Pension Fund:
A financial institution that invests the pension contributions of workers, and pays the workers upon their retirement.
Populism:
Politics or political ideology based on the perceived interests of ordinary people, as opposed to those of a privileged elite. Focus or emphasis on the lives of ordinary people, for example, in the arts and in politics.
Encarta® World English Dictionary (North American Edition) © & (P) 2001 Microsoft Corporation. All rights reserved.
Price Controls:
Government regulations setting the maximum price to be charged for goods or services.
Encarta® World English Dictionary (North American Edition) © & (P) 2001 Microsoft Corporation. All rights reserved.
Privatization:
Conversion of businesses from government ownership to private property. This can involve the denationalization of industry as well as allowing the private sector to provide what had been considered government services.
Encarta® World English Dictionary (North American Edition) © & (P) 2001 Microsoft Corporation. All rights reserved.
Property Rights:
A bundle of rights associated with ownership of a resource. Property rights include the right to use a resource and exclude other from its use, to gain from or control its use by others, and dispose of it. Property rights are defined by the state.
D.N. Balaam and M. Veseth, Introduction to International Political Economy, 2nd ed., New Jersey, 2001.
Protectionism:
The theory of or belief in the advantages of restricting trade so as to encourage or benefit domestic producers.
D.N. Balaam and M. Veseth, Introduction to International Political Economy, 2nd ed., New Jersey, 2001.