A reserve rule requiring the bank issuing a currency to hold gold of equal value. Learn the historical context, key aspects, and implications of 100 per cent gold backing.
A comprehensive analysis of Bank Run, its historical context, causes, effects, and measures to prevent it. Explore the intricacies of financial crises and systemic risks associated with bank runs.
A detailed exploration of Black Monday, the day on 19 October 1987 when global stock markets collapsed, the events that led to it, and its aftermath.
A comprehensive exploration of economic bubbles, their historical context, types, key events, detailed explanations, and significant implications.
A comprehensive overview of economic bubbles, historical context, key events, types, significance, and related concepts.
An exploration into the field of cliometrics, its historical context, methodologies, key events, and importance in economic history.
An extensive guide to understanding debt, its types, historical context, key events, importance, applicability, and more.
A comprehensive overview of the Delors Report, the foundational document proposing a single currency and common monetary policy for the European Community.
Demutualization is the process by which a mutual organization, such as a building society, changes its status to that of a public limited company, prevalent in the financial services industry during the 1980s and 1990s.
The European Monetary System (EMS) was established in 1979 with the aim of coordinating monetary policy and exchange rates across Europe, primarily through the Exchange Rate Mechanism and laying the groundwork for the European Monetary Union.
A detailed exploration of the Exchange Rate Mechanism (ERM), a vital feature of the European Monetary System (EMS), its historical context, structure, significance, and the transition to the Euro.
The Federation of British Industries (FBI) was an influential organization that represented British businesses before it merged to form the Confederation of British Industry (CBI).
An in-depth look into the Feudal System, a political and economic system that dominated medieval Europe, characterized by hierarchical relationships and land ownership.
A comprehensive overview of Feudal Tenure, exploring its historical context, types, key events, implications, and related terminology.
A comprehensive exploration of financial bubbles, their history, types, key events, models, and implications in the financial world.
Legislation enacted in 1989 to reform, recover, and enforce regulations within the financial institutions sector, including the dissolution of the FSLIC.
The Franc Fort policy aimed to control inflation by linking currency values to a low-inflation country. France and Belgium utilized this strategy in the 1980s and early 1990s.
An in-depth exploration of global trade, its history, types, key events, mathematical models, importance, applicability, examples, considerations, and related terms.
The Gold Exchange Standard was a significant monetary system where currencies were valued based on their equivalent value in gold, implemented during the 19th and early 20th centuries to stabilize and facilitate international trade.
Gold Parity refers to the official par value in terms of gold of the currency of a country on the gold standard.
GOSPLAN, the State Planning Committee, was the central planning agency of the former Soviet Union, responsible for formulating and implementing economic plans.
Hoovervilles were makeshift shantytowns that sprung up during the Great Depression, populated by homeless and unemployed individuals and named after President Herbert Hoover, whom many blamed for the economic crisis.
The process of moving resources into the industrial sector, commonly seen in early economic development stages, significantly shaping modern economies and societies.
A comprehensive look at Joint-Stock Companies, their historical context, structure, significance, and examples.
The Kennedy Round of international trade talks held under the General Agreement on Tariffs and Trade (GATT) in 1964-1967. It aimed to reduce tariffs on manufacturing goods significantly.
A comprehensive exploration of the emergence of computerized accounting systems during the late 20th century, including historical context, types, key events, and their impact on various sectors.
An in-depth exploration of the Latin American Debt Crisis, its causes, impacts, and subsequent economic reforms.
An in-depth exploration of the concept of medium of exchange, its historical context, types, importance, and applications in economic transactions.
An in-depth look at the National Economic Council in the United States and the United Kingdom, their historical contexts, functions, importance, and differences.
An exploration of the Red Hat Enterprise phenomenon in China, where privately owned businesses were officially registered as public entities.
Representative Money is a type of money that represents a claim on a commodity that can be redeemed, such as gold certificates. This entry provides a comprehensive understanding, examples, and historical context of Representative Money.
The historical principles under which the gold standard operated, aimed at maintaining equilibrium in international payments by adjusting interest rates and money supply based on gold flows.
The Sandilands Committee was established in 1975 to consider the best methods for accounting for inflation in company financial statements. It recommended current-cost accounting, which eventually fell out of favor as inflation rates decreased.
A provision in the original rules of the International Monetary Fund (IMF), aimed at addressing potential shortages of a particular currency, the Scarce Currency Clause allowed member countries to discriminate against the country's goods in their trade policies.
A comprehensive exploration of the Silk Road, a network of trade routes that facilitated cultural, commercial, and technological exchange between the East and the West.
The Smithsonian Parities represent a significant moment in economic history, marking the 1971 agreement to establish new parities for major world currencies following the collapse of the Bretton Woods system.
An exploration of the Smoot-Hawley Tariff Act of 1930, its historical context, impact on the Great Depression, and its long-term economic implications.
An in-depth exploration of the 'Snake in the Tunnel,' an expression denoting an agreement by a group of countries to stabilize exchange rates within narrower margins than allowed by a broader flexible exchange rate system. This system was employed by some European countries before the European Monetary System's inception in 1979.
A comprehensive guide to understanding stock market crashes, their causes, historical examples, impact, and prevention measures.
An in-depth look at structural changes in economies, including types, causes, effects, and key historical events.
An in-depth look at the Tibetan Srang, its origins, usage, and significance in Tibet's economic history.
An in-depth examination of the United States budget deficit, its historical context, key events, and implications for the economy.
Autarky is a policy by which a nation aims to achieve complete economic independence by limiting external trade and producing all necessary goods domestically.
A detailed examination of Black Friday, its origins, and its implications in financial markets.
The Great Depression was a severe global economic downturn that began in 1929 and lasted until World War II. Characterized by a massive decline in economic activity and high unemployment rates, it had profound social and political impacts worldwide.
The Mercantile System, a fundamental economic system where government policies regulated trade with the intention of maximizing exports and minimizing imports, operated primarily by merchants during the 16th to 18th centuries.
Definition and Context of Pin Money: A small sum for incidental expenses or a minor cash advance associated with major contracts.
An in-depth look at the Rust Belt, its significance, economic transformation, and current state.
A glossary entry defining the role, history, and economic implications of sharecroppers.
An in-depth exploration of the Asian Financial Crisis, including its causes, governmental and institutional responses, and the valuable lessons learned from this pivotal economic event.
An in-depth look at Black Tuesday, October 29, 1929, when the DJIA fell 12%. Learn about its definition, historical significance, and long-term economic impact.
Explore the concept of Cottage Industry, a small-scale manufacturing business typically owned and operated by an individual or family within their home. Understand its history, types, examples, and economic impact.
An in-depth look at David Ricardo, a seminal figure in classical economics, renowned for his insights on wages, profit, labor theory of value, and comparative advantage.
An in-depth exploration of the European Sovereign Debt Crisis, its origins, consequences, and the lessons learned.
A comprehensive guide to the Federal Reserve System (FRS), detailing its functions, organizational structure, historical development, and its role in the U.S. monetary and financial system.
A detailed exploration of the Group of 3 (G3) free trade agreement between Colombia, Mexico, and Venezuela, operational from 1995 to 2005. Includes key details on its purpose, how it functioned, and its long-term impact.
In-depth exploration of the Group of Eight (G-8), its formation, evolution, key functions, criticisms, and eventual replacement by the G-7.
A comprehensive overview of John R. Hicks, his early life, groundbreaking contributions to economic theory, and enduring legacy in the field of economics.
An in-depth exploration of Macroeconomics, covering its definition, historical development, key schools of thought, and critical factors influencing overall economic performance.
Mercantilism was the primary economic system of trade between the 16th and the 18th centuries, characterized by the belief that the amount of wealth in the world was static, leading to policies aimed at accumulating wealth through a favorable balance of trade.
A comprehensive exploration of Numeraire, its definition, historical development, and its role in economic comparisons.
Explore the objective analysis of economic phenomena through the lens of Positive Economics. Learn about its history, underlying theory, benefits and limitations, and real-world examples.
Explore the concept of reserve requirements, their vital role in banking and economic stability, historical evolution, real-world examples, and their impact on financial systems.
An in-depth exploration of Robber Barons, their definition, historical significance, the criticism they faced, and notable examples from America's Gilded Age.
Explore the Silk Route: Its origins, historical impact, and the remnants in modern times. Understand its significance from the second century B.C. to the 14th century A.D.
In-depth analysis of the Great Depression, including its origins, major causes, significant impacts, and long-term consequences on the global economy.
An in-depth look at the period of decreased macroeconomic volatility in the United States from the mid-1980s to the financial crisis in 2007, its causes, implications, and aftermath.
A comprehensive examination of the Office of Thrift Supervision (OTS), its historical context, regulatory role, and the impact on the nation's savings and loan industry.
Explore the definition, history, and key examples of the Old Economy, including how it shaped industrial and manufacturing sectors and its relevance in modern times.
An in-depth exploration of usury, including its definition, operational mechanisms, legal implications, examples, and historical context.
An in-depth exploration of Wildcat Banking in the United States from 1837 to 1865, including its origins, practices, economic impact, and legacy.
