(Encyclopedia) speculation, practice of engaging in business in order to make quick profits from fluctuations in prices, as opposed to the practice of investing in a productive enterprise in order to…
(Encyclopedia) Friedman, MiltonFriedman, Miltonfrēdˈmən [key], 1912–2006, American economist, b. New York City, Ph.D. Columbia, 1946. Friedman was influential in helping to revive the monetarist…
(Encyclopedia) competition, in economics, rivalry in supplying or acquiring an economic service or good. Sellers compete with other sellers, and buyers with other buyers. In its perfect form, there…
(Encyclopedia) Böhm-Bawerk, EugenBöhm-Bawerk, Eugenoigānˈ bömˈ-bäˈvĕrk [key], 1851–1914, Austrian economist. Three times minister of finance (1895, 1897, and 1900), he initiated important tax reforms…
(Encyclopedia) Chapman, John, 1774–1845, American pioneer, more familiarly known as Johnny Appleseed, b. Massachusetts. From Pennsylvania—where he had sold or given saplings and apple seeds to…
(Encyclopedia) program trading, a form of securities trading, also known as index arbitrage. Program traders exploit the price discrepancies between indexes of stocks and futures contracts by using…
(Encyclopedia) sable, species of marten, Martes zibellina, found in Siberia, N European Russia, and N Finland. This carnivorous mammal is highly valued for its thick, soft fur, which is dark brown or…
(Encyclopedia) Glanvill or Glanvil, JosephGlanvill or Glanvil, Josephglănˈvĭl [key], 1636–80, English clergyman and philosopher. He was chaplain in ordinary to Charles II and prebendary of Worcester…
(Encyclopedia) Andreas, Dwayne Orville, 1918–2016, American business executive, b. Worthington, Minn. He worked in the family soybean-processing business, becoming a Cargill vice president when it…
(Encyclopedia) Day, Benjamin Henry, 1810–89, American journalist. He learned the printer's trade in the office of the Springfield (Mass.) Republican and opened a printing office in New York City.…
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