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puts and calls

(Encyclopedia)puts and calls, in securities trading. A call is a contract that gives the holder the right to purchase a given stock at a specific price within a designated period of time. It is the opposite of a pu...

Volcker, Paul Adolph

(Encyclopedia)Volcker, Paul Adolph, 1927–2019, American economist, government official, and banker, b. Cape May, N.J. After working as an under secretary in the Treasury Department (1969–74) and as president of...

value, in economics

(Encyclopedia)value, in economics, worth of a commodity in terms of other commodities, or in terms of money (see price). Value depends on both desirability and scarcity. The marginal theory of value, pioneered in t...

Williams, William Carlos

(Encyclopedia)Williams, William Carlos, 1883–1963, American poet and physician, b. Rutherford, N.J., educated in Geneva, Switzerland, Univ. of Pennsylvania (M.D., 1906), and Univ. of Leipzig, where he studied ped...

Sinclair, Upton

(Encyclopedia)Sinclair, Upton (Upton Beall Sinclair), 1878–1968, American novelist and socialist activist, b. Baltimore, grad. College of the City of New York, 1897. He was one of the muckrakers, and a dedication...

Beaufort, Henry

(Encyclopedia)Beaufort, Henry bōˈfərt [key], 1377?–1447, English prelate and statesman. The son of John of Gaunt, duke of Lancaster, and his mistress (later wife) Catherine Swynford, he was half-brother to Hen...

supply and demand

(Encyclopedia)supply and demand, in classical economics, factors that are said to determine price, by correlating the amount of a given commodity producers hope to sell at a certain price (supply), and the amount o...

Yunus, Muhammad

(Encyclopedia)Yunus, Muhammad, 1940–, Bangladeshi economist and banker, b. Chittagong (then in British India), grad. Vanderbilt Univ., Nashville, Tenn. (Ph.D. 1971). Yunus, who taught economics in the United Stat...

central bank

(Encyclopedia)central bank, financial institution designed to regulate and control the money supply of a nation, with the goal of fostering economic growth without inflation. Although central banking systems have v...

capital, in economics

(Encyclopedia)capital, in economics, the elements of production from which an income is derived, usually defined with the exception of land and labor. As originally used in business, capital denoted interest-bearin...