Dictionary of Economics(1).pdf

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Dictionary of
Economics
A & C Black
London
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www.acblack.com
First published in Great Britain in 2003
Reprinted 2006
A & C Black Publishers Ltd
38 Soho Square, London W1D 3HB
© P. H. Collin 2003
All rights reserved. No part of this publication may be reproduced
in any form or by any means without the permission of the publishers
A CIP record for this book is available from the British Library
eISBN-13: 978-1-4081-0221-3
Text Production and Proofreading
Heather Bateman, Katy McAdam
A & C Black uses paper produced with elemental chlorine-free pulp,
harvested from managed sustainable forests.
Text typeset by A & C Black
Printed in Italy by Legoprint
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Preface
Economics is the basis of our daily lives, even if we do not always realise it. Whether
it is an explanation of how firms work, or people vote, or customers buy, or
governments subsidise, economists have examined evidence and produced theories
which can be checked against practice.
This book aims to cover the main aspects of the study of economics which students
will need to learn when studying for examinations at various levels. The book will
also be useful for the general reader who comes across these terms in the financial
pages of newspapers as well as in specialist magazines.
The dictionary gives succinct explanations of the 3,000 most frequently found terms.
It also covers the many abbreviations which are often used in writing on economic
subjects. Entries are also given for prominent economists, from Jeremy Bentham to
John Rawls, with short biographies and references to their theoretical works.
Where necessary cross-references are given so that the reader can refer to other
comparable entries.
I am grateful to the following for their valuable comments on the text: Barbara
Docherty, Lesley Brown and Jill Garner.
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