Economics

Economics

basics of economics

Contributors in Economics

Economics

The third of 17 children of a wealthy banker, David Ricardo (1772–1823) was disinherited at the age of 21 after he married a Quaker against the wishes of his parents. He became a stockbroker and did ...

currency peg

Economy; Economics

When a government announces that the exchange rate of its currency is fixed against another currency or currencies. (See also currency board. )

currency board

Economy; Economics

A means by which some countries try to defend their currency from speculative attack. A country that introduces a currency board commits itself to converting its domestic currency on demand at a ...

crowding out

Economy; Economics

When the state does something it may discourage, or crowd out, private-sector attempts to do the same thing. At times, excessive government borrowing has been blamed for low private-sector borrowing ...

bull

Economy; Economics

An investor who expects the price of a particular security to rise; the opposite of a bear.

budget

Economy; Economics

An annual procedure to decide how much public spending there should be in the year ahead and what mix of taxation, charging for services and borrowing should finance it. The budgeting process differs ...

bubble

Economy; Economics

When the price of an asset rises far higher than can be explained by fundamentals, such as the income likely to derive from holding the asset. The Chicago Tribune of April 13th 1890, writing about ...