onomi on epts and erminolo ies 22.23
Gini coefficient indicates a situation of perfect out of capital appreciation–adopt risky strategies
equality (i.e., every household earning the same for the purpose (investing in volatile unproven
level of income) while a ‘one’ signifies a situation and small shares, etc.), also called the performance
of absolute inequality (i.e., a single household funds.
earning the entire income in an economy).
greAter fool theory
A theory evolved by the technical analysts of
A payment (usually generous) made by a company stocks/shares according to which some even buy
to its employees for quitting the job prior to their overvalued stocks with the conviction that they
service. will find a greater fool who will buy them at higher
prices. This is also popular as castle-in-the-air
golDen hAnDcuff theory.
A royalty/bonus payment by a company to its
staff (usually top ranking) to keep them with the
company or to save them from poaching by the An investment by a firm in a new manufacturing
other companies. plant, workshop, office, etc.
golDen hello greenfielD locAtion
A large sum paid by a company to attract a new An area consisting of unused or agricultural land
staff to its fold. (i.e., ‘greenfield’) developed to set up new industrial
green revolution & institutions
A fiscal policy stance which suggests that over
the economic cycle, government should borrow The support of institutions and the governments
only to ‘invest’ and not to finance the ‘current of the world did play a very vital role in the success
expenditure’. The attempts towards ‘balanced of the Green Revolution all over the world.
budgeting’, ‘zero-based budgeting’ developed The International Maize and wheat
under influence of this rule. Improvement Centre (CIMMYT), Mexico and
the International Rice Research Institute (IRRI),
gooDhArt’s lAw Manila were the two institutions in strong
partnership with national programmes which
The idea of goodhart which suggests that attempts
developed the miracle varieties of rice and wheat
by a central bank (as RBI in India) to regulate the
that fuelled the green Revolution around the
level of lending by banks imposing certain controls
can be circumvented by the banks searching the
alternatives out of the regulatory preview. The Consultative Group on International
Agricultural Research (CGIAR), set up in 1971
(in Washington DC under the aegis of the World
Bank) played a central role in Green Revolution,
The highly speculative mutual funds operating in supporting the works of the CIMMYT and IRRI.
the USA with the objective of earning high profits Today, the 16 CGIAR support centres around