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Tag: Insiders Economic Dictionary


The Insider’s Economic Dictionary: S Is for Saint-Simon

Sex: The topic that has proved strong enough to displace religious and academic discussion about property and wealth as the driving force in human affairs and evolution.

Posted on Aug 9, 2014 READ MORE



The Insider’s Economic Dictionary: R Is for Rentier

Race to the bottom: A term for dog-eat-dog competition by which countries compete by cutting wage levels so as to produce in the cheapest market, not by raising wages and labor productivity.

Posted on Apr 14, 2014 READ MORE



The Insider’s Economic Dictionary: P Is for Ponzi

Parasitism: In biology, parasites develop a strategy of gaining control of the host’s brain in order to obtain nourishment by masquerading as its natural progeny or as a part of its body. For economies, the brain in question is the government.

Posted on Apr 13, 2014 READ MORE



N Is for Neo-Serfdom, O for Offshore Banking

Neoliberalism: The philosophy that public ownership and regulation is inherently less efficient than management by financial operators.

Posted on Jan 25, 2014 READ MORE



M for Marginalism

Money: All money is credit in one way or another. But today it is government-backed or government-created credit, as its defining characteristic is the government’s willingness to accept it in payment of taxes or other public fees.

Posted on Jan 24, 2014 READ MORE



The Insider’s Economic Dictionary: L Is for Land

Labor capitalism: A term popularized by Margaret Thatcher to describe an economy in which workers became shareholders but not managers. Labor’s role is that of the exploited party, not the beneficiary. “Labor” is to “labor capitalism” as “lamb” is to “lamb-chop.”

Posted on Jan 19, 2014 READ MORE



heyrocc (CC BY-ND 2.0)

J Is for Jubilee, K for Kleptocrats

Jubilee Year: In Judaic Law (Leviticus 25), a Clean Slate to be proclaimed every 50 years annulling personal and agrarian debts, liberating bond-servants to rejoin their families, and returning lands that had been alienated under economic duress.

Posted on Dec 28, 2013 READ MORE



Pink Sherbert Photography (CC BY 2.0)

The Insider’s Economic Dictionary: I Is for Ideology

Ideology: A set of assumptions so appealing that one looks at their abstract logic rather than how the world actually works. (See Insanity.)

Posted on Nov 29, 2013 READ MORE



Arenamontanus (CC BY 2.0)

The Insider’s Economic Dictionary: H Is for Half-Life

Hubris: A Greek term meaning overgrowth or proliferation, an addiction to power involving abusive behavior toward others, above all by victimizing people economically, typically as creditors.

Posted on Nov 24, 2013 READ MORE



DaraKeroF (CC BY 2.0)

The Insider’s Economic Dictionary: G Is for Groundrent

Government: This social control function historically has been provided by public institutions. The modern and indeed, ancient role of government is to promote security, equality under the law, economic stability and fairness, and to provide legal redress against injurious acts so as to prevent economic polarization from downgrading the status of citizens.

Posted on Nov 17, 2013 READ MORE



chelsea.parker.photo (CC BY-ND 2.0)

The Insider’s Economic Dictionary: F Is for FIRE Sector

Free markets: Markets dominated by the financial and propertied classes whose objective is to secure all discretionary income for themselves, ultimately by asset stripping, leaving the economy without freedom of choice except to pay the rentier class.

Posted on Sep 23, 2013 READ MORE



josh.ev9 (CC BY-SA 2.0)

The Insider’s Economic Dictionary: E Is for Earned Income

Economist: Originally a member of the Physiocratic School (L’Économistes) who sought to replace France’s proliferation of excise and income taxes with a land tax. For modern economists’ general methodology, see Junk Science.

Posted on Sep 20, 2013 READ MORE



*Sally M* (CC BY-SA 2.0)

The Insider’s Economic Dictionary: D Is for Debt

Dependency: the loss of choice. Establishing a world system based on foreign dependency is the aim of the Washington Consensus.

Posted on Sep 15, 2013 READ MORE



Horia Varlan (CC BY 2.0)

The Insider’s Economic Dictionary: C Is for Camouflage

Capitalism: The term used to describe the social system based on promoting the accumulation of capital. Long used mainly as an economic invective, the term only recently has become more glorified by neoliberals, referring mainly to finance capitalism.

Posted on Aug 11, 2013 READ MORE



CarbonNYC (CC BY 2.0)

The Insider’s Economic Dictionary: B Is for Bailout

Republicans and the financial sector sequester the economic surplus in their own hands, price their economic rents to squeeze incomes, and then criminalize poverty as if the poor vote to be poor as a matter of choice!

Posted on Aug 10, 2013 READ MORE



jDevaun (CC BY-ND 2.0)

The Insider’s Economic Dictionary: Part A

Unlike psychological terminology—which consists mainly of terms of invective (try to think of a desirable personality complex)—today’s economic vocabulary is euphemistic. One rarely hears the terms “rentier” or “usury” that played so central a role in the debates of past centuries.

Posted on Aug 9, 2013 READ MORE


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