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Dictionary Corner!
3rd July 2008
The Oxford English Dictionary has released the latest set of new words for June 2008 and the turbulence in global financial markets has made an impact! Business is also well represented in our ever-changing lexicon.
bootstrap - start up (an Internet-based business or other enterprise) with minimal financial resources
crunch - severe shortage of money or credit: the beleaguered company has become the latest victim of the credit crunch.
Neet - young person who not in education, employment, or training.
Non dom - person who lives in a country but is not legally domiciled in it, thereby sometimes obtaining tax advantages in the country concerned
Pump and dump - fraudulent practice of encouraging investors to buy shares in a company in order to inflate the price artificially, and then selling one’s own shares while the price is high.
Sub-prime - credit or loan arrangements for borrowers with a poor credit history, typically having unfavourable conditions such as high interest rates
Geoff Riley
Geoff Riley FRSA has been teaching Economics for over thirty years. He has over twenty years experience as Head of Economics at leading schools. He writes extensively and is a contributor and presenter on CPD conferences in the UK and overseas.