Economics & Economic Systems, LUK-MON
Economic system, any of the ways in which humankind has arranged for its material provisioning. One would think that there would be a great variety of such systems, corresponding to the many cultural arrangements that have characterized human society.
Economics & Economic Systems Encyclopedia Articles By Title
Lukashenko, Alexander
Alexander Lukashenko is a Belarusian politician who espoused communist principles and who became president of the......
Luther, Hans
Hans Luther was a German statesman who was twice chancellor (1925, 1926) of the Weimar Republic and who helped......
Luxemburg, Rosa
Rosa Luxemburg was a Polish-born German revolutionary and agitator who played a key role in the founding of the......
luxury
luxury, word that implies a relatively large consumption of wealth for nonessential pleasures. There is, however,......
luxury tax
luxury tax, excise levy on goods or services considered to be luxuries rather than necessities. Modern examples......
López Portillo, José
José López Portillo was a Mexican lawyer, economist, and writer, who was president of Mexico from 1976 to 1982.......
macroeconomics
macroeconomics, study of the behaviour of a national or regional economy as a whole. It is concerned with understanding......
mahalwari system
mahalwari system, one of the three main revenue systems of land tenure in British India, the other two being the......
mail-order business
mail-order business, method of merchandising in which the seller’s offer is made through mass mailing of a circular......
Malayan People’s Anti-Japanese Army
Malayan People’s Anti-Japanese Army (MPAJA), guerrilla movement formed originally to oppose the Japanese occupation......
Malenkov, Georgy Maksimilianovich
Georgy Maksimilianovich Malenkov was a prominent Soviet statesman and Communist Party official, a close collaborator......
Malthus, Thomas
Thomas Malthus was an English economist and demographer who is best known for his theory that population growth......
Malthusianism
Malthusianism, economic theory advanced by the English economist and demographer Thomas Malthus (1766–1834), according......
managerial economics
managerial economics, application of economic principles to decision-making in business firms or of other management......
Manchester school
Manchester school, Political and economic school of thought led by Richard Cobden and John Bright that originated......
Manley, Michael
Michael Manley was a Jamaican politician who served three terms as prime minister of Jamaica (1972–80 and 1989–92)......
Mann, Tom
Tom Mann was a radical labour leader, founder and member of numerous British labour unions and organizations. Mann......
manorialism
manorialism, political, economic, and social system by which the peasants of medieval Europe were rendered dependent......
Mao Zedong
Mao Zedong was the principal Chinese Marxist theorist, soldier, and statesman who led his country’s communist revolution.......
Marchand, Jean
Jean Marchand was a Canadian politician, president of the Confederation of National Trade Unions (1961–65), and......
margin
margin, in finance, the amount by which the value of collateral provided as security for a loan exceeds the amount......
marginal efficiency of investment
marginal efficiency of investment, in economics, expected rates of return on investment as additional units of......
marginal productivity theory
Marginal productivity theory is the idea that a company would be willing to pay a worker only what they can contribute......
marginal utility
marginal utility, in economics, the additional satisfaction or benefit (utility) that a consumer derives from buying......
marginal-cost pricing
marginal-cost pricing, in economics, the practice of setting the price of a product to equal the extra cost of......
marine insurance
marine insurance, contract whereby, for a consideration stipulated to be paid by one interested in a ship or cargo......
mark
mark, former monetary unit of Germany. The early history of the term can be traced back at least to the 11th century,......
market
market, a means by which the exchange of goods and services takes place as a result of buyers and sellers being......
market failure
market failure, failure of a market to deliver an optimal result. In particular, the economic theory of market......
market research
market research, study of the requirements of various markets, the acceptability of products, and methods of developing......
Market share
Market share is the percentage of total sales in a particular market that is supplied by a single company. It’s......
market socialism
market socialism, economic system representing a compromise between socialist planning and free enterprise, in......
marketing
marketing, the sum of activities involved in directing the flow of goods and services from producers to consumers.......
- Introduction
- Promotion, Distribution, Research
- Research, Strategies, & Tactics
- Pricing, Strategies, Tactics
- Sales Promotion, Advertising, Branding
- Consumers, Producers, Intermediaries
- Consumer Buying, Decision Making, Research
- Intermediaries, Distribution, Channel
- Brokers, Agents, Distribution
- Department Stores, Retail, Shopping
- Direct Selling, Consumer Engagement, Relationship Building
- Market Research, Consumer Insights, Surveys
- Services, Strategies, Tactics
- Consumer Behavior, Advertising, Promotion
marketing board
marketing board, organization set up by a government to regulate the buying and selling of a certain commodity......
marketization
marketization, introduction of competition into the public sector in areas previously governed through direct public......
Marković, Svetozar
Svetozar Marković was a political writer who was largely responsible for introducing socialism into Serbia and......
Markowitz, Harry
Harry Markowitz was an American finance and economics educator, cowinner (with Merton H. Miller and William F.......
Marot, Helen
Helen Marot was an American writer, librarian, and labor organizer, best remembered for her efforts to address......
Marshall, Alfred
Alfred Marshall was one of the chief founders of the school of English neoclassical economists and the first principal......
Marx, Karl
Karl Marx was a revolutionary, sociologist, historian, and economist. He published (with Friedrich Engels) Manifest......
Maskin, Eric S.
Eric S. Maskin is an American economist who, with Leonid Hurwicz and Roger B. Myerson, received a share of the......
Masses, The
The Masses, American monthly journal of arts and politics, socialist in its outlook. It was known for its innovative......
matrix organization
matrix organization, a system characterized by a form of management with multiple chains of command. Unlike a traditional......
maturity
Maturity, also called the maturity date, is the date on which a debt instrument is agreed to be repaid. In the......
McAdoo, William G.
William G. McAdoo was the U.S. secretary of the treasury (1913–18), a founder and chairman (1914) of the Federal......
McCarthy, Joseph
Joseph McCarthy was an American politician who served in the U.S. Senate (1947–57), representing Wisconsin, and......
McCarthyism
McCarthyism, name given to the period of time in American history that saw U.S. Sen. Joseph McCarthy of Wisconsin......
McCulloch, Hugh
Hugh McCulloch was an American financier, comptroller of the currency, and secretary of the Treasury. Having taught......
McCulloch, John R.
John R. McCulloch was a Scottish-born economist and statistician whose work as a publicist did much to assure general......
McFadden, Daniel L.
Daniel L. McFadden is an American economist and cowinner (with James J. Heckman) of the 2000 Nobel Prize in Economic......
Meade, James Edward
James Edward Meade was a British economist whose work on international economic policy procured him (with Bertil......
Meany, George
George Meany was a U.S. labour leader, president of the American Federation of Labor–Congress of Industrial Organizations......
medal
medal, piece of metal struck with a design to commemorate a person, place, or event. Medals can be of various sizes......
Mehring, Franz
Franz Mehring was a radical journalist, historian of the Social Democratic Party of Germany, and biographer of......
Memphis sanitation workers’ strike
Memphis sanitation workers’ strike, 64-day labor conflict in the winter and spring of 1968 that brought Martin......
Mendes, Chico
Chico Mendes was a Brazilian labour leader and conservationist who defended the interests of the seringueiros,......
Menger, Carl
Carl Menger was an Austrian economist who contributed to the development of the marginal utility theory and to......
mentoring
mentoring, professional relationship between two individuals, usually a senior and a junior employee in an organization,......
Menzies, Sir Robert
Sir Robert Menzies was a statesman who, as prime minister of Australia (1939–41, 1949–66), strengthened military......
mercantile agency
mercantile agency, specialized organization engaged in supplying information on the creditworthiness and financial......
mercantilism
mercantilism, economic theory and practice common in Europe from the 16th to the 18th century that promoted governmental......
merchant guild
merchant guild, a European medieval association composed of traders interested in international commerce. The privileged......
Mercosur
Mercosur, South American regional economic organization. Mercosur grew out of earlier efforts to integrate the......
Merger
Merger, corporate combination of two or more independent business corporations into a single enterprise, usually......
merit good
In economics, a merit good is a commodity whose consumption provides benefits to individual consumers and generates......
meritocracy
meritocracy, political, social, or economic system in which individuals are assigned to positions of power, influence,......
Merton, Robert C.
Robert C. Merton is an American economist known for his work on finance theory and risk management and especially......
mesoregionalism
mesoregionalism, process of cooperation and integration in the development of intermediary regions, or “regions......
microcredit
microcredit, a means of extending credit, usually in the form of small loans with no collateral, to nontraditional......
microeconomics
microeconomics, branch of economics that studies the behaviour of individual consumers and firms. Unlike macroeconomics,......
Middle Passage
Middle Passage, the forced voyage of enslaved Africans across the Atlantic Ocean to the New World. It was one leg......
migrant labour
migrant labour, casual and unskilled workers who move about systematically from one region to another offering......
Mikoyan, Anastas Ivanovich
Anastas Ivanovich Mikoyan was an Old Bolshevik and highly influential Soviet statesman who dominated the supervision......
Milei, Javier
Javier Milei is a confrontational right-wing outsider who rose to the presidency of Argentina in 2023 on a tide......
Milgrom, Paul
Paul Milgrom is an American economist who, with Robert Wilson, was awarded the 2020 Nobel Prize for Economics (the......
Mill, James
James Mill was a Scottish philosopher, historian, and economist. He was prominent as a representative of philosophical......
Miller, Marvin
Marvin Miller was an American union leader who, as head of the Major League Baseball (MLB) Players Association,......
Miller, Merton H.
Merton H. Miller was an American economist who, with Harry M. Markowitz and William F. Sharpe, won the Nobel Prize......
Milošević, Slobodan
Slobodan Milošević was a politician and administrator, who, as Serbia’s party leader and president (1989–97), pursued......
Mindszenty, József
József Mindszenty was a Roman Catholic clergyman who personified uncompromising opposition to fascism and communism......
minimum wage
Minimum wage laws and collective bargaining agreements establish the lowest hourly pay workers can receive, setting......
mint
mint, in economics, a place where coins are made according to exact compositions, weights, dimensions, and tolerances,......
Mirabeau, Victor Riqueti, marquis de
Victor Riqueti, marquis de Mirabeau was a French political economist, the forerunner and later patron of the Physiocratic......
Mirrlees, James
James Mirrlees was a Scottish economist known for his analytic research on economic incentives in situations involving......
mise
mise, in medieval England, any outlay of money and in particular the payment of taxation. The mise rolls (rotuli......
Mises, Ludwig von
Ludwig von Mises was an Austrian-American libertarian economist known for his contribution to liberalism in economic......
Mitchell, John Thomas Whitehead
John Thomas Whitehead Mitchell was a dominant figure in the 19th-century English consumers’ cooperative movement.......
Mitchell, Wesley C.
Wesley C. Mitchell was an American economist, the world’s foremost authority of his day on business cycles. Mitchell......
Miura Baien
Miura Baien was a Japanese economist and Confucianist philosopher during the Tokugawa period (1603–1867). He formulated......
mixed economy
mixed economy, in economics, a market system of resource allocation, commerce, and trade in which free markets......
Moczar, Mieczysław
Mieczysław Moczar was a Polish Communist leader and organizer. As a leader of the underground resistance during......
Modigliani, Franco
Franco Modigliani was an Italian-born American economist and educator who received the Nobel Prize for Economics......
Mogae, Festus
Festus Mogae was an economist and politician who served as president of Botswana (1998–2008). Mogae was a member......
Mohammad Reza Shah Pahlavi
Mohammad Reza Shah Pahlavi was the shah of Iran from 1941 to 1979, when he fled the Iranian Revolution and his......
Mokyr, Joel
Joel Mokyr (born July 26, 1946, Leiden, the Netherlands) is an American-Israeli economic historian and winner,......
Molly Maguires
Molly Maguires, secret organization of coal miners supposedly responsible for acts of terrorism in the coalfields......
monetarism
monetarism, school of economic thought that maintains that the money supply (the total amount of money in an economy,......
monetary policy
monetary policy, measures employed by governments to influence economic activity, specifically by manipulating......
monetary union
monetary union, agreement between two or more states creating a single currency area. A monetary union involves......