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FIRE Economy
A FIRE economy is any economy based primarily on the finance, insurance, and real estate sectors. Finance, insurance, and real estate are United States Census Bureau classifications. Barry Popik describes some early uses as far back as 1982. Since 2008, the term has been commonly used by Michael Hudson and Eric Janszen. It is New York City's largest industry and a prominent part of the service industry in the United States overall economy and other Western developed countries. Census Bureau classification This term is frequently used in the financial press and blogs. Its origin is in the realm of North American industrial classification. "Finance, Insurance, and Real Estate" is the title of ''1992 U.S. Census Bureau Standard Industrial Classification (SIC) Division H''. Its coverage was "All domestic establishments that provide financial, insurance, or real estate services." Its coverage was elaborated in two-digit SIC codes 60 through 67. The SIC was replaced by the North ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Finance
Finance refers to monetary resources and to the study and Academic discipline, discipline of money, currency, assets and Liability (financial accounting), liabilities. As a subject of study, is a field of Business administration, Business Administration wich study the planning, organizing, leading, and controlling of an organization's resources to achieve its goals. Based on the scope of financial activities in financial systems, the discipline can be divided into Personal finance, personal, Corporate finance, corporate, and public finance. In these financial systems, assets are bought, sold, or traded as financial instruments, such as Currency, currencies, loans, Bond (finance), bonds, Share (finance), shares, stocks, Option (finance), options, Futures contract, futures, etc. Assets can also be banked, Investment, invested, and Insurance, insured to maximize value and minimize loss. In practice, Financial risk, risks are always present in any financial action and entities. Due ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Conventional Wisdom
The conventional wisdom or received opinion is the body of ideas or explanations generally accepted by the public and/or by experts in a field. History The term "conventional wisdom" dates back to at least 1838, as a synonym for "commonplace knowledge". It was used in a number of works, occasionally in a benign''E.g.,'1 Nahum Capen, ''The History of Democracy'' (1874), page 477("millions of all classes alike are equally interested and protected by the practical judgment and conventional wisdom of ages"). or neutral''E.g.,'"Shallow Theorists", ''American Educational Monthly'' 383 (Oct. 1866)("What is the result? Just what conventional wisdom assumes it would be."). sense, but more often pejoratively.''E.g.,'Joseph Warren Beach, ''The Technique of Thomas Hardy'' (1922), page 152("He has not the colorless monotony of the business man who follows sure ways to success, who has conformed to every rule of conventional wisdom, and made himself as featureless as a potato field, as tame as ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Services Sector Of The Economy
Service may refer to: Activities * Administrative service, a required part of the workload of university faculty * Civil service, the body of employees of a government * Community service, volunteer service for the benefit of a community or a punishment that may be imposed by a court * Fan service, a Japanese term referring to something which is specifically designed to entertain fans * Feudal service, see Feudal land tenure in England * Funeral or memorial service * Military service, serving in a country's armed forces * Public service, services carried out with the aim of providing a public good * Selfless service, a service which is performed without any expectation of result or award Arts, entertainment, and media * ''Service'' (album), a 1983 album by Yellow Magic Orchestra * ''Service'' (film), a 2008 film * ''Service'' (play), a 1932 play by British writer Dodie Smith * Service (record label), a Swedish record label * "Service" (''The Walking Dead''), a 2016 te ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic Systems
An economic system, or economic order, is a system of production, resource allocation and distribution of goods and services within an economy. It includes the combination of the various institutions, agencies, entities, decision-making processes, and patterns of consumption that comprise the economic structure of a given community. An economic system is a type of social system. The mode of production is a related concept. All economic systems must confront and solve the four fundamental economic problems: * What kinds and quantities of goods shall be produced: This fundamental economic problem is anchored on the theory of pricing. The theory of pricing, in this context, has to do with the economic decision-making between the production of capital goods and consumer goods in the economy in the face of scarce resources. In this regard, the critical evaluation of the needs of the society based on population distribution in terms of age, sex, occupation, and geography is very ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financialization
Financialization (or financialisation in British English) is a term sometimes used to describe the development of financial capitalism during the period from 1980 to the present, in which debt-to-equity ratios increased, and financial services accounted for an increasing share of national income relative to other sectors. Financialization describes an economic process by which exchange is facilitated through the intermediation of financial instruments. Financialization may permit real goods, services, and risks to be readily exchangeable for currency, and thus make it easier for people to rationalize their assets and income flows. Financialization is tied to the transition from an industrial economy to a service economy, as financial services belong to the tertiary sector of the economy. Specific academic approaches Various definitions, focusing on specific aspects and interpretations, have been used: * Greta Krippner of the University of Michigan writes that financial ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Exurb
An exurb (or alternately: exurban area) is an area outside the typically denser inner suburbs, suburban area, at the edge of a metropolitan area, which has some economic and commuting connection to the metro area, low housing-density, and relatively high population-growth. It shapes an interface between urban area, urban and rural area, rural landscapes, holding a limited urban nature for its functional, economic, and social interaction with the city centre, urban center, due to its dominant residential character. Exurbs consist of "agglomerations of housing and jobs outside the municipal boundaries of a primary city" and beyond the surrounding suburbs. Definitions The word ''exurb'' (a portmanteau of ''extra (outside)'' and ''urban'') was coined by Auguste Comte Spectorsky, in his 1955 book ''The Exurbanites'', to describe the ring of prosperous communities beyond the suburbs, that are commuter towns for an urban area. In other uses the term has expanded to include popular ext ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Edge City
An edge city is a concentration of business, shopping, and entertainment outside a traditional downtown or central business district, in what had previously been a suburban, residential or rural area. The term was popularized by the 1991 book ''Edge City: Life on the New Frontier'' by Joel Garreau, who established its current meaning while working as a reporter for ''The Washington Post''. Garreau argues that the edge city has become the standard form of urban growth worldwide, representing a 20th-century urban form unlike that of the 19th-century central downtown. Other terms for these areas include ''suburban activity centers'', ''megacenters'', and ''suburban business districts''. These districts have now developed in many countries. Definitions In 1991, Garreau established five rules for a place to be considered an edge city: * Has five million or more square feet (465,000 m2) of leasable office space * Has 600,000 square feet (56,000 m2) or more of leasable retail space ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Boomburb
A boomburb is a large, rapidly-growing city that remains essentially suburban in character, even as it reaches populations more typical of urban core cities. It describes a relatively recent phenomenon in a United States context. The neologism was principally promoted by American Robert E. Lang of the Metropolitan Institute at Virginia Tech. Definition Boomburbs are defined as incorporated places in the top 50 Metropolitan areas in the United States of more than 100,000 residents, but that are not the core cities in their metropolitan areas and have maintained double-digit rates of population growth (10% or more) over consecutive censuses between 1970 and 2000. As of the 2000 Census, the United States contained 54 boomburbs, which accounted for about half of the 1990s growth in cities with between 100,000 and 500,000 residents. List of boomburbs The Robert E. Lang of Metropolitan Institute at Virginia Tech listed 54 boomburbs. [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
NAICS
The North American Industry Classification System or NAICS () is a classification of business establishments by type of economic activity (the process of production). It is used by governments and business in Canada, Mexico, and the United States of America. It has largely replaced the older Standard Industrial Classification (SIC) system, except in some government agencies, such as the U.S. Securities and Exchange Commission (SEC). An establishment is typically a single physical location, though administratively distinct operations at a single location may be treated as separate establishments. Each establishment is classified as an industry according to the primary business activity taking place there. NAICS does not offer guidance on organizing enterprises (companies) composed of multiple establishments. Codes The NAICS numbering system employs a five or six-digit code at the most detailed industry level. The first five digits are generally (although not always strictly) t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Insurance
Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to protect against the risk of a contingent or uncertain loss. An entity which provides insurance is known as an insurer, insurance company, insurance carrier, or underwriter. A person or entity who buys insurance is known as a policyholder, while a person or entity covered under the policy is called an insured. The insurance transaction involves the policyholder assuming a guaranteed, known, and relatively small loss in the form of a payment to the insurer (a premium) in exchange for the insurer's promise to compensate the insured in the event of a covered loss. The loss may or may not be financial, but it must be reducible to financial terms. Furthermore, it usually involves something in which the insured has an insurable interest established by o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Standard Industrial Classification
The Standard Industrial Classification (SIC) is a system for classifying industries by a four-digit code as a method of standardizing industry classification for statistical purposes across agencies. Established in the United States in 1937, it is used by government agencies to classify industry areas. Similar SIC systems are also used by agencies in other countries, e.g., by the United Kingdom's Companies House. In the United States, the SIC system was last revised in 1987 and was last used by the Census Bureau for the 1992 Economic Census, and has been replaced by the North American Industry Classification System (NAICS code), which was released in 1997. Some U.S. government departments and agencies, such as the U.S. Securities and Exchange Commission (SEC), continue to use SIC codes. The SIC code for an establishment, that is, a unique business with a registered U.S. headquarters, was determined by the industry appropriate for the overall largest product lines of the company ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
New York City
New York, often called New York City (NYC), is the most populous city in the United States, located at the southern tip of New York State on one of the world's largest natural harbors. The city comprises five boroughs, each coextensive with a respective county. The city is the geographical and demographic center of both the Northeast megalopolis and the New York metropolitan area, the largest metropolitan area in the United States by both population and urban area. New York is a global center of finance and commerce, culture, technology, entertainment and media, academics, and scientific output, the arts and fashion, and, as home to the headquarters of the United Nations, international diplomacy. With an estimated population in 2024 of 8,478,072 distributed over , the city is the most densely populated major city in the United States. New York City has more than double the population of Los Angeles, the nation's second-most populous city. [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
