Glossary for John Law article

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FINANCIER: a person who makes a living trading financial assets.

LAND GRANTS: grants of land by a government to individuals or businesses in exchange for money or promises to develop the land.

TRADE: exchange of commodities or services between nations.

BANK NOTE: paper money issued by a bank that could be redeemed for gold or silver.

SHARES: claims to ownership and therefore the earnings of a company.

MONOPOLY: a single supplier of a business or service, usually created by governmental regulations that prevent competition.

CAPITAL GAINS: the increase in the value of an asset.

INFLATION: a systematic increase in all prices measured in a nation’s money.

DEVALUE: a reduction in the official or government controlled price of an asset.

BUBBLE: a sudden rise in the value of an asset, followed by an rapid collapse in the price.

NASDAQ: a stock market in New York City in which shares of stock in new, smaller businesses are traded.