Tag: modern
Fiat Money
DefinitionFiat money is a currency without intrinsic value that has been established as money, often by government regulation. Fiat money does not have use...
General Equilibrium Theory
DefinitionIn economics, general equilibrium theory attempts to explain the behavior of supply, demand, and prices in a whole economy with several or many interacting...
Takaful
DefinitionTakaful is a co-operative system of reimbursement or repayment in case of loss, organized as an Islamic or sharia compliant alternative to conventional insurance,...
Dealer Market
What is a 'Dealer Market' A financial market mechanism wherein multiple dealers post prices at which they will buy or sell a...
Dealer Option
What is 'Dealer Option' An option issued on the physical inventory of a commodity. A dealer option is typically issued by companies...
Deal Blotter
What is 'Deal Blotter' A trader's record of all the transactions executed on a given day. The deal blotter contains basic information...
Ultimogeniture
What is ultimogeniture and how does it work
Ultimogeniture is the practice of leaving property to the youngest child. It contrasts with primogeniture, in which...
Kenneth Arrow
DefinitionKenneth Joseph "Ken" Arrow was an American economist, mathematician, writer, and political theorist. He was the joint winner of the Nobel Memorial Prize in...
John Maynard Keynes
DefinitionJohn Maynard Keynes, 1st Baron Keynes, was a British economist whose ideas fundamentally changed the theory and practice of macroeconomics and the economic policies...
John Stuart Mill
DefinitionJohn Stuart Mill, also known as J.S. Mill, was a British philosopher, political economist, and civil servant. One of the most influential thinkers in...