Economics

Economics

basics of economics

Industry: Economy

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Economics

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)

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 labour organisation (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 specialised agency of the UN. Based in Geneva, it formulates international ...

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 ...

Hysteresis

Economy; Economics

Lagging; slow to respond. Traditionally, econo¬mists believed that high unemployment was a ¬cyclical phenomenon. Eventually, unemployment would cause people to lower their wage de¬mands, and so new ...

Hypothecation

Economy; Economics

Earmarking taxes for a specific purpose. It may be a clever way to get around public hostility to paying more in taxation. If people are told that a specific share of their income tax will go to some ...