Definitions

SORAnomic definitions

 

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

Outside ownership – you owning something that you don’t actually use, lead, or work in

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 – 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

Rent – regular arbitrary revenue. An example is taxation.

Wages – regular revenue required for living as to create savings. A slave might get revenue but it often is not enough for living.

Profits – irregular Revenue from the ‘Lack’ Experienced By Other People

Donations – irregular Revenue from the ‘Abundance’ Experienced By Other People

 

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. The central bank keeps 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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