By Kenyon A. Knopf
As a substitute for in-depth definitions and ideas, this booklet is a one-volume resolution to economics, banking, and company questions. With encyclopaedic aspect, the trems are outlined, innovations defined and relationships illustrated. A separate part of abbreviations and acronyms may also help the reader to spot monetary and enterprise teams. This publication is desinged to be of curiosity to non-professionals and scholars of economics, scholars and pros in enterprise, accounting, sociology and legislation
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Because the fall of the Berlin Wall we've got been informed that no substitute to Western capitalism is feasible or fascinating. This booklet demanding situations this view with arguments. First, the above premise ignores the large type inside of capitalism itself. moment, there are huge, immense forces of transformation inside modern capitalisms, linked to strikes in the direction of a extra knowledge-intensive economic system.
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Extra resources for A Lexicon of Economics
C L E A N F L O A T Characterization of an international currency ex change when currency values are allowed to float (change) freely with no governmental intervention in the foreign exchange markets. See Dirty Float, Flexible Exchange Rates. C L E A R I N G H O U S E An association of banks formed to settle claims of each against the others as the result of checks being drawn on one member bank by a depositor and then deposited or cashed in another member bank. Sometimes the function is performed by the regional Federal Reserve Bank or the regional Federal Home Loan Bank.
However, most agricultural markets are international and such subsidies run counter to efforts of the General Agreement on Tariffs and Trade (GATT) to eliminate subsidies that affect international trade. Straight subsidies also undercut our efforts to reduce the subsidies of other countries for products which we feel unfairly compete in our markets. See Buffer Stock, Price Support, Deficiency Payment, Parity Price: Agriculture, Target Price. C O M M O D I T Y F U T U R E S Contracts for delivery of specified com modities such as wheat, cotton, or corn at the stated price on a specified date in the future.
C L O S E D S H O P A labor union agreement with an employer or group of employers that only union members will be hired, so that an 41 COINS individual must join the union before he or she can be employed. The closed shop has been attacked with great emotion over the years because it gives a union control over who may be hired. The union controls admission to its own membership, so refusal of admission to union membership means denying the person the right to be considered for a job. The closed shop has been found most often in the maritime and construction industries, where a worker moves from one employer to another as jobs are completed during the year.
A Lexicon of Economics by Kenyon A. Knopf