Economics

Economics

basics of economics

Industry: Economy

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Economics

General agreement on tariffs and trade (GATT)

Economy; Economics

The vehicle for promoting international free trade, through a series of rounds of negotiations between the governments of trading countries. The first GATT round began in 1945. The last led to the ...

gearing

Economy; Economics

A company's debt expressed as a percentage of its equity; also known as leverage. (See also capital structure and leveraged buy-out. )

game theory

Economy; Economics

How to win at Twister? No, but maybe at monopoly. Game theory is a technique for analyzing how people, firms and governments should behave in strategic situations (in which they must interact with ...

G7, G8, G10, G20, G21, G22, G26

Economy; Economics

I don't want to belong to any club that will accept me as a member, quipped Groucho Marx. But the world's politicians are desperate to join the economic clubs that are the Group of Seven (G7), G8, ...

fungible

Economy; Economics

You can't tell them apart. Something is fungible when any one single specimen is indistinguishable from any other. Somebody who is owed $1 does not care which particular dollar he gets. Anything that ...

full employment

Economy; Economics

Jobs for all that want them. This does not mean zero unemployment because at any point in time some people do not want to work. Also, because some people are always between jobs, there will usually ...

Friedrich Hayek

Economy; Economics

An influential economist of the Austrian school, who won the Nobel Prize for economics in 1974 for his theory of the business cycle many years after this body of work seemed to have been disproved by ...