Content tagged with “economics” under “Stuff I Looked Up”

“According to Karl Marx, this is the lowest class. This is the working class – the classic Proletariot – but so ignorant that they’re not even aware of their situation, and don’t care about any class warfare. They have either accepted their fate, or simply aren’t aware that they are being exploited….”

“ This is the French word meaning ‘stock exchange’ or ‘merchant exchange.’ It comes from a historic word meaning ‘meeting of merchants.’ ”

“This is an economic phenomenon where a drastic improvement in one part of country’s economy leads to a decline in other parts. Specifically, it refers to the rise in the valuation of the Dutch guilder when a large oil field was discovered in the late 1950s. This caused exports to be more expensive,…”

“This is an economic model used to reduce carbon emissions. A government sets a ‘cap’ on the total amount of emissions to be allowed, and they sell ‘permits’ or ‘certificates’ or ‘credits’ which allow organizations to emit a certain amount against that cap. The goal is to slowly reduce the cap every…”

“John Maynard Keynes was a British economist. He had a lot of theories about economics, but it basically boils down to this – The government has to intervene in the economy . In a rescission, government has to increase spending to increase demand. During a boom, the government needs to reduce…”

“This is opposite of a monopoly. In a monopoly, there is a single seller and lots of buyers, allowing the seller to control the market. In a monopsony, there is a single buyer , which allows the buyer to control the market. For example, if you manufacture trigger mechanisms for nuclear warheads, you…”