Economics

Economics

basics of economics

Contributors in Economics

Economics

A conference held at Bretton Woods, New Hampshire, in 1944, which designed the structure of the international monetary system after the second world war and set up the IMF and the world bank. It was ...

brand

Economy; Economics

The stalking-horse for international capitalism. A focus for all the worries about environmental damage, human-rights abuses and sweated labor that opponents of globalization like to put on their ...

bounded rationality

Economy; Economics

A theory of human decision making that assumes that people behave rationally, but only within the limits of the information available to them. Because their information may be inadequate (bounded) ...

bonds

Economy; Economics

Gentlemen prefer bonds, punned Andrew Mellon, an American tycoon. A bond is an interest-bearing security issued by governments, companies and some other organizations. Bonds are an alternative way ...

Black-Scholes

Economy; Economics

A formula for pricing financial options. Its invention allowed a previously undreamed of precision in the pricing of options (which had hitherto been done using crude rules of thumb), and probably ...

black economy

Economy; Economics

If you pay your cleaner or builder in cash, or for some reason neglect to tell the taxman that you were paid for a service rendered, you participate in the black or underground economy. Such ...

barriers to exit

Economy; Economics

How firms keep out competition--an important source of incumbent advantage. There are four main sorts of barriers. * A firm may own a crucial resource, such as an oil well, or it may have an ...