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Incomes Policy
Incomes policies in economics are economy-wide wage and price controls, most commonly instituted as a response to inflation, and usually seeking to establish wages and prices below free-market level. Incomes policies have often been resorted to during wartime. During the French Revolution, " The Law of the Maximum" imposed price controls (by penalty of death) in an unsuccessful attempt to curb inflation, and such measures were also attempted after World War II. Peacetime income policies were resorted to in the U.S. in August 1971 as a response to inflation. The wage and price controls were effective initially but were made less restrictive in January 1973, and later removed when they seemed to be having no effect on curbing inflation. Incomes policies were successful in the United Kingdom during World War II but less successful in the post-war era. Theory Incomes policies vary from voluntary wage and price guidelines to mandatory controls like price/wage freezes. One var ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economics
Economics () is a behavioral science that studies the Production (economics), production, distribution (economics), distribution, and Consumption (economics), consumption of goods and services. Economics focuses on the behaviour and interactions of Agent (economics), economic agents and how economy, economies work. Microeconomics analyses what is viewed as basic elements within economy, economies, including individual agents and market (economics), markets, their interactions, and the outcomes of interactions. Individual agents may include, for example, households, firms, buyers, and sellers. Macroeconomics analyses economies as systems where production, distribution, consumption, savings, and Expenditure, investment expenditure interact; and the factors of production affecting them, such as: Labour (human activity), labour, Capital (economics), capital, Land (economics), land, and Entrepreneurship, enterprise, inflation, economic growth, and public policies that impact gloss ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Labor Unions
A trade union (British English) or labor union (American English), often simply referred to as a union, is an organization of workers whose purpose is to maintain or improve the conditions of their employment, such as attaining better wages and Employee benefits, benefits, improving Work (human activity), working conditions, improving safety standards, establishing complaint procedures, developing rules governing status of employees (rules governing promotions, just-cause conditions for termination) and protecting and increasing the bargaining power of workers. Trade unions typically fund their head office and legal team functions through regularly imposed fees called ''union dues''. The union representatives in the workforce are usually made up of workplace volunteers who are often appointed by members through internal democratic elections. The trade union, through an elected leadership and bargaining committee, bargains with the employer on behalf of its members, known as t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Vegetable
Vegetables are edible parts of plants that are consumed by humans or other animals as food. This original meaning is still commonly used, and is applied to plants collectively to refer to all edible plant matter, including edible flower, flowers, fruits, edible plant stem, stems, leaf vegetable, leaves, list of root vegetables, roots, and list of edible seeds, seeds. An alternative definition is applied somewhat arbitrarily, often by culinary and cultural tradition; it may include savoury fruits such as tomatoes and courgettes, flowers such as broccoli, and seeds such as Pulse (legume), pulses, but exclude foods derived from some plants that are fruits, flowers, nut (fruit), nuts, and cereal grains. Originally, vegetables were collected from the wild by hunter-gatherers and entered cultivation in several parts of the world, probably during the period 10,000 BC to 7,000 BC, when a new History of agriculture, agricultural way of life developed. At first, plants that g ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bread
Bread is a baked food product made from water, flour, and often yeast. It is a staple food across the world, particularly in Europe and the Middle East. Throughout recorded history and around the world, it has been an important part of many cultures' diets. It is one of the oldest human-made foods, having been of significance since the dawn of Agriculture#History, agriculture, and plays an essential role in both religious rituals and secular culture. Bread may be Leavening agent, leavened by naturally occurring microbes (e.g. sourdough), chemicals (e.g. baking soda), industrially produced Baker's yeast, yeast, or high-pressure aeration, which creates the gas bubbles that fluff up bread. Bread may also be Unleavened bread, unleavened. In many countries, mass-produced bread often contains Food additive, additives to improve flavor, texture, color, shelf life, nutrition, and ease of production. Etymology The Old English language, Old English word for bread was ( in Gothic langua ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
French First Republic
In the history of France, the First Republic (), sometimes referred to in historiography as Revolutionary France, and officially the French Republic (), was founded on 21 September 1792 during the French Revolution. The First Republic lasted until the declaration of the First French Empire, First Empire on 18 May 1804 under Napoleon, Napoléon Bonaparte, although the form of government changed several times. On 21 September 1792, the deputies of the Convention, gathered for the first time, unanimously decide the Proclamation of the abolition of the monarchy, abolition of the constitutional monarchy in France. Although the Republic was never officially proclaimed on 22 September 1792, the decision was made to date the acts from the year I of the Republic. On 25 September 1792, the Republic was declared "one and indivisible". From 1792 to 1802, France was at war with the rest of Europe. It also experienced internal conflicts, including the War in the Vendée, wars in Vendée. Th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Price Gouging
Price gouging is the practice of increasing the prices of goods, services, or commodities to a level much higher than is considered reasonable or fair by some. This commonly applies to price increases of basic necessities after natural disasters. Usually, this event occurs after a demand or supply shock. The term can also be used to refer to profits obtained by practices inconsistent with a competitive free market, or to windfall profits. In some jurisdictions of the United States during civil emergencies, price gouging is a specific crime. Price gouging is considered by some to be exploitative and unethical and by others as a pejorative term for the simple result of supply and demand. Price gouging is similar to profiteering but can be distinguished by being short-term and localized and by being restricted to essentials such as food, clothing, shelter, medicine, and equipment needed to preserve life and property. In jurisdictions where there is no such crime, the term may ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Guillotine
A guillotine ( ) is an apparatus designed for effectively carrying out executions by Decapitation, beheading. The device consists of a tall, upright frame with a weighted and angled blade suspended at the top. The condemned person is secured with a pillory at the bottom of the frame, holding the position of the neck directly below the blade. The blade is then released, swiftly and forcefully decapitating the victim with a single, clean pass; the head falls into a basket or other receptacle below. The guillotine is best known for its use in France, particularly during the French Revolution, where the revolution's supporters celebrated it as the people's avenger and the revolution's opponents vilified it as the pre-eminent symbol of the violence of the Reign of Terror. While the name "guillotine" dates from this period, similar devices had been in use elsewhere in Europe over several centuries. Use of an oblique blade and the pillory-like restraint device set this type of gui ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Food Prices
Food prices refer to the average price level for food across countries, regions and on a global scale. Food prices affect producers and consumers of food. Price levels depend on the food production process, including food marketing and food distribution. Fluctuation in food prices is determined by a number of compounding factors. Geopolitical events, global demand, exchange rates, government policy, diseases and crop yield, energy costs, availability of natural resources for agriculture, food speculation, changes in the use of soil and weather events directly affect food prices. To a certain extent, adverse price trends can be counteracted by food politics. The consequences of food price fluctuation are multiple. Increases in food prices, or agflation, endangers food security, particularly for developing countries, and can cause social unrest. Increases in food prices is related to disparities in diet quality and health, particularly among vulnerable populations, such as wo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Money
Money is any item or verifiable record that is generally accepted as payment for goods and services and repayment of debts, such as taxes, in a particular country or socio-economic context. The primary functions which distinguish money are: medium of exchange, a unit of account, a store of value and sometimes, a standard of deferred payment. Money was historically an emergent market phenomenon that possessed intrinsic value as a commodity; nearly all contemporary money systems are based on unbacked fiat money without use value. Its value is consequently derived by social convention, having been declared by a government or regulatory entity to be legal tender; that is, it must be accepted as a form of payment within the boundaries of the country, for "all debts, public and private", in the case of the United States dollar. The money supply of a country comprises all currency in circulation (banknotes and coins currently issued) and, depending on the particular definiti ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Planned Economy
A planned economy is a type of economic system where investment, production and the allocation of capital goods takes place according to economy-wide economic plans and production plans. A planned economy may use centralized, decentralized, participatory or Soviet-type forms of economic planning. The level of centralization or decentralization in decision-making and participation depends on the specific type of planning mechanism employed. Socialist states based on the Soviet model have used central planning, although a minority such as the former Socialist Federal Republic of Yugoslavia have adopted some degree of market socialism. Market abolitionist socialism replaces factor markets with direct calculation as the means to coordinate the activities of the various socially owned economic enterprises that make up the economy. More recent approaches to socialist planning and allocation have come from some economists and computer scientists proposing planning mechanisms ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Central Bank
A central bank, reserve bank, national bank, or monetary authority is an institution that manages the monetary policy of a country or monetary union. In contrast to a commercial bank, a central bank possesses a monopoly on increasing the monetary base. Many central banks also have supervisory or regulatory powers to ensure the stability of commercial banks in their jurisdiction, to prevent bank runs, and, in some cases, to enforce policies on financial consumer protection, and against bank fraud, money laundering, or terrorism financing. Central banks play a crucial role in macroeconomic forecasting, which is essential for guiding monetary policy decisions, especially during times of economic turbulence. Central banks in most developed nations are usually set up to be institutionally independent from political interference, even though governments typically have governance rights over them, legislative bodies exercise scrutiny, and central banks frequently do show resp ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Monetary Inflation
Monetary inflation is a sustained increase in the money supply of a country (or currency area). Depending on many factors, especially public expectations, the fundamental state and development of the economy, and the transmission mechanism, it is likely to result in price inflation, which is usually just called "inflation", which is a rise in the general level of prices of goods and services. There is general agreement among economists that there is a causal relationship between monetary inflation and price inflation. But there is neither a common view about the exact theoretical mechanisms and relationships, nor about how to accurately measure it. This relationship is also constantly changing, within a larger complex economic system. So there is a great deal of debate on the issues involved, such as how to measure the monetary base and price inflation, how to measure the effect of public expectations, how to judge the effect of financial innovations on the transmission mecha ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
