An in-depth exploration of the Licence Raj, a system of regulations governing the private sector in India implemented by the 1951 Industries (Development and Regulation) Act, and its eventual dismantling during economic liberalization reforms.
Licensure refers to the legal authorization granted by a governmental or professional organization to individuals, allowing them to practice a specific profession or use a designated title within a certain jurisdiction.
An in-depth exploration of the Life Assurance and Unit Trust Regulatory Organization (LAUTRO), its historical context, key roles, and transition to the Financial Conduct Authority.
LISHU refers to the affiliation of a firm in China with the government at various administrative levels, encompassing both private and state-owned enterprises.
An in-depth analysis of the conditions that must be satisfied before a security can be traded on a stock exchange. Detailed requirements, historical context, and practical examples are provided.
A comprehensive overview of the practice of lobbying, including its methods, types, historical context, and impact on policy making.
An exploration into Local Content, its significance in economic policy, its historical evolution, and its implications on international trade and investment.
A detailed exploration of the financial mechanisms, models, and policies that underpin the funding of local authorities, covering historical context, types, key events, importance, and more.
Local taxation refers to taxes imposed by local government authorities rather than central government. This includes taxes such as council tax and business rates in the UK.
An in-depth look into long-arm statutes, which allow states to exercise jurisdiction over out-of-state defendants with certain minimum contacts within the state.
Detailed overview of the Lower Earnings Limit (LEL) in the context of pension accrual and qualifying for Statutory Sick Pay (SSP), including historical context, importance, applicability, examples, related terms, and FAQs.
The term 'Lowest Responsible Bidder' refers to the bidder who meets all specified criteria and offers the lowest price in a procurement process.
The Maastricht Criteria, established by the European Union, set economic guidelines for countries aspiring to join the Eurozone, stipulating that national debt should not exceed 60% of GDP.
The Maastricht Treaty, concluded in 1993, transformed the European Community into the European Union and set the stage for the European Monetary Union and the European Central Bank.
Deep dive into Macroeconomic Policy, including its Definition, Types, Examples, Historical Context, and Related Terms.
Mail-In Voting refers to the process of casting a vote by postal service, allowing voters to participate in elections without being physically present at a polling place.
An in-depth exploration of Mainstream Corporation Tax (MCT), its historical context, key aspects, significance, and impact on businesses.
A comprehensive coverage of the writ of Mandamus, its historical context, types, key events, importance, applicability, related terms, interesting facts, and more.
Expenditures required by existing laws, such as Social Security and Medicare.
A comprehensive exploration of the Margin Scheme, a tax regulation similar to the Second-Hand Goods Scheme, applied in various countries to calculate VAT/GST on used goods.
An overview of the Market Abuse Regulation (MAR) and its role in complementing MiFID II to prevent insider trading and market manipulation in financial markets.
An in-depth look at how government-imposed laws control or supervise market practices, including definitions, types, historical context, applicability, and related terms.
An in-depth look at the Markets in Financial Instruments Directive (MiFID), its historical context, key events, detailed explanations, and its importance in the financial sector.
An in-depth look at maternity leave, its historical context, importance, types, and various aspects affecting employees and employers globally.
An in-depth look at the concept of Maximum Contributory Earnings, synonymous with YMPE, which sets the upper limit of earnings subject to CPP/QPP contributions.
An in-depth exploration of the Meade Review, a pivotal examination of the UK tax system chaired by Nobel Laureate James Meade, and its significant recommendations published in the 1978 Meade Report.
A means test is a procedure to determine if an individual or family is eligible for government assistance or benefits, based on their financial status.
Medicaid Expansion is a provision under the Affordable Care Act (ACA) that allows U.S. states to increase Medicaid eligibility to encompass more low-income individuals, thereby expanding access to healthcare.
A comprehensive overview of the Medicare Surtax, including its definition, applicability, thresholds, and key considerations.
The Medium-Term Financial Strategy (MTFS) represents a policy framework implemented by the UK government in 1980 to control inflation through reductions in government borrowing and money supply growth.
Comprehensive overview of merger control, its importance, historical context, methodologies, key events, examples, and related concepts.
Meritocracy is a governance or societal system where advancement and opportunities are allocated based on individual abilities and achievements rather than social status, wealth, or other non-merit factors.
The Markets in Financial Instruments Directive (MiFID) is a European Union law that provides harmonized regulation for investment services across the 31 member states of the European Economic Area. It aims to increase transparency across the EU’s financial markets and standardize regulatory disclosures required for firms operating in the EU.
An extensive overview of the Markets in Financial Instruments Directive (MiFID), its historical context, key provisions, implications, and related terminologies.
A comprehensive overview of the Markets in Financial Instruments Directive II (MiFID II), focusing on its significance, regulations, historical context, key elements, and impact on financial markets within the European Union.
An in-depth look at the movement of people between regions or countries, encompassing immigration, emigration, temporary and permanent migration, and the factors driving these movements.
A comprehensive overview of the Military Service Number, its historical context, importance, and application prior to the adoption of the Social Security Number (SSN) for military identification.
An in-depth analysis of the Military-Industrial Complex Theory, exploring its historical context, key concepts, and implications on national and global policies.
An in-depth look into the Mine Safety and Health Administration (MSHA), its history, role, regulations, and impact on the mining industry.
A Minimal State is a government whose intervention in the economy is limited to just sufficient activities to sustain organized economic activity. This includes providing policing, a judiciary, and national defense.
A comprehensive exploration of the minimum wage, its historical context, significance, key events, economic theories, global perspectives, and the impact on society.
An in-depth analysis of the Mirrlees Review, its historical context, recommendations, and impact on the UK tax system.
A framework for cooperation and information sharing among IOSCO members.
Comprehensive overview of mobilization, detailing historical context, types, key events, models, importance, examples, related terms, and more.
Model Acts are proposed statutes intended to be enacted by legislatures to address specific issues, often reflecting best practices.
Model Law is a template law created by an international organization, designed to be adopted by individual jurisdictions with minimal modifications to promote legal uniformity.
A comprehensive exploration of monetary policy, its tools, historical context, types, and significance in macroeconomic regulation.
An in-depth exploration of the process of checking whether individuals or firms are actually behaving as they should, encompassing various applications, historical context, key events, types, mathematical models, examples, and related terminology.
The Monopolies and Mergers Commission (MMC) was a UK body responsible for investigating monopolies, mergers, and anti-competitive practices, paving the way for today's Competition and Markets Authority (CMA).
Monopoly Policy focuses on regulating firms with significant market power to ensure fair competition and efficient resource allocation.
An in-depth exploration of the Montgomery G.I. Bill, its history, benefits, and significance for U.S. veterans.
An in-depth comparison of Moral Obligation Bonds and General Obligation Bonds, focusing on definitions, assurances, legal implications, and case studies.
An in-depth exploration of the Most Favored Nation (MFN) principle under the WTO, including historical context, key events, types, importance, and real-world applications.
A principle ensuring that countries do not discriminate between their trading partners by offering the same trade advantages, such as low tariffs or high import quotas, to all.
The MOT Test is a mandatory annual assessment to ensure that vehicles comply with safety, roadworthiness, and emissions standards in the UK.
A separate agency that regulates the safety and health of workers in the mining industry.
An in-depth exploration of Missing Trader Intra-Community (MTIC) Fraud, a significant type of VAT fraud that impacts economies across the European Union.
An in-depth examination of Multidistrict Litigation (MDL), a legal procedure designed to consolidate related lawsuits for pretrial proceedings.
A comprehensive overview of Multilateral Agreements, their historical context, types, key events, importance, applicability, examples, related terms, and more.
A comprehensive guide to Multilateral Trading Facilities (MTFs), their definition, historical context, types, importance, key events, examples, and comparisons with other trading systems.
Multiple Award Schedule (MAS) contracts are procurement vehicles that provide discounted prices on a wide range of products and services to federal agencies, enhancing efficiency and cost savings.
An in-depth look at the system by which a country's currency can have more than one exchange rate with any foreign currency, including historical context, types, key events, explanations, and practical implications.
Detailed insight into the role and responsibilities of Municipal Advisors, professionals who provide essential advice to municipal entities on matters related to securities issuances.
Municipal authorities are local government entities established to manage specific city services like water supply and public transport, ensuring efficient and effective service delivery to urban populations.
An in-depth exploration of the National Ambient Air Quality Standards (NAAQS), their historical context, importance, and impact on environmental policy.
Comprehensive overview of NAFTA, including historical context, importance, key events, and more.
An in-depth overview of the North American Industry Classification System, which replaced the Standard Industrial Classification (SIC) system in 1997, including historical context, types, importance, and applications.
An in-depth look at the North American Securities Administrators Association (NASAA), its history, roles, functions, and impact on state-level securities regulation.
National Ambient Air Quality Standards (NAAQS) are regulations set by the Environmental Protection Agency (EPA) to control the concentration of pollutants harmful to public health and the environment.
An overview of the National Archives and Records Administration, its historical context, key functions, and significance in preserving federal records.
A comprehensive overview of the National Flood Insurance Program (NFIP), a federal initiative to provide affordable flood insurance to property owners, reduce flood-related losses, and promote floodplain management strategies.
National Insurance contributions fund state benefits and pensions, impacting net income in the UK and are comparable to Social Security in the USA.
An in-depth examination of National Insurance Contributions (NICs), including their history, types, key events, mathematical models, importance, applicability, examples, and related terms.
An in-depth look at National Insurance Contributions (NICs), their importance, types, historical context, and how they work.
An in-depth look into National Insurance Contributions (NICs) in the UK, their history, types, key events, formulas, and their significance.
An exploration of national monopolies where the government is the sole provider, covering historical context, categories, key events, models, and their significance in economics.
The National Park Service (NPS) is a federal agency responsible for managing national parks and monuments across the United States. This entry explores its functions, history, and importance.
An overview of the United States' official list of historic districts, sites, buildings, structures, and objects that are deemed worthy of preservation.
A comprehensive look at the National Rural Employment Guarantee Act, focusing on its historical context, features, significance, implementation, and impact on rural employment in India.
An exploration of National Treatment which ensures that foreign products, services, or nationals are treated equally to domestic ones within a country's borders.
An overview of the principle of National Treatment in trade agreements, ensuring foreign firms' products are treated equally to domestic firms' products after border measures.
Comprehensive overview of national wealth, encompassing the value of personal and collective assets, including land and natural resources, contributing to a nation's economic prosperity.
Nationality refers to the legal relationship between an individual and a state, often encompassing citizenship, cultural identity, and the associated rights and obligations.
Comprehensive coverage on the concept of nationalization, its historical context, types, key events, detailed explanations, importance, applicability, examples, and more.
Nationalization refers to the process of bringing resources and activities formerly operated by private businesses or local organizations under government ownership and control. It is the opposite process to privatization.
An industry whose ownership has been taken over by the state. Nationalization motives vary: moderating monopoly power, enhancing economic efficiency, subsidizing employment, or reducing private capitalists' power.
The Natural Gas Act of 1938 extended the Federal Power Commission’s regulation to encompass interstate natural gas pipelines and sales.
Understanding the legal process by which a non-citizen acquires citizenship, particularly focusing on the U.S. system.
A comprehensive examination of NDP (Net Domestic Product), its significance, calculation, and application in economic analysis.
An in-depth examination of Negative Income Tax, a proposal to combine income tax payments and social security benefits into a single, integrated system.
An in-depth look at the National Environmental Policy Act (NEPA) that governs environmental review processes for federal actions.
An in-depth look at the New Markets Tax Credit (NMTC) program, designed to spur investment in low-income communities through federal tax incentives.
New Public Management (NPM) refers to a series of reforms and administrative practices designed to bring efficiency, transparency, and accountability to the public sector by adopting private sector management techniques.
An in-depth overview of the New State Pension in the UK, including its historical context, structure, key events, calculations, and significance.
NextGen represents a transformative modernization of the United States air traffic control system encompassing advanced technologies, methodologies, and collaborative efforts to improve efficiency, safety, and environmental sustainability in aviation.
The National Flood Insurance Program (NFIP) is a government-backed initiative that aims to reduce the impact of flooding by providing insurance coverage to property owners in high-risk and participating communities.
Exploration of Non-Governmental Organizations (NGOs), their roles, types, examples, historical context, and significant impact on society.
The Nice Treaty, preceding the Lisbon Treaty, focused on essential institutional reforms to accommodate new member states in the European Union.
An in-depth look at National Insurance Contributions (NICs) in the UK, including their historical context, importance, types, key events, and more.
An official responsible for managing and promoting a city's Night Economy, ensuring vibrant, safe, and sustainable nightlife.
