Economics

Economics

basics of economics

Contributors in Economics

Economics

Exports and imports of things you cannot touch or see: services, such as banking or advertising and other intangibles, such as copyrights. Invisible trade accounts for a growing slice of the value of ...

invisible hand

Economy; Economics

Adam Smith’s shorthand for the ability of the free market to allocate factors of production, goods and services to their most valuable use. If everybody acts from self-interest, spurred on by the ...

investment

Economy; Economics

Putting money to work, in the hope of making even more money. Investment takes two main forms: direct spending on buildings, machinery and so forth, and indirect spending on financial securities, ...

intervention

Economy; Economics

When central banks try to influence an exchange rate by buying the currency they want to appreciate and selling the one they want to weaken. The evidence seems to suggest that it is at best a ...

International Monetary Fund (IMF)

Economy; Economics

Referee and, when the need arises, rescuer of the world’s financial system. The IMF was set up in 1944 at Bretton Woods, along with the World Bank, to supervise the newly established fixed exchange ...

International Labor Organization (ILO)

Economy; Economics

Founded in 1919 as part of the Treaty of Versailles, which created the League of Nations. In 1946, it became the first specialized agency of the UN. Based in Geneva, it formulates international labor ...

international aid

Economy; Economics

A helping hand for poor countries from rich countries. This, at least, is the intention. In practice, in many cases aid has done little good for its intended recipients (improved health care is a ...