Abu Yahya's definitions
(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-5mug. (FINANCE) used to refer to an option that has no intrinsic value, given the prevailing spot price. The two obvious examples are the call option and the put option.
*If the strike price of a call option is greater than the current price (or "spot price") of the underlying stock, then there is no point in exercising the option.
*If the strike price of a put option is less than the spot price, then there is no point in exercising the option/
Please note that "having no intrinsic value" IS NOT THE SAME THING as "worthless." An option that is out of the money is not worthless, unless it is about to expire. Assuming there is a lot of time left on the option before it expires, there remains the possibility the spot price of the underlying item could move in a favorable direction, and make the option "in the money."
*If the strike price of a call option is greater than the current price (or "spot price") of the underlying stock, then there is no point in exercising the option.
*If the strike price of a put option is less than the spot price, then there is no point in exercising the option/
Please note that "having no intrinsic value" IS NOT THE SAME THING as "worthless." An option that is out of the money is not worthless, unless it is about to expire. Assuming there is a lot of time left on the option before it expires, there remains the possibility the spot price of the underlying item could move in a favorable direction, and make the option "in the money."
Buying a call option that is out of the money is a long position; buying a put option that is out of the money is a short position.
by Abu Yahya April 15, 2010
Get the out of the moneymug. The ability of an economic system to provide what people what, given their incomes. Given the fact that incomes and resources are both finite, efficiency will be of the utmost importance in determining if people's wants are satisfied by the workings of the economic system.
by abu yahya June 23, 2008
Get the economic efficiencymug. *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 theodicymug. (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 stockmug. (FINANCE) issue of stock by a firm that already has stock in circulation.
Follow-on offerings account for a little over 83% of new finance capital raised on the NYSE. The other 17% was initial public offering (IPO).
Follow-on offerings account for a little over 83% of new finance capital raised on the NYSE. The other 17% was initial public offering (IPO).
Between 1 January and 31 August 2010, 46 companies had made an initial public offering on the NYSE; another 33 had made a follow-on offering. But while the IPO's accounted for $9.5 billion, the FOO's accounted for almost $55 billion.
by Abu Yahya September 29, 2010
Get the follow-on offeringmug. (ECONOMICS) the capital that a business sells in order to make money. The obvious example is the inventory of a convenience store; in this case, the circulating capital is the merchandise, and the fixed capital includes the cash register, the display racks, and so on.
In other cases, the circulating capital consists of raw materials or supplies; for example, a mechanic has transmission fluid or air filters, while a dress maker has muslin and thread.
In other cases, the circulating capital consists of raw materials or supplies; for example, a mechanic has transmission fluid or air filters, while a dress maker has muslin and thread.
An entrepreneur makes money by hanging onto fixed capital as long as possible, and getting rid of circulating capital as fast as possible.
by Abu Yahya May 4, 2010
Get the circulating capitalmug.