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A-Z A Glossary of Associative Economics
Christopher Houghton Budd and Arthur Edwards
ISBN: 978 0 948229 43 5
Rather than create a dictionary of associative economics, the aim of this glossary is not to introduce terms or specific meanings into economics that generally available dictionaries, because of their paradigmatic assumptions, do not use. Many terms, such as ‘advances’ (meaning loans), ‘annuity’ or ‘arbitrage’ have technical meanings that are unlikely to be affected by a shift to associative thinking. Not so, however, for such terms as ‘accelerator coefficient’ or ‘automatic stabilizers’, which express a mechanistic view of the economy. Written aphoristically for the most part, the glossary heeds the dictum of the Canadian economist, J.K. Galbraith, namely, ‘…there are no important propositions that cannot be stated in plain language.’ (Annals of an Abiding Liberal, 1979) While the aphoristic style befits mini thought pieces, in places their sense may not be complete or wholly self-evident. Such moments should be treated by the reader as invitations to meditate and supply what is missing!