multiplier

There is a second-round effect of crowding in higher private investment as public sector contractors tool up to meet the public contracts, and then a third – as all firms adjust to the higher level of demand by raising business investment levels – of more crowding in and so-called “multiplier effects”.

2024 November 3, Will Hutton, “Investment drives growth. That’s why gloomy forecasters are so wrong about the budget”, in The Guardian:

(economics) A ratio used to estimate total economic effect for a variety of economic activities.


EC

European Commission
w:European Commission

(politics, economics) Initialism of European Commission.


PMI

en-noun

PMI (countable and uncountable, plural PMIs)

Purchasing Managers Index
w:Purchasing Managers Index

(economics) Initialism of Purchasing Managers Index.

private mortgage insurance
private mortgage insurance#English

(economics) Initialism of private mortgage insurance.


FTA

FTA (countable and uncountable, plural FTAs)

(economics) Initialism of free trade agreement.


FTA

w:Canada–United States Free Trade Agreement

(economics, Canada, US) Abbreviation of Free Trade Agreement (between Canada and the United States)


PPI

producer price index
w:producer price index

(economics) Initialism of producer price index.


homothetic

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

homoteettinen

economics: depending on the ratio of prices

(economics) in which the ratio of goods demanded depends only on the ratio of their prices


PPB

(economics) Initialism of production-possibility boundary.


SAP

SAP (countable and uncountable, plural SAPs)

structural adjustment
structural adjustment#English

(economics) Initialism of structural adjustment program.


commodity

commodity (countable and uncountable, plural commodities)

commodities (plural)
commoditie (alternative archaic)

→ Bulgarian: комодити (komoditi)

→ Czech: komodita

→ Indonesian: komoditas

→ Japanese: コモディティ (komoditi)

→ French: commodité

→ Portuguese: comódite

desc

→ Russian: коммодити (kommoditi), коммодитиз (kommoditiz)

→ Slovak: komodita

From Middle English commoditee, from Anglo-Norman commoditee, from Latin commoditās.

The price of crude oil is determined in continuous trading between professional players in World's many commodities exchanges.

(economics) Raw materials, agricultural and other primary products as objects of large-scale trading in specialized exchanges.


Threadneedle Street

Corruption of "three needle", from the arms of the Needle-makers' Company. Influenced by threading a needle.

George, known as Steady Eddie during his 10 years in charge at Threadneedle Street, said critics who attacked the Financial Services Authority were also wide of the mark.

2008 March 6, “Eddie George defends role of FSA in Northern Rock crisis”, in The Guardian:

Monetary policy may not be perfect, but it has been far better handled since the responsibility for it moved from 11 Downing Street to Threadneedle Street.

2007 December 11, Patrick Hosking, “Gieve’s head will not be enough to appease critics”, in The Times:

The Bank of England cut 0.25 per cent at each meeting - the same decision, spread over two months. Strip out that and Frankfurt and Threadneedle Street have been running the same policy for a year and a half.

2002 November 10, Faisal Islam, “Doing the Continental”, in The Observer:

(British, economics, banking, finance) The Bank of England.


competitive

en-adj

competitive (comparative more competitive, superlative most competitive)

more competitive (comparative)
most competitive (superlative)

[kəmˈpɛɾəɾɪv]

/ˈkɒmpəʈɪʈɪv/

From Latin competītus (past participle of competere) + -ive.

(economics) Capable of competing successfully.

rəqabətdavamlı

economics: capable of competing successfully


on strike

(business, economics, idiomatic) Withholding labor as a protest, in order to effect change in management or government.


race to the bottom

en-noun

race to the bottom (plural races to the bottom)

(economics) A situation in which competition between governments leads to very excessive (harmful) deregulation.


pay-as-you-go

From pay + as you go (“while one progresses”).

com

(economics) A financial policy by which capital projects are financed from current revenue in the operating budget rather than through borrowing.


supply-side economics

(economics) A branch of economics that focuses on the supply side of the economy and on tax reductions.


supply side

(economics) In a market trade, the side where the supply comes from.


supply-side

en-adj

supply-side (comparative more supply-side, superlative most supply-side)

more supply-side (comparative)
most supply-side (superlative)

Coordinate term: demand-side

Brown told her that she sounded very supply-side, but what about that memo to Muskie, which had recently surfaced, denouncing supply-siders as a “right-wing claque”?

1984, Peter Craig Roberts, The Supply-Side Revolution: An Insider’s Account of Policymaking in Washington, →ISBN, page 66:

While the George W. Bush tax cuts were supply-side in principle, a look at the provisions doesn’t support the progressive argument that they favored the rich at the expense of the poor.

2009, George Melloan, The Great Money Binge: Spending Our Way to Socialism, →ISBN, page 99:

Born out of a history of highly supply-side interventions, these programs lacked targeting and analysis of the local relevant determinants of malnutrition, and did not have a cost-eff ective impact on malnutrition […]

2014, Learning from World Bank History: Agriculture and Food-Based Approaches for Addressing Malnutrition, World Bank, page 6:

(economics) Regarding or promoting the supply side of the economy.


Federal Reserve

the Federal Reserve (canonical)
Fed (alternative clipping)

(US, economics) The Federal Reserve System.

(US, economics) The Federal Reserve Board.


indicator

From Late Latin indicātor (“one who points out”), from Latin indicō (“point out”). By surface analysis, indicate + -or; see indicate.

der

(economics) A measure, such as unemployment rate, which can be used to predict economic trends.


single currency

(economics) The unified currency proposed for all EU states, in which it became the Euro.


normalization

en-noun

normalization (countable and uncountable, plural normalizations)

normalizations (plural)
normalisation (alternative UK)

[ˌnoː.məˌlɑɪˈzæɪ.ʃn̩]

From normal + -ization or normalize + -ation.

(economics) Globalization, the process of making a worldwide normal and dominant model of production and consumption.


incentivize

en-verb

incentivize (third-person singular simple present incentivizes, present participle incentivizing, simple past and past participle incentivized)

tlb

(American spelling, Oxford British English)

incentivizes (present singular third-person)
incentivizing (participle present)
incentivized (participle past)
incentivized (past)
incentivise (alternative)

The US government seeks to incentivize home ownership through a favorable tax system.

City staff are recommending ways Toronto can incentivize the construction of 20,000 purpose-built rental homes.

2024 October 30, Ethan Lang, “Toronto council to consider rental development incentives”, in CBC.ca:

(transitive, business, economics) To provide incentives for; to encourage.

begünstigen

to provide incentives for (a behavior or action)

They effectively incentivized people to overinvest in home ownership.

(transitive, business, economics) To provide incentives to.

Anreize schaffen

to provide incentives to (a person or organization)


exogenous

(economics, of a model) Being or relating to a change that comes from outside the model and is not explained by the model.

exogenní

An exogenous change is one that comes from outside the model and is not explained by the model.


FGI

(economics) Initialism of finished goods inventory.


devaluation

en-noun

devaluation (countable and uncountable, plural devaluations)

(economics) The intentional or deliberate lowering of a currency's value compared to another country's currency or a standard value (e.g. the price of gold).


dolour

dolour (countable and uncountable, plural dolours)

From Middle English dolour (“physical pain, agony, suffering; painful disease; anguish, grief, misery, sorrow; grieving for sins, contrition; hardship, misery, trouble; cause of grief or suffering, affliction”) [and other forms], from Anglo-Norman dolour, Old French dolour, dolor, dulur (“pain”) (modern French douleur (“pain; distress”)), from Latin dolor (“ache, hurt, pain; anguish, grief, sorrow; anger, indignation, resentment”), from doleō (“to hurt, suffer physical pain; to deplore, grieve, lament”) (ultimately from Proto-Indo-European *delh₁- (“to divide, split”)) + -or (suffix forming third-declension masculine abstract nouns). The English word is a doublet of dol.

der

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

1986, Rosemarie Tong, Ethics in Policy Analysis (Occupational Ethics Series), Englewood Cliffs, N.J.: Prentice-Hall, →ISBN, page 16:

(countable, economics, ethics) In economics and utilitarianism: a unit of pain used to theoretically weigh people's outcomes.


recovery

en-noun

recovery (countable and uncountable, plural recoveries)

recoveries (plural)
recovre (alternative)

From Middle English recoveree, from Old French recovree, from recovrer (“recover”).

Byford said: "There is no UK recovery from the pandemic without a London recovery, and there is no London recovery without a properly funded transport network.

2022 January 12, “Network News: Further extension to Transport for London emergency funding”, in RAIL, number 948, page 8:

(economics) Renewed growth after a slump.


downmarket

en-adj

downmarket (comparative more downmarket, superlative most downmarket)

more downmarket (comparative)
most downmarket (superlative)

Near-synonym: low-end

(economics) Designed for low-income consumers.


latte factor

In reference to coffee as a typical recurring purchase.

(economics) The phenomenon whereby many small purchases add up to a significant expenditure over time.


monopolist

"Well, my love, that is all very true," replied Louisa, colouring with the consciousness of being a great monopolist; "but I cannot help fearing more pain will arise to you eventually than the pleasure is worth;...

1838 (date written), L[etitia] E[lizabeth] L[andon], chapter XVII, in Lady Anne Granard; or, Keeping up Appearances. […], volume I, London: Henry Colburn, […], published 1842, →OCLC, page 214:

One who has, or attempts to acquire, a monopoly on something.

inhisarçı

one who has, or attempts to acquire, a monopoly on something


gold standard

In countries that accepted the gold standard, currency could be exchanged at a bank for a fixed weight of gold.

2002, Philip Ball, The Elements: A Very Short Introduction, Oxford, published 2004, page 57:

(economics) A monetary system where the value of circulating money is linked to the value of gold.


horizontal integration

en-noun

horizontal integration (countable and uncountable, plural horizontal integrations)

This process of vertical and horizontal integration has resulted in consolidation of control over basic transformation technologies used in the genetic modification of crops; control over proprietary traits; and control over the elite germplasm resources for many of the world's most important commercial crops.

2003, Rachel Schurman, Dennis D. Kelso, chapter 1, in Engineering trouble: biotechnology and its discontents, →ISBN, page 28:

(economics) The integrating of identical stages in the production or marketing process under the ownership or control of a single management organization.


vertical integration

vertical integration (countable and uncountable, plural vertical integrations)

The prevailing wisdom today is that any benefits of vertical integration tend to be outweighed by the greater advantages of specializing in a narrow range of vertical activities.

2005, Robert M. Grant, chapter 13, in Contemporary strategy analysis, →ISBN, page 392:

(economics) The integrating of successive stages in the production and marketing process under the ownership or control of a single management organization.


business economics

(economics) The buying and selling of products from an economical viewpoint, dealing with the manufacture, distribution, and usage of the product.


odd lot

Everard liked to shop at the stores specializing in odd lots down by the docks, as he was a cheapskate.

(economics) A set of leftover goods, of a quantity less than an evenly divisible shippable unit, often sold at reduced price.


cash leakage

cash leakage (usually uncountable, plural cash leakages)

financial institution
financial institution

(economics) Money that flows out of the banking system to be held as currency rather than being deposited into some form of financial institution.


policy mix

(economics) the combination of fiscal and monetary policies, especially their perceived relative importance


static equilibrium

static equilibrium (plural static equilibriums or static equilibria)

static equilibriums (plural)
static equilibria (plural)

(economics) A market in which demand and supply are the same.

equilibrio statico

a market in which demand and supply are the same


involution

involution (countable and uncountable, plural involutions)

(economics, social sciences, of a society or nation) A cessation of development or progress despite intense inner competition.

內卷 /内卷

a cessation of development or progress despite intense inner competition


protectionism

protectionism (countable and uncountable, plural protectionisms)

/pɹəˈtɛkʃənɪzəm/

Borrowed from French protectionnisme. By surface analysis, protection + -ism.

(politics, economics) A system or policy of protecting the domestic producers of a product from foreign competition by imposing tariffs, quotas, duties or other barriers on importations.

proteksionizëm

a policy of protecting the domestic producers of a product by imposing tariffs, quotas or other barriers on imports


cameralist

From German Kameralist, from New Latin cameralista, from Medieval Latin cameralis + Latin -ista (“-ist”), from camera (“chamber”) (English camera), from Ancient Greek καμάρα (kamára). Sense is due to administrators in the royal chamber; compare political sense of cabinet.

(economics) An economist who strongly emphasizes political factors in recommending economic policy.


depress

en-verb

depress (third-person singular simple present depresses, present participle depressing, simple past and past participle depressed)

depresses (present singular third-person)
depressing (participle present)
depressed (participle past)
depressed (past)

From Middle English depressen, from Old French depresser, from Latin dēpressus, perfect participle of dēprimō (“to press down, to weigh down”), from dē- (“off, away, down, out”) + premō (“to press”).

af

Lower productivity will eventually depress wages.

Russia claims the proportion of the grain that went to the very poorest countries was less than 4%, but this ignores the fact that even if wealthier countries were buying the wheat, the extra supply was depressing the general price all countries were paying.

2023 July 20, Patrick Wintour, “What was the Black Sea grain deal and why did it collapse?”, in The Guardian:

(economics) To cause a depression or a decrease in parts of the economy.

laskea

to cause a depression or a decrease in parts of the economy


oligopoly

en-noun

oligopoly (countable and uncountable, plural oligopolies)

/ɒlɪˈɡɒpəli/

/ˌɑləˈɡɑpəli/

PIE word
 *h₃ligos
From oligo- (prefix meaning ‘few; several’) + -poly (suffix meaning ‘pertaining to the number of sellers in a market’), by analogy with monopoly.

confix

Because of the ease of collusion, particularly price fixing, duopolies and oligopolies easily produce outcomes as bad for the general public as outright monopolies.

For the sheep are falling into few and powerful hands; and these, if they have not a monopoly, have at least an oligopoly, and can keep up the price.

1866 October 1, Frederic Seebohm, “The Oxford Reformers of 1498. Chapter VII.”, in George Henry Lewes, editor, The Fortnightly Review, volume VI, number XXXIV, London: Chapman and Hall, […], →OCLC, section 3 ([Thomas] More Drawn into Court. His Introduction to the “Utopia” (1516)), page 489:

[Thomas] More makes an antithesis between monopolium and oligopolium. We have ‘monopoly,’ but not ‘oligopoly’ (the sale by a few), and so cannot preserve the point of the sentence.

[1895, J[oseph] H[irst] Lupton, “The Fyrste Boke of the Communycacion of Raphaell Hythlodaye Concernynge the Best State of a Commenwealthe”, in Thomas More, translated by Ralph Robynson, The Utopia of Sir Thomas More: In Latin from the Edition of March 1518, and in English from the First Edition of Ralph Robynson’s Translation in 1551 […], Oxford, Oxfordshire: Clarendon Press, →OCLC, footnote 2, page 55, column 2:

An embarrassing infelicity is the use of Russianised consonants, where for six of the consonants, an additional set is made by supersigns, representing the letter h. […] The specialist offices have it all to themselves; not a 'monopoly’, but an ‘oligopoly’, if we may coin the term.

1907 April, G. Macloskie, “[General Literature.] The Gospel of Matthew in Esperanto.—La Evangelio Sankta Mateo lau Dro. Martin Luther Tradukita en la Lingvon Internacian Esperanto de W. B. Mielck kaj Fr. Stephan, kun Antauparolo de Lic. Dr. Alfred Jeremias Pastro de la Lutheran-preghejo kaj Docento de la Universitato en Leipzig. Leipzig, 1906. J. C. Hinrichs. pp. vii, 66. [book review]”, in The Princeton Theological Review, volume V, number 2, Princeton, N.J.: Princeton University Press, →ISSN, →OCLC, page 352:

The major difference between pure and differentiated oligopoly cases is that in pure oligopolies less "shock" is needed to alter the organization of the market.

1967, John C. Narver, “The Competitive Effects of Conglomerate Mergers”, in Conglomerate Mergers and Market Competition (Publications of the Institute of Business and Economic Research, University of California), Berkeley, Los Angeles, Calif.: University of California Press, published 1969, →OCLC, page 126:

Although the power source had shifted from the king's near monopoly into an elite oligopoly, the masses were still afflicted when they sought wood fuel. But through the oligopoly, charcoal fuel proliferated throughout London's trades and industries. By the 1200s, brewers and bakers, tile makers, glassblowers, pottery producers, and a range of other craftsmen all became hour-to-hour consumers of charcoal. This only magnified the indispensable nature of the oligopolists.

2006 September, Edwin Black, “Power Struggle”, in Internal Combustion: How Corporations and Governments Addicted the World to Oil and Derailed the Alternatives, New York, N.Y.: St. Martin’s Press, →ISBN, page 16:

By the late 1930s, however, the major film companies had consolidated their status as vertically-integrated oligopolies that dominated movie production, distribution and exhibition.

2016, Iwan Morgan, “Introduction: Hollywood and the Great Depression”, in Iwan Morgan, Philip John Davies, editors, Hollywood and the Great Depression: American Film, Politics and Society in the 1930s, Edinburgh: Edinburgh University Press, →ISBN:

Not only does the tech oligopoly seamlessly record our preferences, habits, and choices, it also uses that data to guide our future choices, rendering us increasingly useful to the tech companies and useless to ourselves.

2022 October 28, Malcolm Harris, “Are We Living Under ‘Technofeudalism’?”, in New York Magazine:

(economics) An economic condition in which a small number of sellers exert control over the market of a commodity.


elasticity

en-noun

elasticity (countable and uncountable, plural elasticities)

If the sales of an item drop by 5% when the price increases by 10%, its price elasticity is −0.5.

Given elasticity of demand, there is a strong argument that filling the millions of empty seats through lower fares could actually increase revenue.

2022 November 30, Anthony Lambert, “Rail fares fit for the 21st century”, in RAIL, number 971, page 43:

(economics) The sensitivity of changes in a quantity with respect to changes in another quantity.

առաձգականություն

economics: sensitivity of a variable to changes in another variable


metallist

No economist, with the possible exception of the most doctrinaire metallists, have ever expressed any other opinion. --American Economic Review (1938) 28, p. 316

While not all Jacksonians were Metallists, or vice versa, the Jacksonian Metallists sought to purge the currency of small bank notes and replace them with gold and silver coins. --Exploring Economic History (1974) 11, p. 228

The authors argue that Ricardo, unlike Marx, was no ‘metallist’, that is, he never applied the labour theory of value to the monetary metal to determine the general price level. --Economic Journal (1991) 101, p. 407

(economics) An advocate of metal coinage as the principal or sole currency.


wildcat strike

From wildcat (“illegal, risky”) + strike.

Organized workers must have their strike backed by the union. If the employer can bargain with his workers only through the union, the workers must also use the same channel. Hence "wildcat" strikes are outlawed, unless the circumstances are so unusual that the unions have ceased really to represent the workers and are repudiated by them.

1963, Austin Fagothey, “Work and Wages”, in Right and Reason: Ethics in Theory and Practice, 3rd edition, St. Louis, Mo.: C. V. Mosby Company, →OCLC, page 399:

It [the Taft–Hartley Act] labels certain union practices as "unfair" and permits the NLRB [National Labor Relations Board] to take action to stop them. These unfair practices include wildcat strikes (walking off the job without taking a strike vote), sympathy strikes (striking to demonstrate support of strikers in another company), jurisdictional strikes (disputes between unions over their right to represent workers), secondary boycotts (refusal of workers to handle goods made by some other company whose workers are striking), and featherbedding (requiring an employer to use unnecessary labor).

1969, George G. Bruntz, John Bremer, “Labor Policy and Social Security”, in American Government, Boston, Mass.: Ginn and Company, →OCLC, unit IX (Government and the General Welfare), page 478:

Despite the progressive provisions of the 1974 labor agreement, there were more wildcat strikes in the bituminous coal industry in 1974 than ever before in history. The record in 1975 was worse than in 1974; in 1976 it was worse than in 1975; and 1977 is headed toward yet another record high in wildcat strike activity.

1977 September 23, “Statement of the National Association of Manufacturers on Amendments to the National Labor Relations Act Presented to the Subcommittee on Labor of the Committee on Human Resources, U.S. Senate, September 23, 1977”, in Labor Reform Act of 1977: Hearings before the Subcommittee on Labor of the Committee on Human Resources, United States Senate, Ninety-fifth Congress, First Session, on S. 1883 to Amend the National Labor Relations Act to Strengthen the Remedies and Expedite the Procedures under such Act and Related Bills […] Part 1 […], Washington, D.C.: Government Printing Office, →OCLC, page 691:

The wildcat strike differs considerably from authorized strikes. In the first place, the wildcat generally comes as a complete surprise, while management is usually notified well in advance when an authorized strike is to take place. [...] Once the walkout starts, the supervisor’s labor relations job is twofold: to prevent the wildcat strike’s spread; and to put into writing information that would support the company’s discipline of wildcatters as set forth in the contract and in law.

1984, “The Foreman/Supervisor’s Role in Labor Relations”, in Carl Heyel, H. W. Nance, editors, The Foreman/Supervisor’s Handbook, 5th edition, New York, N.Y.: Van Nostrand Reinhold Company, →DOI, →ISBN, section 4 (Cooperative Personnel Responsibilities), page 410:

During the past two decades, as the incidence of industrial disputes, wildcat strikes, and mass workers' disputes became widespread in China, the question of union organisation has drawn increasing attention both at home and abroad.

2007, Jie Shen, “Trade Unions”, in Labour Disputes and Their Resolution in China (Chandos Asian Studies Series: Contemporary Issues and Trends), Stanton Harcourt, Oxfordshire: Chandos Publishing, →ISBN, page 63:

(organized labor) A labor strike that has not been authorized by the leaders of a trade union.

vaga salvatge

labour strike not authorized by the leaders of a trade union


inelastic

en-adj

inelastic (comparative more inelastic, superlative most inelastic)

more inelastic (comparative)
most inelastic (superlative)

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

perfectly inelastic supply

A different approach is needed now, as there is more discretionary travel which, unlike the use of season tickets, does not have inelastic demand characteristics.

2023 April 3, 'Industry Insider', “Passengers returning to rail”, in RAIL, number 1006, page 68:

(economics) Insensitive to changes in price.


quasi-rent

(economics) The income earned, in excess of post-investment opportunity cost, by a sunk cost investment.


leakage

en-noun

leakage (countable and uncountable, plural leakages)

(economics) The loss of revenue generated by tourism to the economies of other countries.


inflated

en-adj

inflated (comparative more inflated, superlative most inflated)

more inflated (comparative)
most inflated (superlative)

His inflated prices made the vendor unpopular.

Apprenticeship programmes supply the industry with an ongoing cohort of qualified talent. It is much cheaper to train new people than to pay inflated wages to attract existing talent. Apprenticeships are also a useful way of teaching the practical, hands-on skills that the modern railway needs.

2023 March 8, Neil Robertson, “Tackling the skills shortage”, in RAIL, number 978, page 33:


austerity

en-noun

austerity (countable and uncountable, plural austerities)

comfort

antonym(s) of “severity of manners or life”

From Ancient Greek αὐστηρότης (austērótēs, “bitter, harsh”). Morphologically austere + -ity.

uder

He said France clearly wanted to "close one page and open another". He reiterated his opposition to austerity alone as the only way out of Europe's crisis: "My final duty, and I know I'm being watched from beyond our borders, is to put Europe back on the path of growth and employment."

2012 April 23, Angelique Chrisafis, “François Hollande on top but far right scores record result in French election”, in the Guardian:

(economics) A policy of deficit-cutting, which by definition requires lower spending, higher taxes, or both.

austeritat

policy of deficit-cutting: reduce spending and/or raise taxes


straddle

en-verb

straddle (third-person singular simple present straddles, present participle straddling, simple past and past participle straddled)

straddles (present singular third-person)
straddling (participle present)
straddled (participle past)
straddled (past)

As a verb, attested since the 1560s. Most likely, an alteration of dialectal striddle. The noun is first attested in the 1610s.

(economics) To execute a commodities market spread.


ration

From French ration. Doublet of reason and ratio.

The corn ration was drastically reduced, and it was announced that an extra potato ration would be issued to make up for it.

1943 November – 1944 February (date written; published 1945 August 17), George Orwell [pseudonym; Eric Arthur Blair], Animal Farm […], London: Secker & Warburg, published May 1962, →OCLC:

A portion of some limited resource, especially food, allocated to a person or group.


liberalization

en-noun

liberalization (countable and uncountable, plural liberalizations)

liberalizations (plural)
liberalisation (alternative)

From liberalize + -ation or liberal + -ization.

(economics) the lessening of government regulations and restrictions in an economy in exchange for greater participation by private entitiesᵂᵖ


price gouging

price gouging (usually uncountable, plural price gougings)

The farmers aren't really guilty of price gouging, but they are trying to recoup some of their losses from the flooding earlier this spring.

(business, economics) The act of or an instance of charging services or pricing goods at unreasonably high prices.


nosedive

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

Byers was frequently at odds with Rail Regulator Sir Tom Winsor, but quit after 11 months - his career took a nosedive when he admitted false claims for £125,000 expenses, and he was banned from the House of Commons for two years.

2022 April 6, Howard Johnston, “SRA: Lets not make the same mistakes with GBR”, in RAIL, number 954, page 34:

(economics, etc.) A rapid fall, e.g. in price or value.


transaction utility

transaction utility (countable and uncountable, plural transaction utilities)

(economics, marketing) The perceived value of getting a good deal; the difference between the amount paid and a notional reference price.


monopsony

From Ancient Greek μόνος (mónos, “alone, solitary; singular, unique”) + ὀψωνέω (opsōnéō, “to buy fish or victuals in general”) + -y, modelled after monopoly. ὀψωνέω is from ὄψον (ópson, “delicacies”) + ὠνέομαι (ōnéomai, “to buy, purchase”). The English word was coined by British classics scholar Bertrand Hallward (1901–2003), and popularized by British economist Joan Robinson (1903–1983) in her book The Economics of Imperfect Competition (1933): see the quotation.

der

Our next task is to consider the change in the amount of a commodity purchased when the market changes from an indefinitely large number of competing buyers to a single buying agency. This may be described as the comparison between competitive and monopsony buying, just as the corresponding comparison for selling was called the comparison between competitive and monopoly output.

1933, Joan Robinson, “Monopsony”, in The Economics of Imperfect Competition, London: Macmillan and Co., Limited […], →OCLC, section 2, page 219:

It appears to follow that employment, far from falling, may be raised by an adroitly contrived legal minimum wage or collective agreement. Indeed, this proposition is an important one in the theory of both wage regulation and trade unionism. Its applicability is sometimes limited, however, even when monopsony is significant, by the danger that the employer may be driven out of business completely, as when, because of his own irremediable inefficiency or other objective disadvantages, monopsony profit achieved at his workers' expense is the differential between hanging on and outright failure.

1971, Martin Bronfenbrenner, “Imperfect Competition and Exploitation”, in Income Distribution Theory (Aldine Treatises in Modern Economics), Chicago, Ill.: Aldine-Atherton, →ISBN; republished Piscataway, N.J.: AldineTransaction, Transaction Publishers, 2007 (2009 (2nd paperback) printing), →ISBN, pages 193–194:

Examples of monopsonies are few. One limited monopsony is the U.S. federal government, which orders certain defense and security systems often with the condition that it be the sole client to be delivered the product, thus a monopsony. […] Indeed, any government is a natural monopsony, at least in some areas. Absolutist, state-run economies, like [Joseph] Stalin's Soviet Union or North Korea, are dominated by monopolies and monopsonies, which often are granted to cronies by those in power. […] In today's commercial markets, there are next to no true large monopsonies.

2007, Stephen G. Hannaford, “Oligopolies and Oligopsonies”, in Market Domination!: The Impact of Industry Consolidation on Competition, Innovation, and Consumer Choice, Westport, Conn.: Praeger Publishers, Greenwood Publishing Group, →ISBN, page 15:

For purposes of evaluating monopsony cases from the standpoint of economic efficiency, it makes sense to adopt a "purpose"-oriented classification system. After all, all monopsony cases can be reduced to either a unilateral or collusive use of buying power in order to promote the interests of the buyer.

2010, Roger D. Blair, Jeffrey L. Harrison, “The Antitrust Laws and Monopsonistic Forms of Conduct”, in Monopsony in Law and Economics, Cambridge: Cambridge University Press, →ISBN, section 2.4 (A Taxonomy of Monopsony Cases), page 29:

(economics) A market situation in which there is only one buyer for a product.

մոնոպսոնիա

market situation in which there is only buyer for a product

The result is different when the resource buyer is a monopsony. The monopsony firm is a single buyer, and therefore it faces the market supply curve.

1978, Roger K. Chisholm, Marilu Hurt McCarty, Principles of Microeconomics, Glenview, Ill.: Scott, Foresman, →ISBN, page 344:

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: American regulators should block Comcast’s proposed deal with Time Warner Cable”, in The Economist, volume 410, number 8878, archived from the original on 2014-03-14:

Network Rail is a monopsony (the sole buyer in a particular market) and must be careful not to exploit that position.

2020 November 4, Christian Wolmar, “Hubble trouble: we need co-operation on innovation...”, in Rail, page 49:

(economics) A buyer with disproportionate power.


liquidity

en-noun

liquidity (countable and uncountable, plural liquidities)

From liquid + -ity, from Latin liquiditas.

Some stocks are traded so rarely that they lack liquidity.

(economics, countable) An asset's property of being able to be sold without affecting its value; the degree to which it can be easily converted into cash.

իրացվելիություն

property of being able to be easily converted into cash


dumping

dumping (countable and uncountable, plural dumpings)

→ Catalan: dumping, dúmping

→ Dutch: dumping

→ Finnish: dumping

→ French: dumping

→ German: Dumping

→ Hungarian: dömping

→ Indonesian: dumping

→ Italian: dumping

→ Japanese: ダンピング (danpingu)

→ Korean: 덤핑 (deomping)

→ Portuguese: dumping

→ Romanian: dumping

→ Spanish: dumping

→ Turkish: damping

(economics, trading) Selling goods at less than their normal price, or even at a loss, especially in the export market as a means of securing a monopoly.

дъмпинг

selling goods at less than their normal price, especially in the export market


rigidity

rigidity (countable and uncountable, plural rigidities)

/ɹɪˈd͡ʒɪdɪti/

From rigid + -ity, from Latin rigiditas.

(economics) stickiness (of prices/wages etc.). Describing the tendency of prices and money wages to adjust to changes in the economy with a certain delay.


locomotive

/ˌləʊkəˈməʊtɪv/

From French locomotif, from Latin locō (literally “from a place”) (ablative of locus (“place”)) + Vulgar Latin mōtivus (“moving”) (see motive).
In the rail transport sense, ellipsis of locomotive (steam) engine, attested from 1814.

(economics) A country which drives the world economy by having a high level of imports, such as the United States.


money supply

(economics) The total amount of money (bills, coins, loans, credit, and other liquid instruments) in a particular economy.

貨幣供應量 /货币供应量

total amount of money in a particular economy


free market

The very notion of 'integrated transport' has always appalled the free market instincts of the Conservatives, and still does.

2021 March 10, Christian Wolmar, “Integrated transport: A lot is said but little is being done”, in RAIL, number 926, page 50:

(economics) Any market in which trade is unregulated by government; an economic system free from government intervention.

mercat lliure

competitive market where buyers and sellers can operate without restrictions


free trade

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

Near-synonyms: freedom of trade, economic freedom

Hidden behind thickets of acronyms and gorse bushes of detail, a new great game is under way across the globe.[…]The current power play consists of an extraordinary range of countries simultaneously sitting down to negotiate big free trade and investment agreements.

2013 July 19, Timothy Garton Ash, “Where Dr Pangloss meets Machiavelli”, in The Guardian Weekly, volume 189, number 6, page 18:

International trade without government interference, especially from tariffs or duties on imports.


hot money

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financial instrument
financial instrument

(slang, economics) Money, or other financial instruments, that moves regularly between different markets in search of the best interest rate.


appropriability

appropriability (countable and uncountable, plural appropriabilities)

(economics) The environmental factors that govern an innovator's ability to capture profits generated by an innovation.

apropriabilidade

the ability to profit from an innovation


dovish

en-adj

dovish (comparative more dovish, superlative most dovish)

more dovish (comparative)
most dovish (superlative)
doveish (alternative)

The Federal Reserve's statement on recent inflation was interpreted as dovish by the market.

A dovish policy keeps unemployment close to 6 percent and lets the price level swing more widely to absorb economic shocks.

1985, Price Stability and Public Policy, page 143:

By appearing more dovish than the central bank actually is, the trade-off it faces between stabilization of inflation and stabilization fo the output gap is likely to worsen.

2010, Jordi Galí, “The New-Keynesian Approach to Monetary Policy Analysis: Lessons and New Directions”, in Volker Wieland, editor, The Science and Practice of Monetary Policy Today, page 15:

(economics) Disfavoring increasing interest rates; inclined against increasing interest rates.


MMF

en-noun

MMF (countable and uncountable, plural MMFs)

money market fund
money market fund#English

(economics) Initialism of money market fund; a type of mutual fund.


marginal cost

(economics) The increase in cost that accompanies a unit increase in output; the unit cost of that additional output; the partial derivative of the cost function with respect to output.


marginal benefit

marginal benefit (plural marginal benefits)

The extra benefit received from a unit increase in the consumption of a good or service. It is calculated as the increase in total benefit divided by the increase in consumption.


EMU

EMU (countable and uncountable, plural EMUs)

economic and monetary union
w:economic and monetary union

(economics) Initialism of economic and monetary union.


game theory

(mathematics, economics) A branch of applied mathematics that studies strategic situations in which individuals or organisations choose various actions in an attempt to maximize their returns.

joku-teoria

mathematical study of strategic situations


theory of games

(mathematics, economics, dated) game theory.


game-theoretical

(mathematics, economics) Of, relating to, or defined in terms of game theory.

peliteoreettinen

of, relating to, or defined in terms of game theory


quantification

quantification (countable and uncountable, plural quantifications)

Coined by Scottish philosopher Sir William Hamilton: "quantification of the predicate".

(economics) The expression of an economic activity in monetary units.


upmarket

en-adj

upmarket (comparative more upmarket, superlative most upmarket)

more upmarket (comparative)
most upmarket (superlative)

Temperatures in the western suburbs of Sydney, far from the upmarket beachside glamour, reached 47C (117F) last week, topping the 44C I experienced there the week before. For reference, if it reached 47C in the middle of the Sahara desert, that would be an unusually hot day.

2017 February 20, Paul Mason, “Climate scepticism is a far-right badge of honour – even in sweltering Australia”, in the Guardian:

(economics) Designed for customers with a high income.


impacted

impacted (comparative more impacted, superlative most impacted)

more impacted (comparative)
most impacted (superlative)

Table A3-1 compares the capabilities of (1) impacted communities and school districts to finance capital improvements from their own resources […]

1983, United States. Bureau of Land Management. Colorado State Office, Green River - Hams Fork coal region: round two:

Like many of my colleagues, I represent one of the most highly impacted schools in the Nation. This school relies on the impact aid program.

2000, Congressional Record, V. 146, Pt. 6, May 10, 2000 to May 23, 2000:

(US, economics) Having lost property revenue due to Federal presence, such that it may receive impact aid.


bimetallism

en-noun

bimetallism (countable and uncountable, plural bimetallisms)

As in China, bi-metallism exacerbated rural unrest in Nguyen Vietnam.

2016, Christopher Goscha, The Penguin History of Modern Vietnam, Penguin, published 2017, page 34:

(economics) The use of a monetary standard based upon two different metals, traditionally gold and silver usually in a fixed ratio of values.


cliometrics

From Clio (“the Muse of history”) + -metrics.

The use of econometrics to study economic history.


collectivism

collectivism (countable and uncountable, plural collectivisms)

An economic system in which the means of production and distribution are owned and controlled by the people collectively

coleutivismu

A system in which the means are owned and controlled by people collectively


microeconomics

/ˌmaɪkɹəʊˌɛkəˈnɒnɪks/

/ˌmaɪkɹəʊˌiːkəˈnɒnɪks/

(economics) The field of economics that deals with small-scale economic activities such as those of an individual or company.

mikro-ekonomie

study of small-scale economic activities


autarky

autarky (countable and uncountable, plural autarkies)

autarkies (plural)
autarchie (alternative obsolete)
autarchy (alternative)

Borrowed from Ancient Greek αὐτᾰ́ρκειᾰ (autắrkeiă, “independence, self-sufficiency, autarky; satisfaction with one’s resources, contentment”) + English -y (suffix forming abstract nouns denoting a condition, quality, or state). Αὐτᾰ́ρκειᾰ (Autắrkeiă) is derived from αὐτάρκης (autárkēs, “self-sufficient; content with what one has”) + -ειᾰ (-eiă, suffix forming feminine nouns); while αὐτάρκης (autárkēs) is from αὐτο- (auto-, prefix meaning ‘self’) + ᾰ̓ρκέω (ărkéō, “to be enough for, satisfy, suffice; (passive) to be satisfied with”) (from Proto-Indo-European *h₂erk- (“to guard, protect; to hold; to lock”)) + -ης (-ēs, suffix forming third-declension adjectives).

autarki

(policy of) national economic self-sufficiency

封閉經濟 /封闭经济 (fēngbìjīngjì, literally “closed economy”)

閉鎖経済 (へいさけいざい, heisa keizai, literally “closed economy”)

폐쇄경제(閉鎖經濟) (pyeswaegyeongje, literally “closed economy”)

Selfe-ſufficiencie is the end.] To haue all things, and to vvant or deſire nothing, is Selfe-ſufficiencie, Ariſtot: Polit. Lib. 7. Cap. 5. This autarchie or ſelfe-ſufficiencie, is the end and the good contained in the forme of a Citie, and conſequently is the end of all other ſocieties.

1598, Aristotle, “What is a Citie: And that It Consisteth by Nature: And that Man is Naturally a Sociable and Ciuill Creature”, in I. D. [i.e., John Dee], transl., Aristotles Politiques, or Discourses of Government. […], London: […] Adam Islip, →OCLC, book I, page 13:

If it were proved that these objects, that is to say prosperity, power, economic independence, could be attained by a policy of effective and complete autarky, there is no doubt that it would soon be carried into effect; […] But be that as it may, autarky does not permit the attainment of the objects which we have just mentioned. In reality, autarky is nowhere put into application.

1938 October 17, Paul van Zeeland, Economics or Politics? A Lecture by Paul van Zeeland, formerly Prime Minister of Belgium […], Cambridge, Cambridgshire: University Press, published 1939, →OCLC, pages 23–24:

[T]he concept of autarky is premised on the existence of economic relations required to fulfill needs for non-self-sufficient goods through interchange with outside areas. In fact, a self-sufficient society in the strict sense of the term has never existed anywhere in the world since the dawn of human history. If "closing of the ports" is a monopolistic system for control of foreign relations by state authority through which that state authority can regulate by force the influx of goods and economic activity that might threaten the maintenance of its class control, it can only really be called a policy for achieving the economic autarky of the state.

1991, Katō Eiichi, “The Age of the Great Voyages and Japan’s ‘National Seclusion’”, in National Committee of Japanese Historians, editor, Historical Studies in Japan (VII) 1983–1987: Japan at the XVIIth International Congress of Historical Sciences in Madrid, Tokyo: Yamakawa Shuppansha; Leiden: E[vert] J[an] Brill, →ISBN, page 48:

So, although the origin of "political economy" is the household unit, this alone is not enough to meet all needs. The co-operative effort of large numbers of people is required to build irrigation systems, defences against enemies and so on. The village is a further natural development. A final development to meet greater needs is the polis itself, the city-state. The principle at work here is autarky (autos, "self" and arkeo, "suffice") or self-sufficiency.

2001, Rupert Woodfin, Judy Groves, illustrator, “The Purpose of the City State”, in Richard Appignanesi, editor, Introducing Aristotle (Introducing …), Thriplow, Cambridgeshire: Icon Books; [United States]: Totem Books, published 2002, →ISBN, page 140:

Autarky, as defended by the German school of Grossraumautarkie and today by the French Nobel prize recipient, Maurice Allais, is a response to globalist economics. The autarky of great spaces is no obsidional closure, but an exercise in contingency: only those things that can't be produced domestically are imported. […] At the same time, autarky resists the extremely fragile 'new economy', which comes with globalisation, limiting the participation of transnational firms and extra-European financial powers within the European economy.

2009, Guillaume Faye, “Metapolitical Dictionary [Autarky of Great Spaces]”, in Michael O’Meara, transl., edited by John B. Morgan, Why We Fight: Manifesto of the European Resistance, [London]: Arktos Media, →ISBN, page 82:

(uncountable) (A policy of) national economic self-sufficiency, aimed at ending reliance on foreign imports to sustain a domestic economy.

Does this mean that the era of autarkies and of economic nationalism is ended?

1948 May 13, Robert Lecourt, “L’Aube (Organ of the Popular Republican Movement)”, in [anonymous], transl., News from France, number 8, New York, N.Y.: Information Division, French Embassy, →OCLC, page 8:

Local government entities are not autarkies, they don't lead fully independent financial policies, but still they have sufficient flexibility at the municipal level in their investments to be able to quantify and monitor their performance.

2013, Piotr Arak et al., “How to Measure the Impact of Public Policies on Human Development?”, in National Human Development Report: Poland 2012: Local and Regional Development, Warsaw: UNDP Project Office in Poland, United Nations Development Programme, →ISBN, section 4.2 (Welfare: Inputs and Outcomes), page 121:

(countable) A self-sufficient country or region which is not dependent on international trade to function economically.

omavarainen

self-sufficient region or country which is not dependent on international trade to function economically


externalize

en-verb

externalize (third-person singular simple present externalizes, present participle externalizing, simple past and past participle externalized)

externalizes (present singular third-person)
externalizing (participle present)
externalized (participle past)
externalized (past)

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

Offering high-quality software as open-source externalizes benefits to a large community, but also externalizes much of the cost of testing and further development.

Operating a low-cost, high-pollution manufacturing process externalizes costs in the form of adverse human health consequences and ecosystem effects.

(economics) To direct to others, as costs or benefits.


normative economics

(economics) economic thought in which one applies moral beliefs, or judgment, claiming that an outcome is "good" or "bad". For example: "this tax on cigarettes will be good because it will reduce smoking."


overheat

overheat (third-person singular simple present overheats, present participle overheating, simple past and past participle overheated)

overheats (present singular third-person)
overheating (participle present)
overheated (participle past)
overheated (past)

/ˌəʊvəˈhiːt/

From Middle English overheten. Cognate with German überheizen, überhitzen (“to overheat”), Swedish överhetta (“to overheat”). By surface analysis, over- + heat.

Dalio said that the Chinese economy was in danger of overheating, and somebody asked how a Chinese slowdown would affect the price of oil and other commodities.

2011 July 18, John Cassidy, “Mastering the Machine”, in The New Yorker, →ISSN:

(economics) To grow too quickly in an uncontrolled way.


inside lag

(economics, banking) The amount of time it takes for the government or the central bank to respond to a shock in the economy.


minimum wage

en-noun

minimum wage (usually uncountable, plural minimum wages)

A part of the Bill went to interfere in the bargains made between the master manufacturer and his workmen, upon a principle which could not fail to produce the most mischievous consequences; and he could not help observing, with relation to this point, that the idea of some persons, that a minimum of wages would be beneficial to the workmen employed, was the most mistaken notion that had ever been conceived, for the inevitable consequence must be, that in the case of a slackness of work, the masters would discharge their workers altogether, rather than employ them at the minimum wages.

1812 July 25, [James Maitland, 8th] Earl of Lauderdale, “Frame Work Knitters’ Bill”, in T[homas] C[urson] Hansard, editor, The Parliamentary Debates […] (House of Lords), volume XXIII, London: […] T[homas] C[urson] Hansard, […]; for Longman, Hurst, Rees, Orme, & Brown; [et al.], →OCLC, columns 1248–1249:

The man who before found nothing to do now finds employment at some rate; while he who formerly worked for the minimum wages of mere labor will now, if energetic and skillful, find employment in some other capacity where his earnings will be largely increased.

1846 April, “Mr. [Robert James] Walker’s Report and Bill”, in George H[ooker] Colton, editor, The American Review: A Whig Journal of Politics, Literature, Art and Science, volume III, number IV, New York, N.Y.: George H. Colton, […], →OCLC, page 345, column 2:

The only remedy I can suggest is the adoption of a minimum wage for all employés in registered factories. […] If a minimum wage of, say, 2s. 6d. was required to be paid in all factories, the greatest evils of the so-called apprentice system would vanish.

1896 June 1, Harrison Ord, “The Sweating System”, in Report of the Chief Inspector of Factories, Work-rooms, and Shops, for the Year 1895. […], Melbourne, Vic.: Rob[er]t S. Brain, government printer, →OCLC, page 21:

The minimum-wage law, as it has been known in recent American discussion, and as it is usually understood in Great Britain, Australia, and New Zealand, does not refer to a law in which is fixed a single rate below which no worker may be employed, although such laws are in existence in most of the Australasian States. The minimum wage, as understood in this country and Great Britain, is a wage fixed by some agency created by law, after due investigation has been made.

1915 April, Cha[rle]s H[enry] Verrill, “Introduction and Summary”, in Minimum-wage Legislation in the United States and Foreign Countries (Bulletin of the United States Bureau of Labor Statistics; Miscellaneous Series; no. 8 (whole no. 167)), Washington, D.C.: Government Printing Office, →OCLC, page 6:

The subject of the hearing today is the question on the proposed changes in the federal minimum wage on small businesses and their employees. […] The Fair Labor Standards Act of 1938 established a federal minimum wage of 25 cents an hour for most workers. […] The current basic minimum wage is $5.15 an hour, with a lower wage for tipped employees, certain new hires under the age of 20 and full-time students who work part-time.

2004 April 29, Todd Akin, Would an Increase in the Federal Minimum Wage Help or Hinder Small Business? Hearing before the Subcommittee on Workforce, Empowerment & Government Programs of the Committee on Small Business, House of Representatives, One Hundred Eighth Congress, Second Session […] (Serial No. 108-61), Washington, D.C.: U.S. Government Printing Office, →ISBN, page 1:

Perhaps their most austere film, 1999’s Palme D'Or-winning Rosetta, tracks the feisty eponymous 17-year-old from a trailer park, where she lives with her alcoholic mother, to a food truck in the industrial wasteland of Seraing, Belgium. She makes less than the minimum wage, if she's lucky enough to work at all.

2012 March 15, Scott Tobias, “The Kid with a Bike [film review]”, in The A.V. Club, archived from the original on 2023-09-21:

At the store where I worked for minimum wage a few years ago, for instance, hours were capped at 39 a week. The company did that as a way to avoid providing the benefits that would kick in once one became a "full time" employee.

2016 February 16, Peter van Buren, quotee, “What Ordinary People Say”, in Anne C. Cunningham, editor, Critical Perspectives on the Minimum Wage, New York, N.Y.: Enslow Publishing, published 2017, →ISBN, page 148:

(economics) The lowest rate at which an employer must legally pay an employee, usually expressed as pay per hour.


detrending

(statistics, economics) The manipulation of data to remove long-term trends and thus emphasise short-term changes.


reductive

en-adj

reductive (comparative more reductive, superlative most reductive)

more reductive (comparative)
most reductive (superlative)

From Middle French réductif, from Late Latin reductivus, from the participle stem of Latin reducere (“to reduce”).

On the relative reductive powers of different classes of American coals, as demonstrated by the experiments with oxide of lead.

1848, F Knapp, Chemical Technology; Or, Chemistry Applied to the Arts and to Manufactures:

It is likely that the long evolutionary trajectory of Mycoplasma went from a reductive autotroph to oxidative heterotroph to a cell-wall–defective degenerate parasite. This evolutionary trajectory assumes the simplicity to complexity route of biogenesis, a point of view that is not universally accepted.

2013 March 18, Harold J. Morowitz, “The Smallest Cell”, in American Scientist, volume 101, number 2, archived from the original on 2017-01-04, page 83:

(chemistry, metallurgy, biology, economics) That reduces a substance etc. to a more simple or basic form.


standard of living

en-noun

standard of living (plural standards of living)

The level of income, comforts and services available to an individual, community or society.


confusopoly

From confuse + -opoly, coined by Scott Adams in The Dilbert Future.

Be aware that BT have just cut some prices, *and* introduced a new tariff that you can buy your way onto. Beware however that it's an even bigger confusopoly than it was before.

1999, David Marshall, “ADSL for 200 quid a month?”, in alt.dur.general (Usenet):

Instead of the power of monopoly, consumers lose to the power of confusopoly.

2001, Herbert Jack Rotfeld, Adventures in Misplaced Marketing:

One of the main reasons to have competition is that it leads to lower prices. So now we have a confusopoly where innumerable providers are all offering us special deals but actual prices are being kept artificially high.

2003, Stevie D, “Regulating privatised companies (rail versus telecom, water, electricity, gas)”, in uk.railway (Usenet):

(economics) An economic condition whereby the market force of competition is evaded via intentional obfuscation.


WENAO

(economics) Initialism of Western Europe, North America, Oceania.


duopoly

duopoly (countable and uncountable, plural duopolies)

duopolies (plural)
dyopoly (alternative)

PIE word
 *dwóh₁
From duo- (prefix meaning ‘two’) + -poly (suffix meaning ‘pertaining to the number of sellers in a market’), by analogy with monopoly.

confix

Modern examples of duopoly include the American markets for credit cards (Visa and MasterCard), smartphones (Apple and Google), soft drinks (Coca-Cola and Pepsi), and airplanes (Airbus and Boeing).

(economics) An economic condition in which two sellers exert most control over the market of a commodity.

احتكار ثنائي

economic condition in which two sellers exert (most of the) control over the market of a commodity


marginal cost of capital

en-noun

marginal cost of capital (countable and uncountable, plural marginal costs of capital)

(finance, economics) The cost of the marginal unit of capital that a firm could raise.


transfer earnings

factor of production
factor of production

(economics) The amount that a factor of production must be paid in order to prevent it from transferring to an alternative use.


skimming

skimming (countable and uncountable, plural skimmings)

What will be the unintended adverse effects of changes in payment? Will patient “skimming” lead to worse access for complex patients?

2013, Bernard Lo, Resolving Ethical Dilemmas: A Guide for Clinicians, page 229:

(uncountable, economics) Ellipsis of cream skimming.


market price

1776, Adam Smith, An Inquiry into the Nature and Causes of the Wealth of Nations: Book I: Chapter 7: Of the natural and market Price of Commodities
The actual price at which any commodity is commonly sold is called its market price. It may either be above, or below, or exactly the same with its natural price.

For those that chose to buy based on their usage (mainly non-franchised freight and open access operators), NR passes on the costs of electricity at the market price for that month, hence the significant increases being experienced by the likes of Freightliner.

2021 October 20, “Network News: How do operators buy electricity?”, in RAIL, number 942, page 7:

(economics) The price at which a product, financial instrument, service or other tradable item can be bought and sold at an open market; the going price.


time preference

time preference (countable and uncountable, plural time preferences)

(economics) A measure of the preference a consumer has for immediate enjoyment rather than enjoyment at a future time.


total revenue

(economics) The revenue from each item multiplied by the number of items sold


token economy

The supply of any token is also important in the operation of a token economy, as well as for the more fundamental issue of token valuation.

2019, Chris Brummer, Cryptoassets: Legal, Regulatory, and Monetary Perspectives, Oxford University Press, →ISBN, page 165:

(cryptocurrencies, economics) An economy based on cryptocurrency tokens.


sell-off

sell-offs (plural)
selloff (alternative)

The large-scale selling of goods or financial assets (e.g., real estate, equipment, stocks, bonds, subsidiaries).


equilibrium price

equilibrium price (plural equilibrium prices)

(economics) The price of a commodity at which the quantity that buyers wish to buy equals the quantity that sellers wish to sell.


price stability

(economics) A state of economy characterized by low inflation, and thus a stable value of money. Price stability is one of the central goals of most governments and central banks.


derivatives market

derivatives market (plural derivatives markets)

(economics) A market where various financial derivatives such as forwards, futures, options, and swaps are bought and sold.


overheating

overheating (countable and uncountable, plural overheatings)

(economics) The situation where the productive capacity of an economy is unable to keep pace with growing aggregate demand, generally characterised by a below-average rate of economic growth, where growth is occurring at an unsustainable rate.


sumptuary tax

The author seems favourable to a tax on dress, when, exceeding the limits of necessity and decency, it luxuriates in finery and ornament. A tax which should fall only on the superfluous embellishments, and costliness, of apparel would be a sumptuary tax, and might form a new source of supply to the necessities of the state, if an easy, simple, and economical mode of raising it could be devised. We have taxes on hats, and on hair-powder; and might not a salutary tax be levied on jewels and lace, and various other exterior decorations

1810, “[review of] What is the Influence of the different Species of Taxation on the Morality, the Activity, and the Industry of Nations? By M. de Monthion, formerly Counsellor of State. Paris”, in The Critical Review:

Although the influence of a very patriotic sumptuary tax has diminished the number of dogs, we have still “ thousands too many.”

1812, Thomas Tusser, Five Hundred Points of Good Husbandry, page 125:

I do not consider that the Carriage Tax is a tax intended to pay for the upkeep of the roads at all; I do not think that ever entered into the idea of it. I think it was a purely sumptuary tax intended to hit a luxury. / 14905. Like the Window Tax, which was also aimed at a supposed luxury ? / —Yes.

1906, “[testimony of] Sir Henry William Primrose, 8 Feb. 1906”, in Parliamentary Papers, House of Commons and Command:

A sumptuary tax is a tax whose effects are desired on moral or ethical grounds. It is levied on certain products or services the consumption of which is discouraged. Example of sumptuary taxes are those imposed on the production, sale, or consumption of tobacco products, alcoholic drinks, playing cards, billiard tables, cabaret admissions, and many others. A tax for regulatory purposes should be distinguished from sumptuary tax.

1982, Florentino G. Ayson, C. O. Resurreccion, The fundamentals of agrarian reform, page 173:

(economics, taxation) A government levy on goods considered to be socially undesirable goods or nonessential luxuries, most commonly alcohol and tobacco.


additionality

economic development
economic development

(economics) Net positive difference that results from economic development intervention. The extent to which an activity (and associated outputs, outcomes and impacts) is larger in scale, at a higher quality, takes place quicker, takes place at a different location, or takes place at all as a result of intervention. Additionality measures the net result, taking account of deadweight, leakage, displacement, substitution and economic multipliers.


capital account

capital account (plural capital accounts)

(economics) An account that records all transactions between domestic and foreign residents that involve a change of ownership of an asset. It is the net result of public and private international investment flowing in and out of a country.


market economy

market economy (plural market economies)

An economy in which goods and services are exchanged in a market, as opposed to a state-controlled economy.

اِقْتِصَاد اَلسُّوق

economy in which and services are exchanged in a free market


monetary impotence

(economics) The inability of GDP to respond to a change in the money supply or in interest rates


privatize

en-verb

privatize (third-person singular simple present privatizes, present participle privatizing, simple past and past participle privatized)

tlb

(American spelling, Oxford British English)

privatizes (present singular third-person)
privatizing (participle present)
privatized (participle past)
privatized (past)
privatise (alternative)

(economics) To release government control (of a business or industry) to private industry.

خَصْخَصَ

to release government control to private industry


national debt

en-noun

national debt (countable and uncountable, plural national debts)

The only reference to the national debt - the reduction of which was once a top priority for Republicans of all stripes - was a passing mention of the subject during a litany of Barack Obama's economic failings.

2017 March 1, Anthony Zurcher, “Trump addresses Congress: A kinder, gentler president”, in BBC News:

(economics) Any money owed by the government of a nation.


Goldilocks economy

Goldilocks economy (plural Goldilocks economies)

After the girl in the fairy tale who found one bowl of porridge too hot, one too cold, and one just right. The first use of this phrase is credited to David Shulman of Salomon Brothers, who wrote The Goldilocks Economy: Keeping the Bears at Bay in March 1992.

(economics) A not "too hot" or "too cold" economy, sustaining moderate economic growth and a low inflation allowing for a market-friendly monetary policy.

kultakutritalous

economy sustaining moderate growth and low inflation


stamp duty

stamp duty (countable and uncountable, plural stamp duties)

(economics) A tax levied upon certain documents, a stamp being applied to show that tax has been paid.


feebate

(economics, taxation) A tax or user charge imposed by government that charges users of socially undesirable items and applies the money to payments for users of socially desirable items.


deflator

(economics) A factor applied to economic statistics in order to counter the effect of inflation.


disintermediation

disintermediation (countable and uncountable, plural disintermediations)

Any disintermediation crisis, such as has occurred three times since 1966, causes mortgage money to dry up and slow down new housing construction which the country desperately needs.

1974 July 18, “Disintermediation”, in The New York Times, →ISSN:

(banking, finance, economics) The removal of funds from a financial institution such as a bank for direct purchase of financial instruments.


exchange rate

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

(economics, finance) The rate at which one currency may be exchanged for another currency.


neoclassical

en-adj

neoclassical (comparative more neoclassical, superlative most neoclassical)

more neoclassical (comparative)
most neoclassical (superlative)
neo-classical (alternative)

(economics) Of or relating to an approach that focuses on the determination of prices, outputs, and income distributions in markets through supply and demand.


EAU

Eurasian Economic Union
Eurasian Economic Union#English

(politics, economics) Initialism of Eurasian Economic Union.


NDP

en-noun

NDP (countable and uncountable, plural NDPs)

net domestic product
net domestic product#English

(economics, countable) Initialism of net domestic product.


decoupling

[diːˈkʊpəlɪŋɡ]

The act or process by which something is decoupled, as:

(economics) The disentangling of economic interdependencies.


tax shelter

(economics, finance) A legal structure that reduces tax liability for a person or the assets of that person.


trickle-down

In addition, it examines the trickle-down effects of economic development as espoused by market theorists in the urban economic development literature. Policymakers in Rockford used the trickle-down logic of market theory to justify a […]

2002, James L. Conyers, Black Cultures and Race Relations, Rowman & Littlefield, →ISBN, page 125:

While the trickle-down mechanism is based on market optimism (in a well-functioning economy, the poor will benefit automatically from any growth), proponents of direct and indirect policies targeting the poor are market-pessimists, in which […]

2007, Christian Schabbel, The Value Chain of Foreign Aid: Development, Poverty Reduction, and Regional Conditions, Springer Science & Business Media, →ISBN, page 200:

On the surface, the Kuznets curve seems to justify laissez-faire economics and trickle-down policies.

2012 April 30, Kentaro Toyama, “The Rise and Fall and Rise (Literally) of the Most Important Curve in Economics”, in The Atlantic:

(economics) Describing the theory that financial benefits given to the wealthy will somehow be passed down to the poor.


public good

public good (countable and uncountable, plural public goods)

(economics, countable) A good that is non-rivalrous and non-excludable.


gold bug

gold bugs (plural)
goldbug (alternative)

The swing in inflation scared him so much that he became a gold bug for a while.

(informal, economics) A person who is opposed to fiat currency and supports a return to the gold standard.


deflated

en-adj

deflated (comparative more deflated, superlative most deflated)

more deflated (comparative)
most deflated (superlative)

Among these relationships are the correlation for the years 1923-40 of personal saving and disposable personal income in current dollars, the correlation of deflated per capita saving with deflated per capita income, the correlation of saving with income and accumulated liquid assets on a deflated per capita basis, the correlation of deflated per capita saving with income and a cyclical variable such as the ratio of current to past peak income, and the correlation of the ratio of saving to income with a cyclical variable alone.

1949 September, Irwin Friend, “Personal Saving in the Postwar Period”, in Survey of Current Business, volume 29, number 9:

In general, the output measure used in calculating these indexes is based on a deflated value concept and is developed in the following way:

1971, United States. Commission on International Trade and Investment Policy, United States International Economic Policy in an Interdependent World, page 508:

Output indexes are developed as a deflated value of production or physical quantity of production of an industry.

1995 July, Kent Kunze, Mary Jablonski, Virginia Klarquist, “BLS Modernizes Industry Labor Productivity Program”, in Monthly Labor Review, volume 118, number 7, page 6:

(economics) Adjusted downward to compensate for inflation.

The result is striking: durables unfilled orders fell almost continuously from the beginning of 1947 until the end of the recession, and there was only a submerged second cycle in the deflated purchased-materials investment series.

1961, Inventory Fluctuations and Economic Stabilization:

I am not talking about a deflated economy.

1969, United States. Congress. Senate. Committee on Appropriations, District of Columbia Appropriations for Fiscal Year 1970, page 1194:

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:

A deflated economy also gives rise to the need for more social services at the very time that it cuts the tax-base.

2003, William Krehm, Towards a Non-autistic Economy - a Place at the Table for Society, page 41:


monetarism

en-noun

monetarism (countable and uncountable, plural monetarisms)

From monetary + -ism, from Latin monētārius, from monēta.

(economics) The doctrine that economic systems are controlled by variations in the supply of money.

(economics) The political doctrine that a nation's economy can be controlled by regulating the money supply.


double-dip

double-dips (plural)
double dip (alternative)

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

The UK is currently experiencing a double-dip.

(economics) Ellipsis of double-dip recession (“return to recession after a short period of growth”).


mercantilism

mercantilism (countable and uncountable, plural mercantilisms)

(historical, economics) The theory that a nation must always have a positive balance of trade, in the manner that a merchant would operate a shop. Typically this model presupposes protectionism.

merkantilizmi

the historical economic theory that a nation must always have a positive balance of trade

(economics) The theory that holds that the prosperity of a nation depends upon its supply of capital, and that the global volume of trade is unchangeable.


consumer price index

The latest consumer price index (CPI) figures—which measure a broad range of goods and services—showed prices rising by a monthly rate of 0.3% in April, down from 1.2% in March, the first fall since August 2021.

2022 May 11, Dominic Rushe, “US inflation rate slows but remains close to 40-year high”, in The Guardian:

(economics) A statistical estimate of the level of prices of goods and services bought for consumption purposes by households.

消費者物価指数

しょうひしゃぶっかしすう

wskaźnik cen towarów i usług konsumpcyjnych


sunk cost

sunk costs fallacy

(economics) A cost that has already been incurred and which cannot be recovered to any significant degree.


atomistic

en-adj

atomistic (comparative more atomistic, superlative most atomistic)

more atomistic (comparative)
most atomistic (superlative)

(economics) Of a market: divided such that no single actor can noticeably affect market-wide values such as the price; competitive.


market basket

Metaphor, in reference to baskets used for shopping.

(economics) A list of items used specifically to track the progress of inflation in an economy or specific market.


libertarianism

en-noun

libertarianism (countable and uncountable, plural libertarianisms)

/lɪbəˈtɛːɹɪənɪz(ə)m/

Nevertheless, advocates of individual freedom not only continue to exist, but are increasing in number. Refugees from the Old Right, the Old Left and the New Left, they are organizing independently under the New Right banner of libertarianism.

1971 January 10, Stan Lehr, Louis Rossetto, “The New Right Credo–Libertarianism”, in The New York Times, →ISSN:

The peculiar brand of libertarianism in vogue within technology circles means a minority of members—a couple of outspoken misogynists—can disproportionately affect the behavior and mood of the group under the cover of free speech.

2014, Astra Taylor, chapter 4, in The People's Platform: Taking Back Power and Culture in the Digital Age, Henry Holt and Company, →ISBN:

Isaacson reports that Musk’s fractured relationship with Jenna, who is trans, partly led to Musk’s rightward turn toward libertarianism and questioning what he considers the “woke-mind-virus, which is fundamentally antiscience, antimerit, and antihuman.”

2023 September 12, Paul Glader, “Four takeaways from Walter Isaacson’s biography of Elon Musk”, in CNN:

(economics, philosophy, politics) A political philosophy maintaining that all persons are the absolute owners of their own lives, and should be free to do whatever they wish with their persons or property, provided they allow others that same liberty.


positional

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

Of course, this ex post problem may have a negative feedback on the ex ante desirability of having market transactions for positional goods.

1998, Samuel Bowles, Maurizio Franzini, Ugo Pagano, The Politics and Economics of Power, page 61:

Since economics is about scarcity, its study must be based on positional conflict, as indicated by the behaviour of the nouveau riche, or of poor people, who proudly demonstrate their latest smartphones or plasma TV sets.

2013, Anastasios S. Korkotsides, Against Utility-Based Economics: On a Life-Based Approach, page 235:

Regarding saving and consumption, nonpositional and positional consumption are distinguished.

2014, Shenggen Fan, Ravi Kanbur, Shang-Jin Wei, The Oxford Companion to the Economics of China:

Max Weber was also aware of positional considerations when he defined social status as "an effective claim to social esteem in terms of positive or negative privileges" (Weber, 1922: 305).

2016, Stavros A. Drakopoulos, Comparisons in Economic Thought, page 69:

(economics) Having or pertaining to a value that is a function of its social desirability, as opposed to its utility.


structural unemployment

(economics) A type of unemployment explained by a mismatch between the requirements of the employers and the properties (such as skills, age, gender or location) of the unemployed.


seasonal unemployment

(economics) A type of unemployment explained by a seasonal variation in the structure of jobs and/or labour offered. Seasonal unemployment typically repeats the same pattern annually.


frictional unemployment

(economics) A type of unemployment explained by people being temporarily between jobs, searching for new ones. A labour market is regarded as being in the state of full employment if frictional unemployment is the only kind of unemployment present.


cyclical unemployment

(economics) A type of unemployment explained by the demand for labor going up and down with the business cycle.


classical unemployment

There can be "Keynesian" and "classical" unemployment. Indeed there can be both at the same time: the real wage might be too high to allow full employment with existing capital stock, while at the same time aggregate demand is inadequate to take off the market what firms would wish to produce. Changes in the real wage could have demand-side and supply-side effects.

1987 8 December, Nobel laureate Robert M. Solow in his prize lecture

In the standard fix-price model of price-taking competitive firms, Keynesian and classical unemployment are separate states according to whether notional product supply exceeds or falls short of market demand at the prevailing wage and price configuration, so that labor demand is either output constrained and determined by the inverted production function (Keynesian unemployment), or firms are on their notional product supply and labor demand functions but the real wage exceeds the Walrasian full-employment level (classical unemployment). Thus labor demand is independent of the real wage in the Keynesian state and depends only on the real wage in the classical state.

1988, Robert M. Coen, Bert G. Hickman., “Is European Unemployment Classical or Keynesian?”, in The American Economic Review, volume 78, number 2, pages 188–193:

Classical unemployment is the result of real wages being above their market clearing level leading to an excess supply of labour.

2006 September, Geoff Riley, Head of Economics, Eton College

(economics) The component of overall unemployment caused by too high wage expectations.


Marxian unemployment

(economics) According to the 19th-century German philosopher Karl Marx, unemployment needed by the capitalists in order to maintain work discipline in jobs, keep wages down, and protect business profitability.


short sale

(economics) A sale of a financial security, commodity, or other third-party asset that entails a contractual obligation to deliver the asset to a subsequent buyer at a specified date.


Walrasian

en-adj

Walrasian (comparative more Walrasian, superlative most Walrasian)

more Walrasian (comparative)
most Walrasian (superlative)

(economics) Of or pertaining to the theories of the 19th-century French economist Léon Walras.

a Walrasian auction

(economics) Relating to a tatonnement process for achieving exchange equilibrium.


anarcho-capitalism

Karl Hess
Murray Rothbard
Playboy
anarcho-capitalism

From anarcho- + capitalism. Earliest extant attestation is in American author Karl Hess's essay “The Death of Politics”, originally published by Playboy, in March 1969. Even though American economist Murray Rothbard is credited with coining this word, its first possible appearance among his writings is in his 1971 essay “Know Your Rights”, published two years after Hess's essay.

Laissez-faire capitalism, or anarchocapitalism^([sic]), is simply the economic form of the libertarian ethic. Laissez-faire capitalism encompasses the notion that men should exchange goods and services, without regulation, solely on the basis of value for value. It recognizes charity and communal enterprises as voluntary versions of this same ethic.

1969 March, Karl Hess, “The Death of Politics”, in Playboy:

Anarcho-capitalism is a creed new to the present age. Its closest historical links are with the “individualist anarchism” of Benjamin R. Tucker and Lysander Spooner of the late nineteenth century, and it shares with Tucker and Spooner a devotion to private property, individualism, and competition. Furthermore, and in contrast to Read and Rand, it shares with Spooner and Tucker their hostility to government officials as a criminal band of robbers and murderers.[…]

1971, Murray Rothbard, “Know Your Rights”, in WIN: Peace and Freedom through Nonviolent Action, volume 7, number 4, pages 6–10:

(politics, economics) A political and economic philosophy that advocates the elimination of the state and other coercive institutions in favour of individual self-ownership, voluntary society, and free market.

لاسلطوية رأسمالية

philosophy that advocates the elimination of the state and a self-regulating free market

The second was shock therapy. Implemented briefly in the aftermath of the Soviet collapse, shock therapy aimed to construct a free market in post-communist Russia. It produced instead a species of mafia-dominated anarcho-capitalism.

1998, John Gray, False Dawn: The Delusions of Global Capitalism, New York: The New Press, →ISBN, page 133:

(politics, economics) A political and socioeconomic system that ostensibly recognizes only individual self-ownership, voluntary society, and free market but not the state and other coercive institutions.


neoliberalism

en-noun

neoliberalism (countable and uncountable, plural neoliberalisms)

The age of Obama was the last gasp of neoliberalism. Despite some progressive words and symbolic gestures, Obama chose to ignore Wall Street crimes, reject bailouts for homeowners, oversee growing inequality and facilitate war crimes like US drones killing innocent civilians abroad.

2016 November 17, Cornel West, “Goodbye, American neoliberalism. A new era is here”, in The Guardian:

(often derogatory) A political ideology or ideological trend based on neoclassical economics that espouses economic liberalism, favouring trade liberalisation, financial deregulation, a small government, privatisation and liberalisation of government businesses, passive antitrust enforcement, accepting greater economic inequality and disfavouring unionisation.


ETS

ETS (countable and uncountable, plural ETSes)

Free pollution permits worth €98.5bn were given to energy-intensive sectors […]. This is more than the €88.5bn that the EU’s emissions trading scheme (ETS) charged polluters, mostly coal and gas power stations, for their CO₂ emissions. […] Carbon emissions covered by the ETS have fallen by 37% since it began in 2005, largely thanks to the growth of renewable energy.

2022 November 29, Damian Carrington, “Big polluters given almost €100bn in free carbon permits by EU”, in The Guardian:

emissions trading
emissions trading#English

(economics) Initialism of emissions trading scheme.


economic growth

economic growth (usually uncountable, plural economic growths)

As a result of inward investment, Eire enjoyed substantial economic growth.

(economics) The growth of the economic output of a country.


economic output

economic output (countable and uncountable, plural economic outputs)

The economic output of all countries in the EU has increased considerably during the last three decades.

(economics) The value of goods and services produced in a country, region or other entity.


invisible export

invisible export (plural invisible exports)

Although physical imports exceeded exports, when invisible exports were accounted for the balance of payments was healthy.

(economics) Any export that does not have a tangible physical presence (e.g. expertise, insurance underwriting).


economies of scale

economies of scale pl (normally plural, singular economy of scale)

When plant size increased from 400 heavy young hens per hour to about 1,500 per hour average costs per pound declined from 6.6 to 5.4 cents per pound. While these costs suggested the existence of economies of scale in processing, they did not provide a standardized measure of the exact nature and extent of potential cost savings.

1963, George Burnet Rogers, Costs and Economies of Scale in Turkey Processing Plants, Washington, DC: U.S. Department of Agriculture, page i:

To exploit travel economies of scale, RAIL buys a four-in-eight-day Rail Rover. This is now known as the 'Spirit of Scotland Travelpass', although older users may remember it as the 'Freedom of Scotland' - arguably a better name.

2025 March 5, “Ayr miles with a 'Spirit of Scotland'”, in RAIL, number 1030, page 43:

(economics) The characteristics of a production process in which an increase in the scale of the firm causes a decrease in the long run average cost of each unit.

մասշտաբի էֆեկտ

the characteristics of a production process


reexport

reexports (plural)
re-export (alternative)

(economics) The export of a (recently) imported good. (often not or hardly reworked)


agroindustry

agroindustry (countable and uncountable, plural agroindustries)

In the seventeenth century, the strategy for sugar production, a labor-intensive agro-industry, was to keep the manpower cost down through slavery.

The agricultural activity of an area viewed as an industrial sector of the economy.


casualisation

casualisation (countable and uncountable, plural casualisations)

(economics) The process by which employment shifts from a preponderance of full-time and permanent or contract positions to higher levels of casual positions.

précarisation

the increase of precarious work in the labour market


secondary industry

secondary industry (plural secondary industries)

(economics) An industry that processes raw materials produced by primary industry into goods suitable for tertiary industry to provide goods or services to consumers.


ANZCERTA

(economics) Initialism of Australia New Zealand Closer Economic Relations Trade Agreement.


Eurodollar

Eurodollars (plural)
eurodollar (alternative)

From Euro- + dollar, perhaps from one of the initial telex addresses.

(economics) A deposit, in US dollars, held in a bank outside of the United States (no longer necessarily in Europe)

eurodollari

a deposit, in US dollars, held in a bank outside of the United States


superinflation

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

(economics) A very high rate of inflation


inelasticity

inelasticity (usually uncountable, plural inelasticities)

(economics) The insensitivity of changes in a quantity with respect to changes in another quantity.


dualistic development

An extension of the dualism concept in development economics.

(economics) The concept that the relationship between the rich and the poor countries is just a global version of the dualism that we see in every aspect of life; a concept that in interrelations the superior elements do little or nothing to pull up the inferior elements, and may serve to push them down.


SPM

SPM (countable and uncountable, plural SPMs)

supplemental poverty measure
supplemental poverty measure#English

(economics, countable) Initialism of supplemental poverty measure.


price index

price index (plural price indexes or price indices)

price indexes (plural)
price indices (plural)

(economics) A statistical estimate of the level of prices of some class of goods or services.


purchasing power

The exchange rates do not always reflect true differences in the purchasing power of currencies.

But poverty’s scourge is fiercest below $1.25 (the average of the 15 poorest countries’ own poverty lines, measured in 2005 dollars and adjusted for differences in purchasing power): people below that level live lives that are poor, nasty, brutish and short.

2013 June 1, “Towards the end of poverty”, in The Economist, volume 407, number 8838, page 11:

(economics) The amount of goods and services that can be bought with a unit of currency.

قُدْرَة شِرائِيَّة

amount of goods and services that can be purchased with a unit of currency

High interest rates are affecting the purchasing power of homeowners.

(economics) The amount of goods and services that can be bought by consumers.


severable

en-adj

severable (comparative more severable, superlative most severable)

more severable (comparative)
most severable (superlative)

(law, economics) Capable of being separated.


labor market

labor markets (plural)
labour market (alternative)

(economics) The market consisting of the supply of unemployed workers in relation to the demand for them.


SIMIC

(macroeconomics) Acronym of severely indebted middle-income country (“a country with an annual income of between $736 and $9,075 per capita, a debt ratio of at least 80%, and a debt/export ratio of at least 220%”).


futures market

(trading, economics, finance) An exchange in which one can trade on commodities or financial instruments at a specified price for delivery at a specified future time.


credit crunch

(economics, finance) A period of economic crisis in which credit and investment capital are difficult to obtain.

luottolama

period of difficulty in obtaining credit


moneyness

en-noun

moneyness (usually uncountable, plural moneynesses)

In good times everything seems to have moneyness; in bad times, some money doesn't have much moneyness.

It is this undiscriminating acceptability which confers 'moneyness' on some things, regardless of the fact that others may also serve such subsidiary money functions as being a store of value or unit of account.

2004, Peter Joseph Drake, Currency, Credit and Commerce: Early Growth in Southeast Asia, page 98:

(economics, banking) The degree to which an asset approximates cash in its ready liquidity and the low transactions costs in realizing that liquidity.


price level

(economics) An index of the average market price of selected goods weighted according to certain criteria.

hintataso

average market price of certain goods or services


marketizer

(economics) One who brings an organization or a country to the market; one who assists in expanding a market economy by finding market-based solutions for social, political, or economic problems; one who assists with marketization.


fiat money

fiat money (countable and uncountable, plural fiat moneys or fiat monies)

fiat moneys (plural)
fiat monies (plural)

(banking, economics) A type of currency that is not backed by a commodity and is typically designated by the issuing government to be legal tender, and authorized by government regulation.


hard money

hard money (usually uncountable, plural hard moneys)

(economics) Money backed by specie and easily convertible into foreign currencies.


isocost

(economics) A curve that represents a combination of various inputs that cost the same.


micropayment

From micro- + payment, attributed to American information technologist, philosopher, and sociologist Ted Nelson.

coin

(economics) A financial transaction for a very small amount of money


capital gain

(economics) An increase in the value of a capital asset.

plusvàlua

an increase in the value of a capital asset


capital loss

(economics) A decrease in the value of a capital asset


monetary policy

en-noun

monetary policy (countable and uncountable, plural monetary policies)

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:

(economics) The process by which the government, central bank, or monetary authority manages the supply of money, or trading in foreign exchange markets.


fiscal policy

fiscal policy (countable and uncountable, plural fiscal policies)

(economics) Government policy that attempts to influence the direction of the economy through changes in government spending or taxes.


translog

Abbreviation of transcendental logarithmic.


market foreclosure

market foreclosure (usually uncountable, plural market foreclosures)

(economics) The use or result of commercial practices by one market participant or a group of market participants (possibly with governmental assistance) that limit the access of buyers and sellers to each other.


financial capital

(economics) The money used by entrepreneurs and businesses to buy what they need to make their products or provide their services.


real capital

(economics) Capital that is not financial capital, such as shovels for gravediggers, sewing machines for tailors, or machinery for manufacturing firms.


means of production

In English by 1733 in Peter Shaw, The Philosophical Works of Francis Bacon, Vol III, p. 52, noted: "Observe, what has been fully explained in the Novum Organum; that to discover the Causes of Things, is finding the Means to produce them, whence Causes, and the Means of Production are convertible terms."

(economics, Marxism) The combination of the means of labor, such as machines, tools, and equipment, and the subject of labor used by workers to make products.

وَسَائِل الْإِنْتَاج

combination of the means of labor and the subject of labor


factor of production

factor of production (plural factors of production)

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 to produce goods and services, such as labor, land, or capital.


visibles

Within North America, however, Canadian visibles (including Canadian grain in the United States) were smaller only than those of 1933, while United States visibles were the lowest in six years.

1934, Stanford University, Wheat Studies of the Food Research Institute, volume 11, page 23:

(economics) Goods in storage or transport and available for sale or purchase.


cost-benefit analysis

cost-benefit analysis (countable and uncountable, plural cost-benefit analyses)

cost-benefit analyses (plural)
cost benefit analysis (alternative)

Gratifying as it is to read such editorials even in the press which supports Mr. Marples' party—and to learn that the G.N. Line's London suburban electrification is at last being given a cost-benefit analysis of the kind which overwhelmingly justified the L.T. Victoria Line […] but years later than need have been […]

1963 June, “Second thoughts on Beeching”, in Modern Railways, page 361:

(finance, economics) A methodology to help appraise or assess the case for a project or proposal, by estimating the net cost or benefit of the project of proposal.

成本效益分析

methodology to appraise the case for a project


Pareto improvement

Pareto improvement (plural Pareto improvements)

Pareto improvements (plural)
Pareto-improvement (alternative)

(game theory, economics) A change in the allocation of a resource to a set of individuals that is an improvement for at least one and no worse for any other.


Pareto efficient

en-adj

Pareto efficient (comparative more Pareto efficient, superlative most Pareto efficient)

more Pareto efficient (comparative)
most Pareto efficient (superlative)

(game theory, economics) Describing a situation in which the profit of one party cannot be increased without reducing the profit of another.


guided capitalism

en-noun

guided capitalism (usually uncountable, plural guided capitalisms)

... the difference between socialism and a strategically guided capitalism may be slight, particularly if the emphasis on ownership is found irrelevant.

1940, Alfred Mitchell Bingham, The United States of Europe, page 181:

It has been called a policy of "guided capitalism," and seeks to "preserve free enterprise" by numerous large-scale adjustments [....]

1948, David McCord Wright, Democracy and Progress, page 179:

Therefore, on the understanding that the essence of the bourgeois economy will be absent from the picture, we may call this system Guided Capitalism.

1951, Joseph Alois Schumpeter, Essays, page 182:

This chapter examines Japan's guided capitalism, which connotes a major state role in spurring private-sector investment and improved technology [....]

1995, E. Wayne Nafziger, Learning from the Japanese: Japan's Pre-War Development and the Third World, page 53:

He calls it a guided capitalism. I think of it more as corporate capitalism. Singapore is run much as one would run one of the corporate elephants,

2003, Charles Handy, The Elephant and the Flea, page 125:

(economics) A capitalist economic system with some variety of state guidance.


leapfrogging

leapfrogging (countable and uncountable, plural leapfroggings)

leapfroggings (plural)
leap-frogging (alternative)

The final stage the is leapfrogging, in which latecomers do not aim to imitate the existing products or plants, but explore ways to develop emerging products in short cycle technologies. A Korean example is digital TV development, which can be regarded as the decisive and final watershed that enabled Korea to begin taking over Japan in the TV business. An example from China would be its recent move toward electric-engined cars […]

2013, Joseph E. Stiglitz, edited by Justin Yifu Lin, The Industrial Policy Revolution, Springer, →ISBN:

Part of the allure of leapfrogging was the difficulty of simply catching up. The complexity of today's auto industry should not be underestimated.

2015, Levi Tillemann, The Great Race, Simon and Schuster, →ISBN, page 18:

(economics, business) The idea that small and incremental innovations lead the dominant firm to stay ahead, whereas radical innovations will permit new firms to "leapfrog" the dominant one.


backwash

backwash (countable and uncountable, plural backwashes)

(economics) The situation where economic growth in one area harms other areas by attracting people and business away from those areas.


common good

common good (countable and uncountable, plural common goods)

(economics) A good that is rivalrous and nonexcludable.

yhteishyödyke

a good that is rivalrous and nonexcludable