Economics

Economics

basics of economics

Contributors in Economics

Economics

Henry George, a 19th-century American eco¬nomist, believed that taxes should be levied only on the value of land, not on labour or capital. This "single tax", he asserted in his book, PROGRESS AND ...

Land

Economy; Economics

One of the factors of production, along with labor, capital and enterprise. Pending colonisation of the moon, it is in fairly fixed supply. Marginal increases are possible by reclaiming land from the ...

Interest rate

Economy; Economics

Interest is usually expressed at an annual rate: the amount of interest that would be paid during a year divided by the amount of money loaned. Developed economies offer many different interest ...

Interest

Economy; Economics

The cost of borrowing, which compensates lenders for the risk they take in making their money available to borrowers. Without interest there would be little lending and thus a lot less economic ...

Intellectual capital

Economy; Economics

The part of a country's or a firm's capital or an individual's human capital that consists of ideas rather than something more physical. It can often be protected through patents or other ...

Intangible assets

Economy; Economics

Valuable things, even though you cannot drop them on your foot – an idea, say, especially one protected by a patent; an effective corporate culture; human capital; a popular brand. Contrast with ...

Insurance

Economy; Economics

In economic terms, anything used to reduce the downside of risk. In its most familiar form, insurance is provided through a policy purchased from an insurance company. But a fuller definition would ...