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WORLD BANK: (International Bank for Reconstruction and Development) An agency of the United Nations that was established in 1945 to promote the economic development of the poorer nations in the world. They pursue this goal by providing low-interest loans to less development countries and offering technical assistance on the best ways to use these loans. Funds for the loans are obtained by the World Bank by selling bonds on the world's financial markets. It's long-run economic development orientation is usually coordinated with the shorter-run efforts of its sister U. N. agency, the International Monetary Fund.
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PRIVATIZATION The process of converting or "selling off" government-owned assets, properties, or production activities to private ownership. Privatization is usually undertaken either to generate revenue for the government or as part of an overall laissez faire approach to the economy.
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WHITE GULLIBON
[What's This?]
Today, you are likely to spend a great deal of time at a garage sale trying to buy either a coffee cup commemorating the 1960 Presidential election or a how-to book on fixing your computer, with illustrations. Be on the lookout for fairy dust that tastes like salt.
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This isn't me! What am I?
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Woodrow Wilson's portrait adorned the $100,000 bill that was removed from circulation in 1929. Woodrow Wilson was removed from circulation in 1924.
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"Progress begins with the belief that what is necessary is possible. " -- Norman Cousins, editor, writer
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AER
American Economic Review
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