192 definitions by Abu Yahya

exceptionally prone to seeing the scurrilous, sexy, or kinky aspect of everything; obsessed with sex; prone to seeing sexual overtones to nonsexual behavior.

A dirty minded person may be hypocritical and unctuous, but read filthy motives into the acts of other people. For example, in the movie "American Beauty," the military officer wrongly assumes that his son's interactions with his neighbor are homosexual, rather than commercial--projecting his own repressed sexuality onto others (with deadly results).
The dirty minded obscene person does not shamelessly exult in his bawdy language, nor does he use it without self-consciousness... The dirty minded person has only partially internalized the taboos that he violates...

Joel Feinberg, _Offense to Others_, p.267
by Abu Yahya February 22, 2010
to introduce a thing as currency, e.g., silver, gold, copper. In nearly all cases, when something has been monetized, it is legal tender and debtors are legally obligated to accept it as payment for debt.

Debt can also be monetized. A government can either buy the debt of companies whose growth it favors as a matter of policy (as in pre-War Japan) or permit its own bonds to be be used as banking reserves (for the creation of money).
In 1878 Congress passed the Bland Bill, which monetized silver at a ratio of 16:1 to gold.
by Abu Yahya January 23, 2009
The idea that, if you mitigate the consequences of a particular type of accident, then that type of accident will necessarily occur much more frequently, more than negating the initial benefit.

The CF assumes that human nature is perverse and seeks to equalize consequences. Hence, improved automotive technologies such as air bags, ABS, space frames, etc. will be offset (or more than offset) by careless driving, leading to increased highway fatalities.

FALSIFICATION: Empirical evidence shows that, while reducing consequences increases risky behavior, overall safety/health outcomes are better. Insurance companies with a stake in reducing claims verify this.

More generally, the CF confuses all forms of risk-taking, such as faster highway speeds, with fecklessness. Increased speed and convenience (for motorists) has utility; and there is no principle in welfare economics that says risk-taking will increase by an amount sufficient to offset the safety measures.
The massively overrated book *Freakanomics* (Dubner & Leavitt) includes many examples of the curmudgeon's fallacy.
by Abu Yahya August 22, 2008
(POLICY) an extreme form of capitalism created in the immediate aftermath of a disaster. In some cases, as in Chile (1973), the disaster is a coup d'etat with the express purpose of imposing disaster capitalism. In other cases, such as the 2004 Indian Ocean tsunami, it is a genuine natural disaster that literally kills.

After some disasters, the authorities in some countries may well respond by imposing "reforms" that would have been impossible before. These include: (1) privatization of public property, making it unavailable to the indigenous people; (2) arbitrary elimination of laws ("deregulation"); and (3) slashing democratically chosen programs that help ordinary citizens ("austerity programs").

The concept was popularized in Naomi Klein's excellent 2007 book, *The Shock Doctrine*.
"Disaster capitalism" is neoliberalism imposed undemocratically. It exploits natural disasters, civil wars, foreign invasions, coups d'etat, terrorism, or explicit deception. It always seeks to make its changes irreversible.

Naomi Klein mostly blames the International Monetary Fund, but there are other culprits as well.
by Abu Yahya July 10, 2010
(ECONOMICS) international bank created after World War 2 to coordinate currency stabilization. Main policy tool consists of lending money to central bank of countries facing a liquidity crisis.

In some cases, as when a member government is insolvent, the IMF will impose a structural adjustment program (SAP) requiring the government to jettison programs it has to serve the poor. For this reason, the IMF is often harshly criticized.
It is often said that the International Monetary Fund makes economic crises worse by imposing the same austerity program everywhere, thereby further reducing a member state's ability to pay its sovereign debt.

(Another way of putting this is that the IMF's policies are pro-cyclical]
by Abu Yahya May 05, 2010
(FINANCE) Used either as a noun: a situation in which a trader controls the supply of a traded item, such as shares of stock, supplies of a commodity, etc.

Or else, used as a verb: to obtain control over the supply of a thing, so that one can drive the price up to extremely high levels.

Cornering the market for anything (or getting a corner) is extremely difficult and requires not only immense amounts of money (usually borrowed for the purpose), but also timing and the ability to bluff opponents.

A corner is ultimately a long position in the sense that it is a direct attack on investors taking a short position.
The corner must be timed very precisely, because it cannot last for more than a very short time. Even when the the price of the thing (like, say, silver) goes up to very, very high levels, more supplies cannot come onto the market or the corner will be lost.

At the same time, there has to be a target of the corner--some group of people who have to buy the cornered item no matter how high the price goes (otherwise, the quantity demanded will just go to zero). For this reason, corners are nearly always part of an attempt to squeeze the shorts.
by Abu Yahya April 05, 2010
*noun*; the tendency for the public to want to hold income in cash relative to its willingness to hold it as interest-bearing savings (bonds).

The liquidity preference is analogous to a supply curve for lendable funds. If the price for lendable funds--that is to say, the interest rate--is high, then the amount be be large. If the interest rate is low, then the public will be more inclined to hoard income as cash.

Income held as cash is not spent on goods and services, so if the amount increases abruptly then there will be a recession. If it is held in some interest-bearing form, then it can be spent on fixed capital, thereby increasing output and employment.

During a recession, if the liquidity preference is high, a lot of money is going to be held as cash. One could free up some cash for job-creating investment by raising interest rates, but that would eradicate a lot of business opportunities. So monetary authorities monetize debt instead, creating a new supply of credit to replace the savings lost by falling interest rates.
...An individual’s liquidity preference is given by a schedule of the amounts of his resources, valued in terms of money or of wage-units, which he will wish to retain in the form of money....

John M. Keynes, *General Theory of Employment, Interest, and Money* (1936), Ch.13
by Abu Yahya March 03, 2009
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