Postindustrial Society in the United States

Postindustrial Society in the International Business Landscape

Definition of Postindustrial Society in the context of U.S. international business and public trade policy: Societies whose people predominantly work in services and where manufacturing provides a minority of jobs and national income.

List of Words and Terms related to Society in General

• abatement
• ability to pay principle
• ability to pay tax
• absolute advantage
• absolute cost advantage
• absorption
• acceleration principle
• ad valorem tax
• adjustable peg
• adjustment assistance
• adjustment policies
• adjustments
• adjustments estimate
• affluenza
• aggregate demand
• aggregate income
• aggregate supply
• aid
• aid packaging
• allocation of resources
• analyst
• apportionment
• appropriation
• Articles of Confederation
• attribution theory
• Austrian School of Economics
• autocracy
• automatic fiscal stabilizers
• balance of indebtedness
• balance of payments (BOP)
• balance of trade (BOT)
• barriers to entry
• base year
• basic good
• basic industry
• beggar thy neighbor policy
• benefit principle
• benefits received rule
• Berlin Wall
• birth rate
• black economy
• black market
• boom
• Borsodi’s law
• boycott
• Bretton Woods system
• business activity
• business climate
• business cycle
• business resources
• buying power
• cap and trade
• capital
• capital account
• capital employed
• capital formation
• capital goods
• capital grant
• capital inflow
• capital intensive
• capital investment
• capital market theories
• capital resource
• capitalism
• cartel
• census
• central bank
• cess
• change equilibrium
• checks and balances
• Chicago school of economics
• civil society
• civilian labor force
• civilian noninstitutional population
• classical economics
• classical unemployment
• Coase’s theorem
• collapse
• commercial sector
• commoditization
• commodity
• common market
• communications
• communist
• comparative advantage
• compensatory finance
• competency convergence
• competition
• competitive
• competitive advantage
• competitive equilibrium
• competitive forces
• competitive position
• competitive product
• competitiveness
• complementary good
• complementary product
• concentrated growth
• concentrated industry
• conservation
• conservatism
• constant returns to scale
• consumer buying behavior
• consumer durables
• consumer goods
• consumer price index (CPI)
• consumer price inflation
• consumer sovereignty
• consumer spending
• consumer surplus
• consumer unit (CU)
• consumerism
• consumption
• consumption expenditure
• consumption function
• consumption rate
• consumption tax
• convexity
• core CPI
• corporate scandal
• cost of living
• cost of living adjustment (COLA)
• cost of living allowance (COLA)
• cost of money
• cost push inflation
• counter cyclical policy
• counter-cyclical
• countervailing power
• Cournot competition
• crash
• creeping inflation
• crop failure
• cross-elasticity of demand
• currency
• currency crisis
• currency restriction
• current account balance (CAB)
• current demand
• current dollar [or any other currency]
• current market selling price
• current purchasing power (CPP)
• customs union
• cutthroat competition
• deadweight loss
• dear money
• death rate
• debt forgiveness
• dedication
• deficiency payment
• deficit financing
• deficit spending
• deflation
• deflator
• demand
• demand analysis
• demand and supply
• demand curve
• demand factor
• demand management
• demand pull inflation
• demand side economics
• democracy
• demographic environment
• demographic factors
• demographic time-bomb
• demographic transition
• demographics
• demography
• DENK
• Department of Labor
• dependent demand
• depreciation
• depression
• deregulation
• derived demand
• devaluation
• developed countries
• developing countries
• development
• development capital
• DEWK
• diffusion of innovation
• diminishing marginal product
• direct competition
• direct investment
• direct tax
• direct write off method
• discount store
• discretionary income
• diseconomies of scale
• dislocated worker
• displaced homemaker
• displaced worker
• disposable income
• distributive justice
• division of labor
• domestic demand
• dominant firm
• double taxation
• double-dip recession
• downtrend
• downturn
• drought
• dual economy
• dumping
• duopoly
• early adopters
• early majority
• eco-efficiency
• ecological sustainability
• ecologically sustainable development
• econometric modeling
• economic analysis
• economic assumptions
• economic base
• economic capital
• economic control
• economic cost
• economic crisis
• economic cycle
• economic development
• economic dynamics
• economic efficiency
• economic environment
• economic equilibrium
• economic equity
• economic forces
• economic freedom
• economic goods
• economic growth
• economic growth rate
• economic impact
• economic income
• economic indicators
• economic inefficiency
• economic infrastructure
• economic integration
• economic interdependence
• economic law
• economic man
• economic multiplier
• economic power
• economic principle
• economic profit
• economic rate of return (ERR)
• economic rent
• economic system
• economic tsunami
• economic utility
• economic valuation
• economically active population
• economically sustainable
• economics
• economics of one unit (EOU)
• economics of scope
• economies of scale
• economies of scope
• economy
• education
• effective competition
• effective demand
• effective exchange rate (EXR)
• effective interest rate
• effective rate
• effective tax rate
• efficient market
• egalitarian
• elastic demand
• elastic supply
• elasticity
• elasticity of demand
• elasticity of substitution
• elasticity of supply
• election
• emancipation
• emerging economies
• emerging markets
• employed
• employed person
• Employer Identification Number (EIN)
• employment
• endorse
• energy
• energy costs
• energy crop
• energy reserves
• energy resource
• energy source
• Engel’s Law
• entitlement
• environmental capital
• environmental equity
• environmental hygiene
• environmental non-governmental organization (ENGO)
• environmental protection
• environmental sanitation
• environmental value
• escalation
• establishment
• ethical standards
• European Commission
• European Parliament
• excess capacity
• excess demand
• exchange
• exchange controls
• exchange rate
• expected monetary value
• expected value (EV)
• experience curve
• exponential growth
• export processing zone (EPZ)
• export quota
• export subsidy
• exports
• external agents
• external economies
• external environment
• external stakeholder
• externalities
• factor cost
• factor income
• factors of production
• fad
• fair competition
• fallacy of composition
• family
• family house
• family life cycle
• fascism
• Federal Government
• federation
• fertility rate
• final good (service)
• financial assistance
• financial contagion
• financial crisis
• first world
• fiscal
• fiscal drag
• fiscal policy
• fiscal year
• Fisher criterion
• Fisher effect
• Fisher equation
• Fisher hypothesis
• five forces
• flea market
• follow up study
• food stamps
• foreign direct investment (FDI)
• foreign exchange (Forex or FX)
• foreign exchange earnings
• foreign exchange rate
• foreign exchange reserves
• foreign investment
• foreign policy
• foreign reserve
• foreign trade zone (FTZ)
• former Soviet Union (FSU)
• fractional reserve system (FRS)
• fragmentation
• fragmented industry
• free
• free enterprise
• free good
• free market
• free market economy
• free port
• free rider
• free trade
• free trade agreement
• Free Trade Agreement of the Americas (FTAA)
• free trade area
• free trade zone (FTZ)
• free zone
• frictional unemployment
• Friendster
• full and open competition
• full employment
• general equilibrium
• general revenue
• generalized system of preferences (GSP)
• Generation Jones
• Generation X
• Generation Y
• generic competition
• generic need
• Giffen good
• Gini index
• global
• global economy
• global interdependence
• global recession
• global risk
• glut
• gold standard
• good
• goods
• government
• government accounting
• governmental
• grant
• Great Depression
• green economics
• gross domestic product (GDP)
• gross national product (GNP)
• group of eight (G-8)
• group of eleven (G-11)
• group of fifteen (G-15)
• group of seven (G-7)
• group of seventy seven (G-77)
• Group of Ten (G-10)
• group of thirty (G-30)
• group of twenty-four (G-24)
• growth industry
• GST tax
• Harry Markowitz
• Henry Paulson
• Herfindahl index
• hidden unemployment
• homogeneous goods
• horizontal integration
• household
• housing bubble
• human capital
• human development index (HDI)
• hyperinflation
• immediate family
• imperfect competition
• import restrictions
• import substitution
• imports
• improvement
• improvements
• in real terms
• income
• income distribution
• income effect
• income elasticity of demand
• income tax
• independent
• indicator
• indices
• indirect competition
• indirect exports
• indirect tax
• induced investment
• industrial base
• industrial goods
• industrial revolution
• industrial sector
• industrialization
• industry
• industry attractiveness
• inelastic demand
• inelastic supply
• infant industry
• infant mortality
• inferior good
• inflation
• inflationary spiral
• informal economy
• informal sector
• information asymmetry
• information economy
• information revolution
• information society
• information-based model
• infrastructure
• input tax
• inputs
• institutional
• interchannel competition
• interest group
• intergenerational equity
• intermediate good
• intermediate product
• internal environment
• internal revenue
• International Accounting Standards (IAS)
• International Accounting Standards Board (IASB)
• International Accounting Standards Committee (IASC)
• International Financial Reporting Standards (IFRS)
• International Monetary Fund (IMF)
• international monetary system
• international non-governmental organization (INGO)
• intertype competition
• intrapreneurship
• intratype competition
• intrinsic value
• intrinsic worth
• investment bank
• investment credit
• investment function
• investment incentives
• invisible hand
• isolationism
• joint demand
• Karl Marx
• keiretsu
• Keynesian economics
• Keynesian unemployment
• kinked demand curve
• knowledge economy
• labor
• labor demand
• labor economics
• labor force
• labor intensive
• labor market
• labor productivity
• labor supply
• lagging indicators
• laissez-faire
• laissez-faire economics
• land
• latent demand
• lateral integration
• Latin America
• law of demand
• law of diminishing marginal utility
• law of diminishing returns
• law of effect
• law of large numbers
• law of markets
• law of one price
• law of proportions
• law of small numbers
• law of statistical regularity
• law of supply and demand
• leading indicators
• learning curve
• legal monopoly
• lender of last resort
• liberalism
• Libertarianism
• life cycle
• lifestyle
• light industry
• ‘Limits-To-Growth’ report
• linear market
• liquidity trap
• lobby
• lobbying
• local government
• local taxes
• Lome convention
• London Club
• low-cost country sourcing (LCCS)
• Machiavellian
• macro marketing
• macroeconomic conditions
• macroeconomics
• Malthusian thesis
• manpower
• manufacturing
• manufacturing sector
• marginal analysis
• marginal benefit
• marginal cost
• marginal external cost
• marginal pricing
• marginal private benefit
• marginal private cost
• marginal product
• marginal product of labor
• marginal productivity
• marginal productivity theory of wages
• marginal profit
• marginal propensity to consume
• marginal revenue
• marginal social benefit
• marginal social cost
• marginal utility
• marginal utility of money
• marginal value product
• market
• market access
• market concentration
• market condition
• market coordination
• market demand
• market density
• market dynamics
• market economy
• market efficiency
• market equilibrium
• market factor
• market failure
• market forces
• market fragmentation
• market index
• market inefficiency
• market mechanisms
• market power
• market profile
• market segment
• market signal
• market structure
• Marxism
• mass market
• mature market
• maturity stage
• mercantilism
• merchandise exports
• MERCOSUR
• merger
• merit goods
• meritocracy
• microeconomics
• middle class
• migration
• minimum wage
• mixed economy
• mobility of capital
• mobility of labor
• Modern Portfolio Theory (MPT)
• modernity
• modernization
• Modiglani-Miller hypothesis
• monetarism
• monetary
• monetary policy
• monetary system
• monetary union
• monetary unit
• money
• money market
• money multiplier
• money supply
• monopolistic competition
• monopoly
• monopoly power
• moral suasion
• morbidity
• mortality
• mortality rate
• most favored nation (MFN)
• multinational corporation (MNC)
• municipality
• nation
• national debt
• national expenditure
• nationalization
• natural monopoly
• natural rate of employment
• natural rate of unemployment
• natural resource
• necessities
• necessity
• neo classical economics
• neutral tax
• new classical economics
• New Deal
• New Federalism
• newly industrializing country (NIC)
• nominal dollar [or any other currency]
• nominal price
• non tariff barrier (NTB)
• non-financial industry
• non-governmental organization (NGO)
• non-price competition
• non-renewable resource
• normal good
• normative economics
• North American Free Trade Agreement (NAFTA)
• North Atlantic Treaty Organization (NATO)
• not in my backyard (NIMBY)
• occupation tax
• official reserve
• oligopolistic competition
• oligopoly
• oligopsony
• open economy
• open market
• open market operations
• operating environment
• Organization for Economic Cooperation and Development (OECD)
• Organization of American States (OAS)
• Organization of Petroleum Exporting Countries (OPEC)
• outlay
• output gap
• output tax
• own price elasticity of demand
• panic
• paradox of thrift
• paradox of value
• parallel economy
• Pareto optimal
• Pareto optimality
• Pareto optimum
• Pareto principle
• partial equilibrium analysis
• paternalism
• pay as you earn (PAYE)
• payment on account
• pecuniary
• peer group
• peg
• per capita income
• perfect competition
• perfect information
• petrodollars
• philanthropy
• Phillips curve
• physical capital
• physiological
• policy
• poll tax
• polygon
• polypoly
• polyspony
• population
• population density
• pork barrel spending
• positive economics
• post industrial society
• post office
• potential market
• potential output
• poverty
• poverty cycle
• poverty line
• poverty trap
• Preferential Trade Agreement (PTA)
• price
• price collusion
• price control
• price determination
• price discovery
• price gouging
• price index
• price mechanism
• price point
• price system
• primary deficit
• primary industry
• primary sector
• private cost
• private enterprise
• private good
• private sector
• privatization
• probable reserves
• producer price index (PPI)
• producer surplus
• product
• product life cycle
• production possibility curve
• progressive tax
• proper resource pricing
• proportional tax
• prosperity
• protectionism
• proxy indicator
• psychological
• public finance
• public good
• public interest group (PIG)
• public ownership
• public sector
• public service
• public spending
• pump priming
• purchasing power
• pure public good
• pure rent
• q ratio
• quality of life
• quasi non-governmental organization (Quango)
• quota sampling
• Ramsey pricing
• rational choice theory (RCT)
• rational expectations
• rationing
• rationing function of price
• real investment
• real return
• real variable
• recession
• reciprocity
• recovery
• redistribution of wealth
• reference group
• referendum
• reflation
• reflationary policy
• reflex effect
• regional
• regressive tax
• regulatory force
• renewable energy
• rent
• reserve accounts
• reserve currency
• reserves
• residential sector
• resource
• resource dependence
• retail price index (RPI)
• retail sales
• sanction
• saturated market
• savings
• scarcity
• school of thought
• search engine marketing (SEM)
• seasonal unemployment
• second world
• secondary industry
• secondary needs
• sector
• secular trend
• service industry
• services
• shadow economy
• shakeout
• short supply
• shortage
• sin tax
• skimming
• slump
• small and medium enterprise (SME)
• small business
• social accountability
• social audit
• social capital
• social class
• social contract
• Social Darwinism
• social good
• social impact
• social insurance
• social safety net
• Social Security Number (SSN)
• social security system
• social services
• social structure
• social value
• social welfare
• socioeconomic
• sovereign debt
• special drawing rights (SDR)
• specialization
• specialization of labor
• stabilization policy
• stagflation
• standard of living
• staple food
• staple goods (staples)
• state
• state trading company
• statistical inference
• statistical sample
• stipend
• stock market crash
• stop go policy
• stratification
• structural adjustment
• structural alteration
• structural analysis
• structural change
• structural inflation
• structural transformation
• structural unemployment
• structure
• structured
• subscription
• subsidy
• substitutability
• substitute goods
• substitution effect
• suburb
• subvention
• sunrise industry
• sunset industry
• superior good
• supply
• supply and demand
• supply curve
• supply shock
• supply side economics
• suppressed inflation
• surplus
• surplus value
• surtax
• survival of the fittest
• survivor principle
• sustainability
• sustainable competitive advantage
• sustainable development
• sustainable growth model
• sustainable growth rate
• tax
• tax abatement
• tax base
• tax based incomes policy
• tax break
• tax code
• tax expenditure
• tax holiday
• tax incentive
• taxation
• taxation principles
• Taxpayer Identification Number (TIN)
• technical advance
• technical efficiency
• technological externalities
• technology infrastructure
• terms of sale
• terms of trade
• tertiary sector
• The Wealth of Nations
• theory of rational expectations (TRE)
• theory of the firm
• theory of the first best
• theory of the second best
• Third World
• tight monetary policy
• time preference
• time utility
• Tobin’s ‘q’ theory
• topographic map
• topography
• total output
• trade barrier
• trade cycle
• trade deficit
• trade liberalization
• trade regime
• transaction cost
• transaction price
• transaction tax
• transactions motive
• transfer cost
• transfer earnings
• transfer payment
• transfer price
• transformation curve
• transitional economy
• trickle down theory
• triple bottom line
• turnaround
• uber-wealthy
• unconstrained demand
• underclass
• unemployed
• unemployment
• unemployment rate
• unfair competition
• Union of Soviet Socialist Republics (USSR)
• unitary elasticity
• United Nations
• unsought good
• upper class
• upstream industries
• urban renewal
• use value
• user cost
• utility
• utility maximization
• utility theory
• value
• value added
• value added tax (VAT)
• value for money (VFM)
• value of marginal product (VMP)
• Veblen effect
• vertical integration
• vie
• volatility
• W. Edwards Deming
• wage and price controls
• wage compression
• wage expansion
• wage freeze
• wage push inflation
• wage-price cycle
• wage-price spiral
• Walt Disney
• want
• wealth
• wealth effect
• welfare
• welfare economics
• welfare state
• workforce
• working class
• World Bank
• World Trade Organization (WTO)