), Norwegian Nynorsk bada (“to weigh down, press”); ultimately from Proto-Indo-European *bʰedʰ- (“to bend, press, push, oppress”).

unk

uncertain

der

æ-tensing, New York City, New Orleans, Philadelphia, Baltimore

Imports are an economic good but exports an economic bad. Exports must be produced but are enjoyed by foreign consumers.

2011, Henry Thompson, International Economics: Global Markets and Competition, 3rd edition, World Scientific, page 97:

An economic bad is anything that you would pay to get rid of. It is not so hard to think of examples of bads: pollution, garbage, and disease fit the description.

2011, William J. Boyes, Michael Melvin, Economics, 9th edition, Cengage Learning, page 4:

(countable, uncountable, economics) An item (or kind of item) of merchandise with negative value; an unwanted good.


capital

en-noun

capital (countable and uncountable, plural capitals)

capitals (plural)
capitall (alternative obsolete)

From Middle English capital, borrowed partly from Old French capital and partly from Latin capitālis (“of the head”) (in sense “head of cattle”), from caput (“head”) (English cap) + -ālis (suffix forming adjectives). Use in trade and finance originated in Medieval economies when a common but expensive transaction involved trading heads of cattle. The noun is from the adjective.
Compare chattel and kith and kine (“all one’s possessions”), which also use “cow” to mean “property”.
Doublet of cattle and chattel.

[ˈkʰæp.ɪ.ɾɫ̩]

factor of production
factor of production

(uncountable, economics) Already-produced durable goods available for use as a factor of production, such as steam shovels (equipment) and office buildings (structures).


turnpike

From Middle English turnpyke (“spiked barrier across a road”), originally used to block access to such a road until toll was paid. Equivalent to modern turn + pike (“shaft”).

inh

In the monograph we discuss a number of results concerning turnpike properties in the calculus of variations and optimal control which were obtained by the author in the last ten years.

2006, Alexander J. Zaslavski, Turnpike Properties in the Calculus of Variations and Optimal Control, →ISBN:

(mathematical economics) A trajectory on a finite time interval that satisfies an optimality criterion which is associated with a cost function.


velocity

en-noun

velocity (countable and uncountable, plural velocities)

From Middle French vélocité, from Latin vēlōcitās (“speed”), from vēlōx (“fast”), thus a doublet of veloce.

(economics) The number of times that an average unit of currency is spent during a specific period of time.

ско́рость

обращения денег


bust

From Middle English busten, a variant of Middle English bursten, bresten (“to burst”). Compare German Low German basten and barsten (“to burst”). More at burst.

(economics) The downward portion of a boom and bust cycle; a recession.


contraction

contraction (countable and uncountable, plural contractions)

PIE word
 *ḱóm
From Late Middle English contraccioun, contraxion (“spasm, contraction; constriction, shrinking; act of pressing together”), from Old French contraction (modern French contraction), from Latin contractiō(n) (“a drawing together, contraction; abridgement, shortening; dejection, despondency”), from contrahō (“to draw things together, assemble, collect, gather; to enter into a contract”) + -tiō(n) (suffix forming nouns relating to actions or their results). Contrahō is derived from con- (prefix denoting a bringing together of objects) + trahō (“to drag, pull”) (probably from Proto-Indo-European *dʰregʰ- (“to drag, pull; to run”)). By surface analysis, contract + -ion (suffix denoting actions or processes, or their results).

verkleining

The country’s economic contraction was caused by high oil prices.

Senses relating to pulling together or shortening.

A (sometimes reversible) contracting or reduction in length, scope, size, or volume; a narrowing, a shortening, a shrinking.

(economics) A period of economic decline or negative growth.


factor

factors (plural)
factour (alternative archaic)

From Middle French facteur, from Latin factor (“a doer, maker, performer”), from factus (“done or made”), perfect passive participle of faciō (“do, make”).

uder

incremental power transfer distribution factor

granulocyte-macrophage colony-stimulating factor receptor

The ability to shift profits to low-tax countries by locating intellectual property in them[…]is often assumed to be the preserve of high-tech companies.[…]current tax rules make it easy for all sorts of firms to generate[…]“stateless income”: profit subject to tax in a jurisdiction that is neither the location of the factors of production that generate the income nor where the parent firm is domiciled.

2013 June 22, “T time”, in The Economist, volume 407, number 8841, page 68:

(economics) A resource used in the production of goods or services, a factor of production.


industrial output

en-noun

industrial output (countable and uncountable, plural industrial outputs)

(economics, accounting) What an industry produces, as a national total.


bubble

Partly imitative, also influenced by burble. Compare Middle Dutch bobbe (“bubble”) > Dutch bubbel (“bubble”), Low German bubbel (“bubble”), Danish boble (“bubble”), Swedish bubbla (“bubble”). The word was first used in its economic sense in association with the collapse of the South Sea Company in 1720, based on the metaphor of an inflated soap bubble bursting.

onom

imitative

real estate bubble

dot-com bubble

Thanks to the proliferation of semiconductor chips and cell phones—the number of U.S. cell phones grew from essentially zero in 1983 to nearly two hundred million by the end of 2004, and as of 2003 over one billion cell phones were in use worldwide, so by the time the high-tech bubble approached its bursting point in 2000 and 2001, coltan had become an extremely hot commodity.

2007, Elizabeth Grossman, High Tech Trash, Island Press, →ISBN, page 46:

(economics) A period of intense speculation in a market, causing prices to rise quickly to irrational levels as the metaphorical bubble expands, and then fall even more quickly as the bubble bursts.


basket

en-noun

basket (countable and uncountable, plural baskets)

→ Cornish: basket

→ Irish: bascaed

→ Welsh: basged

From Middle English basket, from Anglo-Norman baschet, basket, bascat, of obscure origin.
One theory is that it derives from Late Latin bascauda (“kettle, table-vessel”), from Proto-Brythonic (in Breton baskodenn), from Proto-Celtic *baskis (“bundle, load”), from purported Proto-Indo-European *bʰask- (“bundle”), but this is now widely viewed as a substrate word for phonetic reasons. Related to Latin fascis (“bundle, package, load”) (whence English fasces), Albanian bokshe (“bundle”), Breton bac'h (“bundle, load”), Ancient Greek φάκελος (phákelos) and βάσκιοι (báskioi) (“bundle (of sticks)”); see also faggot (“(originally) bundle of sticks”).

unk

obscure

buslo

a large, deep basket used especially in marketing

pangnan

a small basket used by fishermen or to hold flowers or fruit


overhang

/ˈoʊvəɹˌhæŋ/

From Old English oferhangan, corresponding to over- + hang.

(economics) The volume that tips the balance between the demand and the supply toward demand lagging supply.


overtake

en-verb

overtake (third-person singular simple present overtakes, present participle overtaking, simple past overtook, past participle overtaken)

overtakes (present singular third-person)
overtaking (participle present)
overtook (past)
overtaken (participle past)

From Middle English overtaken, likely a replacement alteration (as the Middle English verb taken replaced nimen (“to take”)), of Middle English overnimen (“to overtake”), from Old English oferniman (“to take by surprise, overtake”), equivalent to over- + take.

der

(economics) To become greater than something else

overgå

economics: to become greater than something else


capitalism

en-noun

capitalism (countable and uncountable, plural capitalisms)

/ˈkæpɪ̈tl̩ˌɪzm̩/

Borrowed from French capitalisme (“the condition of one who is rich”); equivalent to capital + -ism. Derived from Proto-Indo-European *káput (“head”), ultimately from Proto-Indo-European *kap-. First used in English by novelist William Thackeray in The Newcomes [1854-1855].

bor

What this war has demonstrated is that private capitalism—that is, an economic system in which land, factories, mines and transport are owned privately and operated solely for profit—does not work. It cannot deliver the goods. This fact had been known to millions of people for years past, but nothing ever came of it, because there was no real urge from below to alter the system, and those at the top had trained themselves to be impenetrably stupid on just this point. Argument and propaganda got one nowhere. The lords of property simply sat on their bottoms and proclaimed that all was for the best. Hitler's conquest of Europe, however, was a physical debunking of capitalism. War, for all its evil, is at any rate an unanswerable test of strength, like a try-your-grip machine. Great strength returns the penny, and there is no way of faking the result.

1941, George Orwell, The Lion and the Unicorn, Pt. II:

(economics) An economic system based on private ownership of the means of production and their operation for profit.

(economics, economic liberalism) An economic system based on the abstraction of resources into the form of privately owned capital, with economic decisions made largely through the operation of a market unregulated by the state.

kapitalisme

socio-economic system based on the abstraction of resources

भांडवलशाही

bhāṇḍvalśāhī


deflation

en-noun

deflation (countable and uncountable, plural deflations)

(economics) A decrease in the general price level, that is, in the nominal cost of goods and services as well as wages.

Beyond that, there is the hope that deflation of the US economy which the administration has in mind will, overtime; stem the import flood.

1969 March 13, “Stans to seek foreign trade”, in Christian Science Monitor:

It also must be acknowledged that Britain's problems won't be solved by an abrupt deflation of the economy.

1976 October 11, “Unions Hold Key To British Stability”, in Milwaukee Sentinel:

The great deflation of the northern economy occurred with the rupturing of the Mackenzie Valley pipe dream.

1978 June 3, “Valley Pipe Dream Wrecked Economy”, in Calgary Herald:

(economics, euphemistic) An economic contraction.


spread

spread (countable and uncountable, plural spreads)

From Middle English spreden, from Old English sprǣdan (“to spread, expand”), from Proto-Germanic *spraidijaną (“to spread”), from Proto-Indo-European *(s)per- (“to strew, sow, sprinkle”).
Cognate with Saterland Frisian spreede (“to spread”), West Frisian spriede (“to spread”), North Frisian spriedjen (“to spread”), Dutch spreiden (“to spread”), Low German spreden (“to spread”), German spreiten (“to spread, spread out”), Norwegian spre, spreie (“to spread, disseminate”), Swedish sprida (“to spread”), Latin spernō, spargō, Ancient Greek σπείρω (speírō), Persian سپردن (sepordan, “to deposit”), English spurn.

cog

(business, economics) The difference between the wholesale and retail prices.

marginaali

(trading, economics, finance) The difference between the price of a futures month and the price of another month of the same commodity.

spredi

finance: difference between the price of a futures month and the price of another month of the same commodity


anchor

anchors (plural)
anchour (alternative archaic)

→ Chuukese: angko

From Middle English anker, from Old English ancor, ancra, from Latin ancora, from (or cognate with) Ancient Greek ἄγκυρα (ánkura). The modern form is a sixteenth-century modification after the Medieval Latin spelling anchora. Doublet of ancora, anker, angora, and Ankara.

doublet

Supermarkets have also had to adjust. Tesco, Sainsbury's and Asda have put a much greater emphasis on developing smaller high street stores or becoming anchors for mixed-used regeneration schemes […]

2006, Planning: For the Natural and Built Environment, numbers 1650-1666, page 15:

However, mall developers offer huge discounts to department stores because these anchors create traffic […]

2007, A. Sivakumar, Retail Marketing, page 102:

(economics) A superstore or other facility that serves as a focus to bring customers into an area.


GNP

gross national product
gross national product#English

(economics) Initialism of gross national product.


recession

en-noun

recession (countable and uncountable, plural recessions)

Borrowed from Latin recessiō, from recēdō (“recede, retreat”), from re- (“back”) + cēdō (“to go”).

Statisticians often define a recession as negative real GDP growth during two consecutive quarters.

(economics) A period of reduced economic activity


distribution

distribution (countable and uncountable, plural distributions)

distributions (plural)
distribucion (alternative obsolete)

From Old French, from Latin distributio, from distribuere 'to distribute', itself from dis- 'apart' + tribuere 'to' (from tribus).

The wealth distribution became extremely skewed in the kleptocracy.

(economics) The apportionment of income or wealth in a population.

jako

economics: apportionment of income or wealth in a population


volume

volume (countable and uncountable, plural volumes)

volumes (plural)
vol. (alternative abbreviation)

From Middle English volume, from Old French volume, from Latin volūmen (“book, roll”), from volvō (“roll, turn about”).

(economics) The total supply of money in circulation or, less frequently, total amount of credit extended, within a specified national market or worldwide.

rahan määrä

economics: total supply of money in circulation


laissez faire

/ˌlɛ(ˌ)seɪ ˈfɛəɹ/

Borrowed from French laissez faire (“leave it be”, literally “let do”).

bor

laissez-faire (alternative)
laisser faire (alternative)
laisser-faire (alternative)

In brief, all this Mammon-Gospel of Supply-and-demand, Competition, Laissez-faire, and Devil take the hindmost, begins to be one of the shabbiest Gospels ever preached on Earth; or altogether the shabbiest.

1843 April, Thomas Carlyle, chapter 9, in Past and Present, American edition, Boston, Mass.: Charles C[offin] Little and James Brown, published 1843, →OCLC, book I (Proem), page 106:

While laissez-faire economy was the product of deliberate State action, subsequent restrictions on laissez-faire started in a spontaneous way. Laissez-faire was planned; planning was not.

2001 [1944], Karl Polanyi, “12. Birth of the Liberal Creed”, in The Great Transformation:

(economics, politics) A policy of governmental non-interference in economic affairs.

放任

economics: a policy of governmental non-interference in economic affairs


laissez faire

en-adj

laissez faire (comparative more laissez faire, superlative most laissez faire)

more laissez faire (comparative)
most laissez faire (superlative)
laissez-faire (alternative)
laisser faire (alternative)
laisser-faire (alternative)

/ˌlɛ(ˌ)seɪ ˈfɛəɹ/

I think the city should take a laissez faire approach to this; getting involved would only make things worse.

(economics, politics) Practicing or representing governmental noninterference, or minimal interference, especially in economic affairs; pertaining to free-market capitalism.

laissez-faire

economics, politics: practicing or representing governmental noninterference, or minimal interference

The Senator claims to be laissez faire, but he voted in favor of the subsidies.

(economics, politics) Advocating such noninterference.

The price ceiling was well below the laissez faire price that demand would have supported, so there were always shortages.

(economics) Resulting from such noninterference.


freshwater

/ˈfɹɛʃˌwɔːtə(ɹ)/

From Middle English freche watur, fresshe water; equivalent to fresh + water.

2012, John Quiggin, Zombie Economics: How Dead Ideas Still Walk Among Us, Princeton University Press (expanded paperback ed., 1st ed. from 2010), →ISBN, page 86.
Meanwhile, the freshwater side of the dispute rapidly reverted to arguments from the nineteenth century, which had been debunked by Keynes and Irving Fisher.

(economics) neoclassical, in reference to U.S. macroeconomics and economics departments near the Great Lakes.


wealth

en-noun

wealth (countable and uncountable, plural wealths)

wealths (plural)
wealthe (alternative)
welth (alternative)
welthe (alternative)

Inherited from Middle English welth, welthe (“happiness, prosperity”), from Old English *welþ, *welþu, from Proto-West Germanic *waliþu (“wealth”). Alternatively, possibly an alteration (due to similar words in -th: compare helth (“health”), derth (“dearth”)) of wele (“wealth, well-being, weal”), from Old English wela (“wealth, prosperity”), from Proto-Germanic *walô (“well-being, prosperity”), from Proto-Indo-European *wel- (“good, best”); equivalent to weal + -th (abstract nominal suffix). Cognate with Dutch weelde (“wealth”), Low German weelde (“wealth”), Old High German welida, welitha (“wealth”). Related also to German Wohl (“welfare, well-being, weal”), Danish vel (“weal, welfare”), Swedish väl (“well-being, weal”). More at weal, well.

благосъстояние

power, of the kind associated with a great deal of money

(uncountable, economics) Riches; a great amount of valuable assets or material possessions.


output

en-noun

output (countable and uncountable, plural outputs)

From out + (verb) put; nominalisation of put out.

The factory increased its output this year.

Output at the Pen-ch'i mine, which produced somewhat under 1 million tons annually during 1942-1944, was around 500,000 tons in 1949.

1956, Yuan-li Wu, An Economic Survey of Communist China, New York: Bookman Associates, →OCLC, page 284:

It misdesigned goods, adversely selected technologies, misallocated and misremunerated factors of production, encouraged work to rule, underproduced, misdistributed outputs and was subject to a myriad of moral hazards.

2009, Steven Rosefielde, Red Holocaust, page 240:

Economics is a messy discipline: too fluid and unique to be a science, too rigorous to be an art. Perhaps it is fitting that economists’ most-used metric, gross domestic product (GDP), is a tangle too. GDP measures the total value of output in an economic territory. Its apparent simplicity explains why it is scrutinised down to tenths of a percentage point every month.

2013 August 3, “Boundary problems”, in The Economist, volume 408, number 8847:

That which is produced by something, especially that which is produced within a particular time period or from a particular effort.

(economics) Production; quantity produced, created, or completed.

uitset

production; quantity produced, created, or completed


output

en-verb

output (third-person singular simple present outputs, present participle outputting, simple past and past participle output or outputted)

outputs (present singular third-person)
outputting (participle present)
output (participle past)
output (past)
outputted (participle past)
outputted (past)

We output 1400 units last year.

(economics) To produce, create, or complete.


universe

universes (plural)
Universe (alternative)

From Middle English universe, from Old French univers, from Latin universum (“all things, as a whole, the universe”), neuter of universus (“all together, whole, entire, collective, general, literally turned or combined into one”), from uni-, combining form of unus (“one”) + versus (“turned”), perfect passive participle of vertō (“to turn”). Analyzable as uni- + -verse through backformation of -verse.

der

God does not play dice with the universe

(marketing, economics) A sample taken from the population.

Everything under consideration.
A sample taken from the population.


gross national product

en-noun

gross national product (usually uncountable, plural gross national products)

LL-Q1860 (eng)-Vealhurl-gross national product.wav

Within the two years from 1956 to 1958 the increase of expenditures was 34 per cent in terms of dollar outlays and 28 per cent in terms of the portion of gross national product spent on higher education.

1962, Fritz Machlup, The Production and Distribution of Knowledge in the United States, Princeton University Press, →ISBN, page 77:

Gross domestic product refers to the value of all goods and services produced within the country's boundaries, gross national product also includes net income from investments abroad.

2001, John Beardshaw, Economics: A Student's Guide, Pearson Education, →ISBN:

(economics) The total market value of all the goods and services produced by a nation (citizens of a country, whether living at home or abroad) during a specified period.

ban that thān wat thǣk lāi dai læ phon pha lit ngǣ sāt

ບັນທັດຖານວັດແທກ ລາຍໄດ້ ແລະ ຜົນຜະລິດ ແຫ່ງຊາດ


real

en-adj

real (comparative realer or more real, superlative realest or most real)

realer (comparative)
more real (comparative)
realest (superlative)
most real (superlative)

fictitious

antonym(s) of “that has physical existence”

imaginary

antonym(s) of “relating to numbers with a one-to-one correspondence to the points on a line”

UK

US

From Middle English real, from Old French reel, from Late Latin reālis (“actual”), from Latin rēs (“matter, thing”), from Proto-Indo-European *reh₁ís (“wealth, goods”). Doublet of realis.

prea

signifying meritorious qualities or actions

the real treasure is the friends we made along the way

My dad calculated my family's real consumption per month.

What is the real GNP of this polity?

(economics) Having been adjusted to remove the effects of inflation; measured in purchasing power (contrast nominal).

reëel

economics: having been adjusted to remove the effects of inflation

en:neoclassical rather than Keynesian, in economics

(economics) Relating to the result of the actions of rational agents; relating to neoclassical economic models as opposed to Keynesian models.


profit

en-noun

profit (countable and uncountable, plural profits)

profits (plural)
ꝓfit (alternative abbreviation obsolete)

From Middle English profit, from Old French profit (Modern French profit), from Latin prōfectus (“advance, progress, growth, increase, profit”), from proficiō (“to go forward, advance, make progress, be profitable or useful”). Doublet of profect.

der

Let no man anticipate uncertain profits.

1750 Oct. 2, Samuel Johnson, The Rambler

War is a racket. It always has been. It is possibly the oldest, easily the most profitable, surely the most vicious. It is the only one international in scope. It is the only one in which the profits are reckoned in dollars and the losses in lives... Of course, it isn't put that crudely in war time. It is dressed into speeches about patriotism, love of country, and "we must all put our shoulders to the wheel," but the profits jump and leap and skyrocket—and are safely pocketed.

1935, Smedley Butler, War Is a Racket, page 1 & 7:

The ability to shift profits to low-tax countries by locating intellectual property in them, which is then licensed to related businesses in high-tax countries, is often assumed to be the preserve of high-tech companies. […] current tax rules make it easy for all sorts of firms to generate […] “stateless income”: profit subject to tax in a jurisdiction that is neither the location of the factors of production that generate the income nor where the parent firm is domiciled.

2013 June 22, “T time”, in The Economist, volume 407, number 8841, page 68:

(accounting, economics) Total income or cash flow minus expenditures. The money or other benefit a non-governmental organization or individual receives in exchange for products and services sold at an advertised price.

mənfəət

total income or cash flow minus expenditures


consume

en-verb

consume (third-person singular simple present consumes, present participle consuming, simple past and past participle consumed)

consumes (present singular third-person)
consuming (participle present)
consumed (participle past)
consumed (past)

From Middle English consumen, from Old French consumer, from Latin cōnsūmere, cōnsūmō, from con- (“with, together”) + sūmō (“take; consume”), from sub- + emō (“to buy, take”), ultimately from Proto-Indo-European *h₁em- (“to take, distribute”), possibly related to the root *nem- (“to take or give one's due”).

der

In a materialistic society, individuals are taught to consume, consume, consume.

If you consume this product while in Japan, you may be subject to consumption tax.

(economics, transitive, intransitive) To trade money for good or services as an individual.


micro

en-noun

micro (countable and uncountable, plural micros)

From Ancient Greek μικρός (mikrós, “small”), or shortened form for modern words formed from its derivative micro-.

(colloquial, economics, uncountable) Clipping of microeconomics.


risk

risk (countable and uncountable, plural risks)

risks (plural)
risque (alternative archaic)

From earlier risque, from Middle French risque, from Old Italian risco (“risk”) (modern Italian rischio) and rischiare (“to run into danger”). Displaced native Old English pleoh (“risk”) and plēon (“to risk”).
speculation on earlier roots
Most dictionaries consider the etymology of these Italian terms uncertain, but some suggest they perhaps come from Vulgar Latin *resecum (“that which cuts, rock, crag”) (> Medieval Latin resicu), from Latin resecō (“cut off, loose, curtail”, verb), in the sense of that which is a danger to boating or shipping; or from Ancient Greek ῥιζικόν (rhizikón, “root, radical, hazard”).
A few dictionaries express more certainty. Collins says the Italian risco comes from Ancient Greek ῥίζα (rhíza, “cliff”) due to the hazards of sailing along rocky coasts. The American Heritage says it probably comes from Byzantine Greek ῥιζικό, ριζικό (rhizikó, rizikó, “sustenance obtained by a soldier through his own initiative, fortune”), from Arabic رِزْق (rizq, “sustenance, that which God allots”), from Classical Syriac ܪܘܙܝܩܐ ,ܪܙܩܐ (rezqā, rōzīqā, “daily ration”), from Middle Persian [script needed] (rōčig), from Middle Persian [script needed] (rōč, “day”), from Old Persian [script needed] (*raučah-), from Proto-Indo-European *lewk-.
Cognate with Spanish riesgo, Portuguese risco

der

ῥιζικό, ριζικό

ܪܘܙܝܩܐ ,ܪܙܩܐ

If there is a 25% chance of running over schedule, costing you a $100 out of your own pocket, that might be a risk you are willing to take. But if you have a 5% chance of running overschedule, knowing that there is a $10,000 penalty, you might be less willing to take that risk.

2002, Decisioneering Inc website, What is risk? read at http://www.decisioneering.com/risk-analysis.html on 14 May 2006

(uncountable, economics, business and engineering) The potential negative effect of an event, determined by multiplying the likelihood of the event occurring with its magnitude should it occur.

risiko

business etc.: potential (conventionally negative) effect of an event


producer

→ Azerbaijani: prodüser

→ Danish: producer

→ Dutch: producer

→ Hungarian: producer

→ Japanese: プロデューサー (purodyūsā)

desctree

→ Russian: продю́сер (prodjúser)
→ Kazakh: продюсер (prodüser)

/pɹəˈdʒuːsə/

But through the oligopoly, charcoal fuel proliferated throughout London's trades and industries. By the 1200s, brewers and bakers, tilemakers, glassblowers, pottery producers, and a range of other craftsmen all became hour-to-hour consumers of charcoal.

2006, Edwin Black, chapter 2, in Internal Combustion:

(economics) An individual or organization that creates goods and services.


substitute

From Middle English substituten, from Latin substitutus, past participle of substituō, from sub- (“under; beneath”) + statuō (“to put up; establish”).

(economics) Abbreviation of substitute good.


service

en-noun

service (countable and uncountable, plural services)

services (plural)
seruice (alternative obsolete)

→ Dutch: service

→ Indonesian: servis

→ German: Service

→ Hindustani

Hindi: सर्विस (sarvis)

Urdu: سروس (sarvis)

→ Hungarian: szerviz

→ Japanese: サービス (sābisu)

→ Korean: 서비스 (seobiseu)

→ Persian:

Dari: سرویس (sarwīs)

→ Russian: сервис (servis)

→ Ukrainian: сервіс (servis)

From Middle English servise, from Old English serfise, from Old French servise (French service), from the verb servir, from Latin servitium (compare Portuguese serviço, Italian servizio, Norman sèrvice, Spanish servicio), from servus (“servant; serf; slave”), ultimately from Proto-Indo-European *ser-wo-s (“guardian”), possibly from *ser- (“watch over, protect”). Displaced native Old English þeġnung.

Hair care is a service industry.

The dirty secret of the internet is that all this distraction and interruption is immensely profitable. Web companies like to boast about […], or offering services that let you "stay up to date with what your friends are doing",[...]and so on. But the real way to build a successful online business is to be better than your rivals at undermining people's control of their own attention.

2013 June 21, Oliver Burkeman, “The tao of tech”, in The Guardian Weekly, volume 189, number 2, page 27:

(economics) The practice of providing assistance as economic activity.

diens

practice of providing services as economic activity


accounting cost

accounting cost (plural accounting costs)

(economics) The total amount of money or goods expended in an endeavor, in which it is paid out at some time and recorded in journal entries and ledgers.


shortage

shortage (countable and uncountable, plural shortages)

/ˈʃɔː(ɹ)tɪd͡ʒ/

The admirable smoothness of the riding also reflected the greatest credit on those who, despite the difficulties caused by the shortage of men and materials, have succeeded in maintaining the track in such first-class order.

1946 July and August, Cecil J. Allen, “British Locomotive Practice and Performance”, in Railway Magazine, page 213:

The dawn of the oil age was fairly recent. Although the stuff was used to waterproof boats in the Middle East 6,000 years ago, extracting it in earnest began only in 1859 after an oil strike in Pennsylvania.[…]It was used to make kerosene, the main fuel for artificial lighting after overfishing led to a shortage of whale blubber.

2013 August 3, “The future of oil: Yesterday’s fuel”, in The Economist, volume 408, number 8847, archived from the original on 2013-12-18:

A lack or deficiency; an insufficient amount.


glut

en-verb

glut (third-person singular simple present gluts, present participle glutting, simple past and past participle glutted)

gluts (present singular third-person)
glutting (participle present)
glutted (participle past)
glutted (past)

Inherited from Middle English glotien /glotten, probably derived from Old French gloter /glotir /glotoiier (“to eat greedily”) [compare French engloutir (“to devour”), French glouton (“glutton”)], derived from Latin gluttiō, gluttīre (“to swallow”). Compare Russian глота́ть (glotátʹ, “to swallow”).

cog

(transitive, economics) To provide (a market) with so much of a product that the supply greatly exceeds the demand.

inonder

to provide with so much of a product that the supply greatly exceeds the demand


rent

en-noun

rent (countable and uncountable, plural rents)

From Middle English rent, rente, from Old French rente, from Early Medieval Latin rendita, from Late Latin rendere, from Latin reddere.

أُجْرَة

payment made for the use of equipment or a service

A New York city taxicab license earns more than $10,000 a year in rent.

(economics) A profit from possession of a valuable right, as a restricted license to engage in a trade or business.


employment

employment (countable and uncountable, plural employments)

employments (plural)
imployment (alternative)

From employ (itself from Middle French employer, from Middle French empleier, from Latin implicō (“enfold, involve, be connected with”), itself from in- + plicō (“fold”)) + -ment.

der

(economics) The number or percentage of people at work.


intensive

en-adj

intensive (comparative more intensive, superlative most intensive)

more intensive (comparative)
most intensive (superlative)

The adjective is derived from Late Middle English intensive (“fervent, great, intense”), borrowed from Old French intensif, intensive (modern French intensif) + Middle English -ive (suffix meaning ‘of the nature of, relating to’ forming adjectives), equivalent to intense + -ive. Intensif is from Medieval Latin intēnsīvus, from Latin intēnsus (“attentive; eager, intent; intensive”) + -īvus (suffix forming adjectives with the sense ‘doing; related to doing’); and intēnsus is the perfect passive participle of intendō (“to stretch out, strain”), from in- (prefix meaning ‘to, towards’) + tendō (“to extend, stretch, stretch out”) (ultimately from Proto-Indo-European *tend- (“to extend, stretch”)). Doublet of intend.
The noun is derived from the adjective.

напрегнат

using something with intensity; requiring a great amount of something — see also demanding

Making something more intense; intensifying.

(agriculture, economics) Of agriculture: increasing the productivity of an area of land.

teho-

of agriculture: increasing the productivity of an area of land


elastic

en-adj

elastic (comparative more elastic, superlative most elastic)

more elastic (comparative)
most elastic (superlative)
elastick (alternative obsolete)

→ Malay: elastik

From French élastique, from New Latin elasticus (“elastic”), from Ancient Greek ἐλαστός (elastós), alternative form of ἐλατός (elatós, “ductile”) (cf. ἐλατήρ (elatḗr, “a driver, hurler”)), from ἐλαύνω (elaúnō, “to drive, set in motion, push, strike, beat out”).

Demand for entertainment is more elastic than demand for energy.

(economics) Sensitive to changes in price.


expansion

en-noun

expansion (countable and uncountable, plural expansions)

Borrowed from French expansion, from Latin expānsiō. By surface analysis, expand + -sion.

Secondly, the cyclical expansion now taking shape in the United States is starting from a relatively high level; it has much less headroom than earlier expansions that began from a deeply deflated recession base.

1971, National Industrial Conference Board, The Conference Board Record - Volume 8, page 4:

In addition, new technologies are adopted which are less labour-using, thus unemploying workers. Over the postwar years, factors of this sort have contributed to a gradual upward drift in unemployment rates, even during expansions.

1978, Fred Caloren, Michel Chossudovsky, Paul Gingrich, Is the Canadian Economy Closing Down?, Black Rose Books Ltd., →ISBN, page 88:

An act, process, or instance of expanding.

(economics) An increase in the market value of an economy over time.


bubbly

en-adj

bubbly (comparative bubblier, superlative bubbliest)

bubblier (comparative)
bubbliest (superlative)

China’s economy is too bubbly and will soon slow down.

2011 July 2, Iana Dreyer, “China’s coming era of slower growth: Are western economies prepared?”, in East Asia Forum:

(economics) Having the characteristics of economic bubbles.

kupla-

economics: having the characteristics of economic bubbles


panic

en-noun

panic (countable and uncountable, plural panics)

The adjective is borrowed from Middle French panique, a word itself borrowed from Ancient Greek πανικός (panikós, “pertaining to Pan”); Pan, the Greek god of fields and woods, was believed to be the source of mysterious sounds that caused contagious, groundless fear in herds and crowds, or in people in lonely spots.
Adjective sense 3 (“pertaining to or resulting from overpowering fear or fright”) is partly an attributive use of the noun.
The noun is derived from the adjective, while the verb is derived from the noun. Verb sense 1.3 (“to highly amuse, entertain, or impress (an audience watching a performance or show”) is derived from noun sense 4 (“a highly amusing or entertaining performer, performance, or show”).

der

"I thought you inherited your money."
 "I did, old sport," he said automatically, "but I lost most of it in the big panic—the panic of the war."

1925, F[rancis] Scott Fitzgerald, chapter 5, in The Great Gatsby, New York, N.Y.: Charles Scribner’s Sons, published 1953, →ISBN, →OCLC, page 91:

"There is sort of a panic going on, and that is not what ought to be," [Chris] Dodd, a Democrat from Connecticut, said at a press conference in Washington today. "Fannie Mae and Freddie Mac were never bottom feeders in the residential mortgage market."

2008 July 11, Romaine Bostick, “Fannie Mae, Freddie Mac are Sound; Panic Unwarranted, Dodd Says”, in Bloomberg News:

(countable, economics, finance) A rapid reduction in asset prices due to broad efforts to raise cash in anticipation of such prices continuing to decline.


complement

en-noun

complement (countable and uncountable, plural complements)

From Middle English complement, from Latin complēmentum (“that which fills up or completes”), from compleō (“I fill up, I complete”) (English complete). Doublet of compliment. The verb is from the noun.

der

complementary good
complementary good#English

(economics) Abbreviation of complementary good.


felicity

en-noun

felicity (countable and uncountable, plural felicities)

From Middle English felicite (“bliss, happiness, joy; delight, pleasure; a source of happiness; good fortune; prosperity; well-being; of a planet: in an influential position”) [and other forms], borrowed from Old French felicité (modern French félicité (“bliss, happiness; felicity”)), from Latin fēlīcitātem, the accusative singular of fēlīcitās (“fertility, fruitfulness; happiness, felicity; good fortune; success”), from fēlix (“happy; blessed, fortunate, lucky; fertile, fruitful; prosperous; auspicious, favourable”) (ultimately from Proto-Indo-European *dʰeh₁(y)- (“to nurse, suckle”)) + -itās (a variant of -tās (suffix forming nouns indicating a state of being)).

nb...

felicitee, felicyte, felycite, felycitee, felycyte

der

In equation (19.24) U#95;C(#92;cdot) is the marginal felicity of consumption[.]

2017, Ben J. Heidra, Foundations of Modern Macroeconomics, third edition, Oxford University Press, →ISBN, page 756:

(uncountable, economics) Period (as opposed to lifetime) utility.


PRC

en-noun

PRC (countable and uncountable, plural PRCs)

(economics) Initialism of Private Commercial Organisation.


Keynesian

en-adj

Keynesian (comparative more Keynesian, superlative most Keynesian)

more Keynesian (comparative)
most Keynesian (superlative)

That’s why supply and demand get out of balance in a slump, according to the so-called New Keynesian model that Fed officials and other policy makers lean on.

2020 May 27, Matthew Boesler, Reade Pickert, “Salaries Get Chopped for Many Americans Who Manage to Keep Jobs”, in Bloomberg News:

(economics) Of or pertaining to an economic theory based on the ideas of John Maynard Keynes, as put forward in his book The General Theory of Employment, Interest and Money, published in 1936 in response to the Great Depression of the 1930s, and extensively extended by a large body of followers before and after his death in 1946.

كِنْزِيٌّ

pertaining to an economic theory based on the ideas of Keynes


Keynesian

We Are All Keynesians Now [title]

1965 December 31, Milton Friedman, “We Are All Keynesians Now”, in Time, archived from the original on 2007-02-11:

Since the 1960's the Keynesians have also come under heavy criticism by a group of economists known as Neo-Keynesians. The main contention of the Neo-Keynesians is that the Keynesians have no adequate theory on inflation.

1981, Thomas Katsaros, John Teluk, Capitalism: A Cooperative Venture, University Press of America, page 22:

(economics) A proponent of Keynesian economic doctrine.


agio

/ˈæ.d͡ʒiˌoʊ/

1989, Isaac Levy, translator, The Pentateuch (translation of, Samson Raphael Hirsch, Der Pentateuch, ubersetzt und erlautert), second edition, volume 2, Exodus, Judaica Press, →ISBN, page 582 (commentary to Exodus 30:16),
Owing to the enormous number of half-shekel coins required each year in Adar, these were greatly in demand, and the money-changers made a small fixed charge of an agio for changing whole into half shekels.

The money of such banks being better than the common currency of the country, necessarily bore an agio, which was greater or smaller, according as the currency was supposed to be more or less degraded below the standard of the state.

1776, Adam Smith, An inquiry into the nature and causes of the wealth of nations:

(economics, finance) The premium or percentage on a better sort of money when it is given in exchange for an inferior sort. The premium or discount on foreign bills of exchange is sometimes called agio.


externality

en-noun

externality (countable and uncountable, plural externalities)

From external + -ity. In the economic sense coined by British economist Alfred Marshall in 1890.

coin

Waste is a negative externality arising from consumption.

"(1) Each agency shall identify in writing the specific market failure (such as externalities, market power, lack of information) or other specific problem that it intends to address (including, where applicable, the failures of public institutions) that warrant new agency action, as well as assess the significance of that problem, to enable assessment of whether any new regulation is warranted."

2007, George W. Bush, Executive Order 13422:

Pigouvian taxes are meant to internalize ‘externalities’, generally understood to be positive or negative side-effects from economic production that are not reflected in the price of production.

2016, Cinnamon P. Carlarne, Kevin R. Gray, Richard Tarasofsky, editors, The Oxford Handbook of International Climate Change Law, Oxford University Press, →ISBN:

(economics, countable) An impact, positive or negative, on any party not involved in a given economic transaction or act.

արտաքին ազդակ

impact on any party not involved in a given economic transaction


spot market

The price on the futures market depends in part on the price on the spot market.

(trading, economics, finance) A market in which commodities are bought and sold for immediate delivery, with delivery usually taking place in the same or next business day.


mercantile

Borrowed from French mercantile, from Italian mercantile, from mercante (“merchant”), from Latin mercāns (“trading”).

No sign was over his door; in fact—as with old banks and mercantile houses—advertising in any shape was scorned, and it would have been felt as beneath his dignity to paint, for the benefit of strangers, the name of an establishment the trade of which came solely by connection based on personal respect.

1872, [Thomas Hardy], “II. A Meeting of the Choir”, in Under the Greenwood Tree: A Rural Painting of the Dutch School, volume I, London: Tinsley Brothers, →OCLC, part II, page 139:

(economics) Concerned with the exchange of goods for profit.

търговски

related to the exchange of goods for profit

(economics) Of or relating to mercantilism.


conservative

Borrowed from Middle French conservatif, from Latin cōnservō (“to preserve”). Equivalent to conserve + -ative.

A person who favors maintenance of the status quo.

(US, Canada, economics) A fiscal conservative.


conservative

en-adj

conservative (comparative more conservative, superlative most conservative)

more conservative (comparative)
most conservative (superlative)

George Soros remains a favorite target of conservative conspiracy theorists, seeing his corrupting influence behind every liberal movement and within every nook and cranny.

2020 November 18, Brian Lowry, “‘Soros’ looks at the life and activism of the right’s favorite bogeyman”, in CNN:

(US, Canada, economics, politics, social sciences) Supporting some combination of fiscal, political or social conservatism.

مُحَافِظ

supporting fiscal, political or social conservatism


quota

(business, economics) A restriction on the import of something to a specific quantity.


deflate

en-verb

deflate (third-person singular simple present deflates, present participle deflating, simple past and past participle deflated)

deflates (present singular third-person)
deflating (participle present)
deflated (participle past)
deflated (past)

From de- + (in)flate. Coined in 1891, in reference to balloons. Equivalent to Latin dē- (“away, from”) + Latin flō (“blow”) + -ate (verb-forming suffix).

af

(transitive, economics) To reduce the amount of available currency or credit and thus lower prices.


industry

en-noun

industry (countable and uncountable, plural industries)

From Middle English industry, industrie, from Old French industrie, from Latin industria (“diligence, activity, industry”), from industrius (“diligent, active, zealous”), from Old Latin indostruus (“diligent, active”); origin unknown. Perhaps from indu (“in”) + ūst-, ūstr-, stem of ūrō (“burn, burn up, consume”, verb), related to Old High German ūstrī (“industry”), Old English andūstrian (“to hate, detest”, literally “to be consumed with zeal”).

cog

The software and tourism industries continue to grow, while the steel industry remains troubled.

The steel industry has long used blast furnaces to smelt iron.

Long before popular music evolved its many genres and subgenres, the industry was driven by a simple one-size-fits-all philosophy uncomplicated by impassioned debates over the origins of trip hop or the difference between deatchore and screamo.

2012, Christoper Zara, Tortured Artists: From Picasso and Monroe to Warhol and Winehouse, the Twisted Secrets of the World's Most Creative Minds, part 1, chapter 2, 51:

Finance is seldom romantic. But the idea of peer-to-peer lending comes close. This is an industry that brings together individual savers and lenders on online platforms. Those that want to borrow are matched with those that want to lend.

2013 June 1, “End of the peer show”, in The Economist, volume 407, number 8838, page 71:

(countable, business, economics) Businesses of the same type, considered as a whole. Trade.

But through the oligopoly, charcoal fuel proliferated throughout London's trades and industries. By the 1200s, brewers and bakers, tilemakers, glassblowers, pottery producers, and a range of other craftsmen all became hour-to-hour consumers of charcoal.

2006, Edwin Black, chapter 2, in Internal Combustion:

(uncountable, economics) Businesses that produce goods as opposed to services.

There used to be a lot of industry around here, but now the economy depends on tourism.

[Rural solar plant] schemes are of little help to industry or other heavy users of electricity. Nor is solar power yet as cheap as the grid. For all that, the rapid arrival of electric light to Indian villages is long overdue. When the national grid suffers its next huge outage, as it did in July 2012 when hundreds of millions were left in the dark, look for specks of light in the villages.

2013 July 20, “Out of the gloom”, in The Economist, volume 408, number 8845:

(in the singular, economics) The sector of the economy consisting of large-scale enterprises.


hyperinflation

Even though ten years elapsed between the German hyperinflation of 1923 and the seizure of power by Hitler, it is often suggested that the two events are causally related.

1985, Leon N. Lindberg, Charles S. Maier, Brian M. Barry, The Politics of inflation and economic stagnation, page 74:

Only inconvertible paper currencies can be expanded rapidly without limit to generate hyperinflation.

1987, Philip Cagan, “Hyperinflation”, in The New Palgrave: A Dictionary of Economics:

When hyperinflation peaked, wheelbarrows full of money were required to shop for groceries.

2004, John Barkley Rosser, Marina V. Rosser, Comparative Economics in a Transforming World Economy, page 236:

(economics) A very high rate of inflation.


consumer

This new system favours the consumer over the producer.

Almost two-thirds of American consumers have at least one unspent gift card tucked away in a drawer, pocket, wallet or purse.

2023 February 23, Parija Kavilanz, “Americans have a collective $21 billion in unspent gift cards”, in CNN:

A second estimate of gross domestic product, released Thursday, showed that consumer spending was weaker in the first three months of the year than initially reported.

2024 May 30, Bryan Mena and Nathaniel Meyersohn, “The American shopping spree is losing steam”, in CNN:

(economics) Someone who trades money for goods or services as an individual.


demand

en-noun

demand (countable and uncountable, plural demands)

demands (plural)
demaund (alternative obsolete)
demaunde (alternative obsolete)

Etymology tree
Proto-Italic *dē
Latin dē
Latin dē-
Proto-Indo-European *(s)meh₂-der.
Proto-Italic *manus
Proto-Indo-European *dʰeh₁-
Proto-Indo-European *dʰéh₁tder.
Proto-Italic *-ðō
Proto-Italic *manuðō
Latin mandō
Latin dēmandō
Old French demanderbor.
Middle English demaunden
English demand
From late Middle English demaunden, from Old French demander, from Latin dēmandō, dēmandāre.

etymon

(economics) The amount of a good or service that consumers are willing to buy at a particular price.

պահանջարկ

economics: amount a consumer is willing to buy at a particular price


competitive advantage

en-noun

competitive advantage (plural competitive advantages)

(economics, business) An attribute that allows a company or a person to outperform competitors.


inferior

en-adj

inferior (comparative more inferior, superlative most inferior)

more inferior (comparative)
most inferior (superlative)
inferiour (alternative)

Borrowed from Latin īnferior (“lower in situation or place”), comparative of īnferus (“below, underneath”).

bor

(with to) Lower in rank, status, or quality.

(economics) Denoting goods or services which are in greater demand during a recession than in a boom, for example second-hand clothes.


firm

From Italian firma (“signature”), from firmare (“to sign”), from Latin firmāre (“to make firm, to confirm (by signature)”), from firmus (“firm, stable”). The contemporary sense developed in the 18th century simultaneously with German Firma (“business, name of business”). There are conflicting statements in the literature as to which of the two languages influenced which. Doublet of dharma and dhamma. Other cognates include Russian держать (deržatʹ, “to hold”).

der

Finance is seldom romantic. But the idea of peer-to-peer lending comes close. This is an industry that brings together individual savers and lenders on online platforms.[…]Banks and credit-card firms are kept out of the picture. Talk to enough people in the field and someone is bound to mention the “democratisation of finance”.

(business, economics) A business enterprise, however organized.


surrogate

→ Dutch: surrogaat

From Latin surrogātus, perfect passive participle of surrogō (“ask”); a variant of subrogō, from sub (“under”) + rogō (“ask”).


utility

en-noun

utility (countable and uncountable, plural utilities)

From Middle English utilite, from Old French utilite, utilitet (“usefulness”), from Latin ūtilitās, from uti (“to use”). By surface analysis, utile + -ity.

(economics) The ability of a commodity to satisfy needs or wants; the satisfaction experienced by the consumer of that commodity.

užitek

economics: ability of a commodity to satisfy needs or wants


debtor

From Middle English dettour, from Old French detour, from Latin debitor, equivalent to debt + -or. Doublet of debitor. Displaced native Old English *sċola.

(economics) A person or firm that owes money; one in debt; one who owes a debt.


exportation

exportation (countable and uncountable, plural exportations)

(business, economics) The act of exporting; the act of conveying or sending commodities abroad or to another country, in the course of commerce.


surplus

surplus (countable and uncountable, plural surpluses or surplusses)

From Middle English surplus, from Middle French surplus. Compare French surplus.

That which remains when use or need is satisfied, or when a limit is reached; excess; overplus; overage.


surplus

en-verb

surplus (third-person singular simple present surpluses or surplusses, present participle surplussing or surplusing, simple past and past participle surplussed or surplused)

surpluses (present singular third-person)
surplusses (present singular third-person)
surplussing (participle present)
surplusing (participle present)
surplussed (participle past)
surplussed (past)
surplused (participle past)
surplused (past)

This employee was engaged to direct asphalt plants and inasmuch as the work for which he had been employed was completed, he was surplused and his return travel was approved […]

1952, United States. Congress. House. Committee on Appropriations, Moroccan air base construction. 2 v, page 618:

(transitive) To treat as surplus to requirements; to sell off or dismiss from employment, etc.


goods

→ Japanese: グッズ (guzzu)

→ Korean: 굿즈 (gutjeu)

(business, economics) That which is produced, then traded, bought or sold, then finally consumed.

pasuri

that which is produced, traded, bought or sold


services

(business, economics) That which is produced, then traded, bought or sold, then finally consumed and consists of an action or work.


stagflationary

(economics) Tending to induce stagflation.


stagflation

en-noun

stagflation (countable and uncountable, plural stagflations)

→ Russian: стагфляция (stagfljacija)

Blend of stagnation + inflation, generally thought to have been coined by the British politician Iain Macleod (1913–1970) in a 17 November 1965 parliamentary speech: see the quotation.

coinage

We now have the worst of both worlds—not just inflation on the one side or stagnation on the other, but both of them together. We have a sort of "stagflation" situation and history in modern terms is indeed being made. There is another point behind the figures. As I say, production has fallen by 1 per cent. or ½ per cent.

1965 November 17, Iain Macleod, “Economic Affairs”, in Parliamentary Debates (Hansard): House of Commons Official Report (House of Commons of the United Kingdom), volume 720, London: Her Majesty’s Stationery Office, →ISSN, →OCLC, archived from the original on 2024-04-27, column 1165:

As soon as we understand how involuntary unemployment can result from rational and well-informed individual behavior, it also becomes obvious how inflation and unemployment—which we once thought could not occur simultaneously—can be combined, as they have been in the recent stagflation.

1982, Mancur Olson, “The Questions, and the Standards a Satisfactory Answer Must Meet”, in The Rise and Decline of Nations: Economic Growth, Stagflation, and Social Rigidities, New Haven, Conn.; London: Yale University Press, →ISBN, page 8:

Since no one had the solutions to stagflation, [Jimmy] Carter, a fiscal conservative from the beginning, was thrown back to his personal bias and chose to elevate inflation to the nation's most pressing problem. […] More radical solutions to stagflation, such as direct wage and price controls or voluntary wage freezes to halt the wage/price spiral, were not thought to be socially acceptable. So, in the end the administration acquiesced to monetary stringency and watched its tenure recede.

1995, Anthony S. Campagna, “Conclusions and Legacy”, in Economic Policy in the Carter Administration (Contributions in Economics and Economic History; no. 171), Westport, Conn.; London: Greenwood Press, →ISBN, →ISSN, page 204:

Moving into the mid-1970s, America's economic performance suffered. Stagflation—inflation combined with minimal economic growth—eroded wages and profits, weakening business and consumer confidence.

2013, George R. Tyler, “Facing Reality”, in What Went Wrong: How the 1% Hijacked the American Middle Class … and What Other Countries Got Right, Dallas, Tex.: BenBella Books, →ISBN, section 1 (The Beginning), page 4:

The UK economy is suffering a nasty bout of stagflation and the prospects appear poor. That is the conclusion financial markets drew this week from yet more disappointing data, highlighting the weakness of the post-Covid economy and the persistence of high inflation.

2023 June 17, Chris Giles, Delphine Strauss, “Britain’s economic malaise”, in Roula Khalaf, editor, FT Weekend, London: Financial Times, →ISSN, →OCLC, archived from the original on 2023-06-21, page 6:

Stagflation is a period of stagnant economic growth accompanied by persistently high inflation and a sharp rise in unemployment. While stagflation is quite rare—the U.S. has only experienced one sustained period of stagflation in recent history, in the 1970s—it’s become a more frequent topic of speculation. While it's unlikely that the U.S. economy is headed for another bout of stagflation, it's important to contextualize what's happening with the prominent episode of stagflation in the 1970s. […] Stagflation refers to an economy characterized by high inflation, low economic growth and high unemployment.

2023 December 11, Anna-Louise Jackson, “Is the U.S. Economy Heading For Stagflation?”, in Benjamin Curry, editor, Forbes, New York, N.Y.: Forbes, Inc., →ISSN, →OCLC, archived from the original on 2024-02-21:

"[Donald Trump's tariff proposal] is a prescription for the mother of all stagflations,” Larry Summers, Treasury secretary during the [Bill] Clinton administration, told Bloomberg TV back in June.

2024 October 30, Laurent Belsie, “Surprisingly, Wall Street doesn’t seem to care who gets elected. So far, at least.”, in The Christian Science Monitor, Boston, Mass.: Christian Science Publishing Society, →ISSN, →OCLC:

(economics) Prolonged high inflation accompanied by stagnant growth, often with recession and high unemployment.

رُكُود تَضَخُّمِي

prolonged high inflation accompanied by stagnant growth


protection

en-noun

protection (countable and uncountable, plural protections)

/pɹəˈtɛkʃən/

From Middle English, from Old French, from stem of Late Latin prōtectiō (“a covering over”), from Latin prōtēctus, perfect passive participle of prōtegere (“to protect, cover in front”). Displaced native Old English ġesċildnes.

der

(economics) Restrictions on foreign competitors which limit their ability to compete with domestic producers of goods or services.

suojaaminen

economics: restrictions on foreign competitors


seller's market

en-noun

seller's market (plural seller's markets or sellers' markets)

seller's markets (plural)
sellers' markets (plural)

Pay any price you have to. We're in a seller's market right now.

(economics, finance, idiomatic) An excess of demand over supply, leading to abnormally high prices; a market condition favoring the seller.


depression

depression (countable and uncountable, plural depressions)

From Middle English depression, depressioun, from Old French depression, from Latin dēpressiō.

(economics) A period of major economic contraction.

depressie

economics: period of major economic contraction

The Great Depression was the worst financial event in US history.

(economics, US) Four consecutive quarters of negative, real GDP growth. See NBER.

lama

economics: four consecutive quarters of negative real GDP development


liberalism

liberalism (countable and uncountable, plural liberalisms)

Circa 1819, from French libéralisme circa 1818. Equivalent to liberal + -ism.

But liberalism has no obvious answers to the biggest problems we face: ecological collapse and technological disruption.

2018, Yuval Noah Harari, 21 Lessons for the 21st Century:

(economics) An economic ideology in favour of laissez faire and the free market (related to economic liberalism).


FED

So, the FED Chairman chose to reassure all concerns, promising "a lasting expansion in economic activity while continuing progress against inflation.

1982-3, National Farmers' Union Washington newsletter, v. 29-31, http://books.google.com/books?lr=&id=ajk9AAAAYAAJ&q=%22so%2C+the+FED+Chairman%22#search_anchor

The extent of independence of the Federal Reserve Board (FED) from the executive branch has been a topic of ongoing study by economists and political scientists.

1985, Caryl Ersenkal, Myles S. Wallace, and John T. Warner, "Chairman reappointments, presidential elections and policy actions of the federal reserve," Policy Sciences, Springer Netherlands, ISSN 0032-2687, vol. 18, no. 3, November, 1985, pages 211-225, pg. 211

Positive news was consolidated for economic performance, while the bond market diverged from the opinions expressed by the FED.

2003, Review of the economic situation of Mexico, Citigroup/Banco Nacional de México (Banamex), August 2003, vol. LXXIX, no. 932, pg. 3

Consolidates the Federal Reserve Banks (FED) and monetary authority functions undertaken by the central government.

2006, International Financial Statistics Yearbook 2006, International Monetary Fund, →ISBN, page 191:

(US, economics, banking, nonstandard) Federal Reserve System. Alternative spelling of Fed.


ILO

International Labour Organization
w:International Labour Organization

(UN) Initialism of International Labour Organization, a specialised agency of the United Nations to deal with labour issues.


nominal

→ Afrikaans: nominaal

PIE word
 *h₁nómn̥
From the Middle English nominalle (“of nouns”), borrowed from Latin nōminālis (“of names”), from nōmen (“name”).

My employer does not understand how low my nominal wage is.

The nominal GNP of this country is pretty low.

Comparisons of the costs of the Diablo Canyon plant with other nuclear power plants can be misleading because the available cost data are in nominal dollars and therefore include the toll of inflation over the construction periods.

1991, Richard J. Gilbert, Regulatory Choices: A Perspective on Developments in Energy Policy, page 267:

This simple process allows us to convert nominal dollars into inflation-adjusted real dollars.

2001, Erich A. Helfert, Financial Analysis: Tools and Techniques: A Guide for Managers, page 467:

(economics) Without adjustment to remove the effects of inflation.

nominaal

economics: without adjustment to remove the effects of inflation


mathematical economics

(economics, mathematics) A sub-field of economics which aims at expressing economic theories with mathematical formulae.


econometrics

An adaptation of the French économétrie. Coined by Norwegian economist Ragnar Frisch in 1926. Compare the earlier German Oekonometrie (now generally spelt Ökonometrie), first used (in a different sense) by Polish economist Paweł Ciompa in 1910.

coined

For quotations using this term, see Citations:econometrics.

(economics) The branch of economics that applies statistical methods to the empirical study of economic theories and relationships.


isoquant

(economics) A line of equal or constant economic production on a graph, chart or map


mutualism

en-noun

mutualism (countable and uncountable, plural mutualisms)

From mutual + -ism. Compare French mutualisme and Italian, Portuguese, and Spanish mutualismo.

(economics) An economic theory and anarchist school of thought that advocates a society where each person might possess a means of production, either individually or collectively, with trade representing equivalent amounts of labor in the free market.


nudge

Circa 17th century, perhaps of North Germanic origin, related to Norwegian nugge, nyggje (“to push, rub, shove”), Icelandic nugga (“to rub, massage”), from the root of Proto-Germanic *hnōjaną (“to smooth, join together”), from Proto-Indo-European *kneh₂- (compare Ancient Greek κνάω (knáō, “to scratch, scrape”), source of English acnestis).
Compare also Scots nodge (“to push, poke, nudge”), knidge (“to push, squeeze”), gnidge (“to rub, press, squeeze, bruise”), and knudge (“to squeeze, press down with the knuckles”), Saterland Frisian Nukke, Nuk (“a sudden push”), Middle Low German nucke, nücke, gnücke (“a sudden push, shock, impetus”). Compare also dialectal nuch (“to tremble”), Middle English nuchen (“to tremble”).

cog

All this experimentation is yielding insights into which nudges give the biggest shove. One question is whether nudges can be designed to harness existing social norms. In Copenhagen Pelle Guldborg Hansen, founder of the Danish Nudging Network, a non-profit organisation, tested two potential “social nudges” in partnership with the local government, both using symbols to try to influence choices.

2012 March 24, “Nudge nudge, think think”, in The Economist:

Manipulating behavior is old hat in the private sector, where advertisers and companies have been nudging consumers for decades. Just think of strategically placed chocolate bars at the checkout counter. But in public policy, nudge proponents study human behavior to try to figure out why people sometimes make choices that they themselves would consider poor. Then they test small changes in how those choices are presented, to see whether people can be steered toward better decisions — like putting apples, not chocolate bars, at eye level in school cafeterias. […] It is tricky to run perfectly controlled experiments in real-life situations, but proving the worth of nudges is a central principle of the program, Mr. Halpern said.

2013 December 7, Kathrin Bennhold, “Britain’s Ministry of Nudges”, in New York Times:

positive reinforcement
positive reinforcement

(behavioral economics) The use of positive reinforcement and indirect suggestions as ways to influence.

tuuppaaminen

behavioral economics: the use of positive reinforcement and indirect suggestions as ways to influence


sales

He's likable and motivated: perfect for a career in sales.

We have a sales training program beginning this Monday.

The activities involved in selling goods or services.


cartel

→ Spanish: cártel

In the business sense, borrowed from German Kartell, first used by Eugen Richter in 1871 in the Reichstag. In the political sense, which was the vehicle for this metaphor, the English sense, like the German sense, was borrowed from French cartel in the sixteenth century, from Italian cartello, diminutive of carta (“card, page”), from Latin charta.

oil cartel

drug cartel

Over the past decade, the very nature of organized crime has changed, with many groups diversifying their income beyond drug trafficking, and large cartels splintering into smaller, oftentimes more nimble groups.

2023 January 10, Whitney Eulich, America Armenta, “Mexico arrests son of ‘El Chapo’: Why don’t citizens feel safer?”, in The Christian Science Monitor:

(economics) A group of businesses or nations that collude to limit competition within an industry or market.

картел

group of businesses or nations that collude to fix prices


law of diminishing returns

(economics) A relationship between input and output, such that adding units of any one input (labour, capital etc.) to fixed amounts of the others will yield successively smaller increments of output.


law of diminishing marginal utility

en-noun

law of diminishing marginal utility (plural laws of diminishing marginal utility)

laws of diminishing marginal utility (plural)

(economics) The theory that as the quantity of a good or service consumed increases, the additional satisfaction (marginal utility) gained from each additional unit decreases, reflecting a general decline in utility for each successive unit consumed.


trough

PIE word
 *dóru
From Middle English trogh, from Old English troh, trog (“a trough, tub, basin, vessel for containing liquids or other materials”), from Proto-West Germanic *trog, from Proto-Germanic *trugą, *trugaz, from Proto-Indo-European *drukós, enlargement of *dóru (“tree”).
See also West Frisian trôch, Dutch trog, German Trog, Danish trug, Swedish tråg; also Middle Irish drochta (“wooden basin”), Old Armenian տարգալ (targal, “ladle, spoon”). More at tree.

cog

(economics) A low turning point or a local minimum of a business cycle.


drawdown

en-noun

drawdown (countable and uncountable, plural drawdowns)

LL-Q1860 (eng)-Flame, not lame-drawdown.wav

(economics) (A measure of) the decline from a historical peak in some economic or financial variable.


convergence

convergence (countable and uncountable, plural convergences)

From converge + -ence (after Latin convergentia).

(economics) The hypothesis that poorer economies' per capita incomes tend to grow faster than richer economies.


takeover

takeovers (plural)
take-over (alternative)

If the takeover is approved, Comcast would control 20 of the top 25 cable markets, […]. Antitrust officials will need to consider Comcast’s status as a monopsony (a buyer with disproportionate power), when it comes to negotiations with programmers, whose channels it pays to carry.

2014 March 15, “Turn it off”, in The Economist, volume 410, number 8878:

(economics) The purchase of one company by another; a merger without the formation of a new company, especially where some stakeholders in the purchased company oppose the purchase.

(economics, UK) The acquisition of a public company whose shares are listed on a stock exchange, in contrast to the acquisition of a private company.


macro

macro (countable and uncountable, plural macros)

1933, from macro-, from French, from Latin, from Ancient Greek μακρός (makrós, “long”).

On Monday, chipmaker Nvidia (NVDA) cut its sales outlook for the fourth quarter, citing “deteriorating macroeconomic conditions, particularly in China.” Last week, Intel’s (INTC) CEO also noted that “trade and macro concerns, especially in China, have intensified.”

2019 January 28, Seth Fiegerman, “Apple earnings: How low can iPhone sales go?”, in CNN Business:

(colloquial, economics, uncountable) Clipping of macroeconomics


cottage industry

cottage industry (plural cottage industries)

Customers quickly sensed the change when CA took over a company: The new owners vigorously enforced license agreements, often in the courts. A cottage industry soon sprang up to advise companies on how to negotiate with CA.

1996 November 11, Amy Cortese, “Computer Associates: Sexy? No. Profitable? You Bet”, in BusinessWeek, archived from the original on 2000-06-09:

So why was there so much breathlessness about a blogger joining this emphatically non-exclusive club? Because the blogging story has become a cottage industry, a cultural fashion trend that blogger and establishment alike have a vested interest in keeping alive.

2005 March, William Powers, “Sleeping With the Enemy”, in The Atlantic:

Microfinance, once a relative cottage industry championed by antipoverty activists and development wonks, is on the verge of a revolution, with billions of dollars from big banks, private-equity shops and pension funds pouring in.

2008 June 5, Barbara Kiviat, “The Big Trouble In Small Loans”, in Time, archived from the original on 2011-02-09:

Remote and difficult to access, many villages in China’s interior have developed a criminal cottage industry, involving anything from drugs to internet fraud to counterfeiting.

2017 April, Robert Foyle Hunwick, “Big in China: Murder Villages and Scam Towns”, in The Atlantic:

(by extension) A small-scale industry, with relatively few employees or a limited customer base or low economic impact.


utile

From Middle French utile, from Old French utele, from Latin ūtilis.

Rational agents always maximize the number of utiles procured; that is, they will always choose those outcomes which promise to produce the most utiles.

2002, Louis Groarke, The Good Rebel: Understanding Freedom and Morality, →ISBN, page 29:

[T]he ‘happiness utile’ does not exist, at least not yet.

2006, "Economic Roundup Autumn 2006," www.treasury.gov.au (Australian Government Treasury) (retrieved 20 Oct 2013)

(economics) A theoretical unit of measure of utility, for indicating a supposed quantity of satisfaction derived from an economic transaction.


marginal

en-adj

marginal (not generally comparable, comparative more marginal, superlative most marginal)

more marginal (comparative)
most marginal (superlative)

Learned borrowing from Medieval Latin marginālis, equivalent to margin + -al.

լուսանցքային

of, relating to, or located at a margin or an edge

vaa’ankieli-

where the winning margin was a small proportion of the total number of votes

(economics, not comparable) Pertaining to changes resulting from a unit increase in production or consumption of a good.


util

(economics) A hypothetical unit measuring satisfaction.


steroidal

Weaning China off steroidal industrial policies that feel good in the short run but are toxic in the long run is the key to sustained, high-quality growth and reconciliation of international disputes.

2023, Keyu Jin, The New China Playbook, page 48:

(by extension, economics) Characterized by rapid growth, especially growth that is unsustainable or out of line with economic fundamentals or expectations.


illiberal

en-adj

illiberal (comparative more illiberal, superlative most illiberal)

more illiberal (comparative)
most illiberal (superlative)

From Middle French illibéral, from Latin illiberalis, equivalent to il- + liberal.

In the general atmosphere of lawlessness and arbitrariness the final outcome may be less harsh and unpleasant than might at first have been expected — though it can be a lot worse if you are an Albanian "irredentist", for example, or a Croatian "separatist", or if you happen to be undergoing trial and sentence in an illiberal republic like Bosnia or Hercegovina.

(economics, politics) Not adhering to either liberalism or neoliberalism.


pari passu

From Late Latin pari passu, from Latin parī, ablative of pār (“equal”) + passū, ablative of passus (“step”).


hypo

en-verb

hypo (third-person singular simple present hypos, present participle hypoing, simple past and past participle hypoed)

hypos (present singular third-person)
hypoing (participle present)
hypoed (participle past)
hypoed (past)

Clipping of various terms beginning with hypo-, from Ancient Greek ὑπό (hupó, “under”).

In the last three peacetime years before the Vietnam War expenditures began to hypo the economy, 1961, 1962, and 1963, unemployment in those years averaged six percent.

1971, Congressional Quarterly Weekly Report, volume 29, page 1727:

(transitive, economics) To stimulate or boost (the economy) by the injection of cash, such as with quantitative easing


trading

en-noun

trading (countable and uncountable, plural tradings)


equivalent variation

equivalent variation (plural equivalent variations)

(economics) The measure of how much money a consumer would pay before a price increase, to avoid the price increase.


ergonomics

/ˌɜɹ.ɡəˈnɑ.mɪks/

/ˌɜɹ.ɡəˈnɒ.mɪks/

From ergo- (prefix indicating work) + -nomics (suffix indicating the rules of a discipline), probably modelled after Polish ergonomia (“ergonomics”) (used by Polish scientist Wojciech Jastrzębowski (1799–1882) in an 1857 article), from Ancient Greek ἔργον (érgon, “work”) + νόμος (nómos, “custom; law, ordinance”). The English word is widely regarded as having been introduced by British psychologist K. F. Hywel Murrell at a meeting at the Admiralty in London in July 1949, which led to the establishment of the Ergonomics Research Society (now The Chartered Institute of Ergonomics and Human Factors) on 17 September 1949.

confix

As the titlepage of this latter portion of his work indicates, M. Courcelle Seneuil confines himself to political economy considered as a practical science, or, as he chooses to call it, to ergonomics.

1859 July 9, “Traite Theorique et Pratique d'Economie Politique. Par J. G. Courcelle Seneuil. Tome II. Partie Pratique, ou Ergonomie. Paris: Guillaumin et Cie. 1858.”, in The Economist, Weekly Commercial Times, Bankers' Gazette, and Railway Monitor: A Political, Literary, and General Newspaper, volume XVII, number 828, London: "Economist" Newspaper, →OCLC, page 760, column 1:


durable

/ˈdjʊəɹəbəl/

/ˈdʒʊəɹəbəl/

From Middle English durable, from Old French durable, from Latin dūrābilis (“lasting, permanent”), from dūrō (“harden, make hard”).

In a frictionless world with perfect rental markets, there is an unambiguous cost associated with the use of a durable for a single period.

1989, Robert A. Pollak, The theory of the cost-of-living index, page 188:

(economics) A durable thing, one useful over more than one period, especially a year.


SCO

(politics, economics) Shanghai Cooperation Organisation.


rationalization

en-noun

rationalization (countable and uncountable, plural rationalizations)

rationalizations (plural)
rationalisation (alternative)

/ˌræʃənəlaɪˈzeɪʃən/

First attested in 1831. From French rationalisation, equivalent to rational + -ization or rationalize + -ation.

It began with the familiar political motives of civil service rationalization and downsizing.

For socialism involves the reconstruction of industry upon the principle of production for use. It involves the rationalization of industry, the proper adjustment of production to the social requirements.

1915 May 18, John Spargo, The Annals of the American Academy of Political and Social Science, volume 59, page 160:

The former, technical rationalisation, is a question of improvements carried out within businesses by the managers, methods like scientific management, the rapidity with which machinery is scrapped, the supervision of labour, by the stop-watch method or any other method, and generally what we economists have been in the habit of calling "internal economies."

1930 September 18, Ian MacGregor, “Problems of Rationalisation”, in The Economic Journal, volume 40, number 159, page 351:

Rationalization includes partnership ventures, and if approved would mean capacity reductions in both sectors with thousands of steelworkers' jobs affected.

1980 December 10, “Steel industry changes sought”, in The Times, number 60798, London: News UK, →ISSN, →OCLC, page 1:

He firmly believed that the only cure for unemployment was the revival of industry as a whole, and that private finance was the best spur and guide to rationalization. But the State would help.

2005 April 16, “On This Day: April 16, 1929”, in The Times, number 68363, London: News UK, →ISSN, →OCLC, page 81:

(economics) The reorganization of a company or organization in order to improve its efficiency through the reallocation of resources and changes in its workforce.


relativity

relativity (usually uncountable, plural relativities)

/ˌɹɛləˈtɪvɪti/

Albert Einstein
Annalen der Physik
Paul Drude

From relative (“connected to or depending on something else”) + -ity (suffix forming nouns from adjectives where the nouns refer to the properties, qualities, or states described by the adjectives). Sense 2.1 (“reliance of the nature of physical phenomena on the relative motion between an observer and the thing observed”) is a translation of German Relativität (“relativity”) used in the works of the German-American theoretical physicist Albert Einstein (1879–1955).
Morphologically relative + -ity

հարաբերականություն

principle that the laws of physics should be the same for all observers

(countable, chiefly in the plural) An evaluation of the similarities and differences between things; a comparison; hence, a difference in position or status between things; a disparity.

(economics, specifically) The difference in pay or positions between different employees in a business (internal relativity), or between different businesses (external relativity); a differential.


Malthusianism

en-noun

Malthusianism (countable and uncountable, plural Malthusianisms)

(economics) The viewpoint that the population will always grow faster than the food supply that it needs to survive and prosper.

馬爾薩斯主義 /马尔萨斯主义

the viewpoint that the population grows faster than the food supply


Fed

So what’s the Fed to do? It must manage interest rates without a working monetary policy compass.

2019 August 1, Mark Zandi, “Blame Trump for the Fed’s broken monetary policy compass”, in CNN:

(US, economics) Clipping of Federal Reserve (The Federal Reserve Board or System)


G

G (countable and uncountable, plural Gs)

government spending
government spending#English

(economics) Abbreviation of government spending.


K

Abbreviations.
# (Stenoscript) Abbreviation of counter, prefix counter-, sequence contr.

ng

prefix <i class="Latn mention" lang="en">counter-</i>, sequence contr.


North

English surname, from the adjective north. This is also translated from other surnames of the same meaning, such as Irish Mac an Ultaigh (“son of the Ulsterman”), Ulster being the northern part of Ireland.

In economic terms, the North controls four-fifths of the income earned anywhere in the world.

The northern part of a region (alternative letter-case form of north), especially:

(politics, economics) A group of countries mainly lying north of the equator, including most of the West and the First World and much of the Second World.


rivalry

en-noun

rivalry (countable and uncountable, plural rivalries)

Common goods are those which are rivalrous in consumption but non-excludable

2013 December 2 (last accessed), Department of Economics, University of Pittsburgh, at Johnstown, “Public Goods”, in (Please provide the book title or journal name), archived from the original on 2015-05-05:

(economics) The characteristic of being a rivalrous good, such that it can be consumed or used by only one person at a time.


RIC

(politics, economics) Initialism of Russia, India and China (trilateral summit).


opportunity cost

opportunity cost (plural opportunity costs)

Implicit in this fixation with time is the thesis that the opportunity cost of regular shopping is too high – that the hours spent driving to the better bookstore in the next town can be spent doing something more valuable.

2019 November 21, Samanth Subramanian, “How our home delivery habit reshaped the world”, in The Guardian:

Thanks to business school, I can understand how I've actually paid for this time at home with my family—the opportunity cost of my time, my forgone income, etc.

2004 June 7, “Jeff Pillet-Shore: Second Year Winds Down”, in BusinessWeek, retrieved 2008-10-30:

(economics) The cost of an opportunity forgone (and the loss of the benefits that could be received from that opportunity); the most valuable forgone alternative.

այլընտրանքային ծախս

cost of something in terms of an opportunity forgone


APA

(economics) Initialism of asset purchase agreement.