abu yahya's definitions
*noun*; from Greek, θεός {god} + δίκαιον (justice). Literally, "the justice of God." Specifically, the attempt to explain God's ways to mortals.
The term was used by Gottfried Leibniz for his book {Théodicée} explaining how an omnipotent and benevolent God could allow suffering in the universe. Leibniz took the approach that this was the "best of all possible worlds," meaning that God could not have made this world better in any one respect, without making it worse in others.
In 1759, Voltaire published the novel *Candide* which was essentially a very long satire of Leibniz' views. The character of Dr. Pangloss is based on Leibniz, although it has been argued that Voltaire misrepresented Leibniz' views.
In common usage, the term *theodicy* refers to any defense of a thing based on the claim that whatever that thing does is the best possible. The obvious example is neoclassical economics, which insists that whatever outcome achieved by "the market," it is the best one that could possibly exist. It's a fallacy because it uses circular reasoning, and it is unfalsifiable.
The term was used by Gottfried Leibniz for his book {Théodicée} explaining how an omnipotent and benevolent God could allow suffering in the universe. Leibniz took the approach that this was the "best of all possible worlds," meaning that God could not have made this world better in any one respect, without making it worse in others.
In 1759, Voltaire published the novel *Candide* which was essentially a very long satire of Leibniz' views. The character of Dr. Pangloss is based on Leibniz, although it has been argued that Voltaire misrepresented Leibniz' views.
In common usage, the term *theodicy* refers to any defense of a thing based on the claim that whatever that thing does is the best possible. The obvious example is neoclassical economics, which insists that whatever outcome achieved by "the market," it is the best one that could possibly exist. It's a fallacy because it uses circular reasoning, and it is unfalsifiable.
Privileged and successful groups need religion for a very different purpose, namely legitimation. Their members are convinced that they deserve their good fortune and that the poor deserve their misfortune. {Max} Weber calls this the "theodicy of good fortune"...
Anthony Waterman in 2002 put forward the suggestion that Smith could be read as offering a kind of Augustinian theodicy of the market. According to him, Smith's idea could be interpreted as thus: just like God put governments in place to restrain sin, the institution of the market also restrains sin.
Nimi Wariboko, *God and Money: A Theology of Money in a Globalizing World* (2008)
Anthony Waterman in 2002 put forward the suggestion that Smith could be read as offering a kind of Augustinian theodicy of the market. According to him, Smith's idea could be interpreted as thus: just like God put governments in place to restrain sin, the institution of the market also restrains sin.
Nimi Wariboko, *God and Money: A Theology of Money in a Globalizing World* (2008)
by Abu Yahya March 23, 2009
Get the theodicy mug.(ECONOMICS) Total unemployed, plus discouraged workers, plus all other persons marginally attached to the labor force, as a percent of the civilian labor force plus all persons marginally attached to the labor force. This includes workers who are not counted as "discouraged workers" for minor technical reasons. Therefore, if one wants to cite the percentage of discouraged unemployed, the true figure is U-5, not U-4.
The US Bureau of Labor Statistics regularly publishes six estimates of unemployment. The others are U-1, U-2, U-3, U-4, and U-6. Eurostat publishes one monthly estimate of unemployment for the European Union, which is approximately midway between U-3 and U-4.
The unemployment statistics for the USA are collected through a monthly Current Population Survey (CPS) (also known as the household survey) and an establishment survey.
The US Bureau of Labor Statistics regularly publishes six estimates of unemployment. The others are U-1, U-2, U-3, U-4, and U-6. Eurostat publishes one monthly estimate of unemployment for the European Union, which is approximately midway between U-3 and U-4.
The unemployment statistics for the USA are collected through a monthly Current Population Survey (CPS) (also known as the household survey) and an establishment survey.
For economists, U-5 and U-6 can help provide some insight into labor market movements. In particular, the spread between U-5 and U-6 can show how quickly businesses are returning to normality after a recession, because it offers a way to gauge changes in the number of hours worked as well as in the number of workers hired.
by Abu Yahya July 15, 2010
Get the U-5 mug.(ACCOUNTING) the total amount of money paid to a company during the period covered by a statement. For example, during a quarterly statement of cash flow, "cash flow" means the firm received payments or realized capital gains of that much money.
During the same period, the firm may have billed out (accounts receivable) a certain amount for which it has not received payment, and received payment on account for bills it made before the quarter began.
This is not the same as operating cash flow, which is revenue minus operating expenses.
During the same period, the firm may have billed out (accounts receivable) a certain amount for which it has not received payment, and received payment on account for bills it made before the quarter began.
This is not the same as operating cash flow, which is revenue minus operating expenses.
Over the course of a few months, the cash flow for a business is about the same as revenue, as payments will generally come in at about the same rate as the firm bills customers.
This NOT true for operating cash flow or net cash flow.
This NOT true for operating cash flow or net cash flow.
by Abu Yahya September 20, 2010
Get the cash flow mug.(FINANCE) a stock whose price movements determine the value of a financial derivative. For example, when a hedge fund manager writes a call option for Citigroup (NYSE:C) at 4.25/share, C is the underlying stock.
"Underlying" can be used to refer to other things besides stocks; for example, commodities, currencies, or bonds.
"Underlying" can be used to refer to other things besides stocks; for example, commodities, currencies, or bonds.
by Abu Yahya April 5, 2010
Get the underlying stock mug.(ECONOMICS) situation in which demand confidence in banks or borrowers is so low that monetary policy (i.e., lowering interest rates) has no positive impact on the economy. A characteristic of an economic depression.
When the economy contracts, or is in a recession, it is occasionally sufficient for the authorities to lower the discount rate or the federal funds rate. This lowers the cost of borrowing money, so more people do so, more stuff is bought, and the economy recovers. But in a depression, people will hoard cash (if they have any); if the interest rate is lowered, they still won't borrow, and the banks won't lend (because they want to restore their balance sheets).
When this happens, only fiscal policy has any chance of restoring economic growth.
When the economy contracts, or is in a recession, it is occasionally sufficient for the authorities to lower the discount rate or the federal funds rate. This lowers the cost of borrowing money, so more people do so, more stuff is bought, and the economy recovers. But in a depression, people will hoard cash (if they have any); if the interest rate is lowered, they still won't borrow, and the banks won't lend (because they want to restore their balance sheets).
When this happens, only fiscal policy has any chance of restoring economic growth.
In the fall of 2008, the failure of so many major banks caused a global liquidity trap. For two quarters, the world economy suffered a very severe contraction, and millions of people lost their jobs.
by Abu Yahya April 18, 2010
Get the liquidity trap mug.(IRANIAN HISTORY) (1882-1967) Democratically elected Prime Minister of Iran from 1951 to 1953. Ousted by coup d'etat organized by MI-6 and the CIA after he nationalized the assets of the Anglo Iranian Oil Company (BP, p.l.c.).
Mossadegh was involved in the 1924 Constitutional Revolution that was supposed to have ended autocracy in Iran and replaced it with a democratic republic. Instead, Reza Khan (Shah Reza) replaced the Qejars as as monarch. Later, Mossadegh rose to power because of rising anger at colonial deal between AOIC and Iran. His nationalization of AOIC triggered a balance of payments crisis for the UK, and two years later he was ousted by Operation Ajax. After he was overthrown, Shah Muhammad Reza was a dictator, and dependent on the USA to remain in power.
Mossadegh was involved in the 1924 Constitutional Revolution that was supposed to have ended autocracy in Iran and replaced it with a democratic republic. Instead, Reza Khan (Shah Reza) replaced the Qejars as as monarch. Later, Mossadegh rose to power because of rising anger at colonial deal between AOIC and Iran. His nationalization of AOIC triggered a balance of payments crisis for the UK, and two years later he was ousted by Operation Ajax. After he was overthrown, Shah Muhammad Reza was a dictator, and dependent on the USA to remain in power.
Muhammad Mossadegh was a true Iranian patriot whose overthrow in a British Petroleum-instigated coup poisoned relations between the USA and the Islamic world.
by Abu Yahya July 19, 2010
Get the Muhammad Mossadegh mug.(FINANCE) a person or entity that lends money to someone else by creating securities and selling them. In commercial milieux, this is investment banking, and the most famous investment bank is Goldman Sachs. Another major investment bank is Morgan Stanley.
Most major countries have a ministry of the treasury, or ministry of finance, that issues bonds for the government and is responsible for selling them to raise money for government borrowing. These are treasury securities.
Most major countries have a ministry of the treasury, or ministry of finance, that issues bonds for the government and is responsible for selling them to raise money for government borrowing. These are treasury securities.
by Abu Yahya May 5, 2010
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