Economics

Economics

basics of economics

Industry: Economy

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Economics

Labour intensive

Economy; Economics

A production process that involves comparatively large amounts of labor; the opposite of capital intensive.

Government expenditure

Economy; Economics

Spending by national and local government and some government-backed institutions. See fiscal policy, golden rule and budget.

There are few more hotly debated topics in economics than what role the state should play in the economy. Plenty of economists provided intellectual support for state intervention during the era of ...

Golden rule

Economy; Economics

Over the economic cycle, a government should borrow only to invest and not to finance current spending. This rule is certainly a prudent approach to fiscal policy, provided that governments are ...

Gold standard

Economy; Economics

A monetary system in which a country backs its currency with a reserve of gold, and allows currency holders to exchange their notes and coins for gold. For many years up to 1914, most of the world's ...

Gold

Economy; Economics

For much of human history gold has been an important ingredient of economic activity. But its importance declined during the 20th century and may continue to shrink in future. The gold standard, ...

Globalisation

Economy; Economics

A buzz word that refers to the trend for people, firms and governments around the world to become increasingly dependent on and integrated with each other. This can be a source of tremendous ...