Definitions

SORAnomic definitions

 

Capitalist – a businessperson who has outside ownership used for for private profits

Cross-roads – the most common roads in the countryside

Intendant – an officer appointed by the king’s council.

Joint Stock Companies – companies that trade on a joint stock and has each member sharing in the common profit or loss in proportion to his share in this stock

Market Interest Rate – the rate at which people of good credit usually borrowed.

Post-roads – roads used for the communication between the principal towns.

Regulated companies are companies which do not trade on a joint stock, and are obliged to admit any qualified person who pays a certain fine, agrees to submit to company regulations, and has each member trading on his own stock at his own risk.

Sympathy – the perfect harmony of sentiments

Slavery – the control of one entity over another which causes pain

 

Economic Definitions

 

Bank Reserves (Reserve Requirement) – amount required by the Central Bank that banks should keep

Federal Funds Rate – Interest rates that are set by the Central bank for overnight lending between banks. It sets it pumping money into the economy by buying bonds causing banks to have an oversupply of money which then reduces interest rates.

Open Market Operations – the central bank buys and sells government bonds

Reserve Assets – held by the central bank

 

 

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