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LOAN LOSS RESERVES: A special account set aside by banks acting as a buffer between deposits and net worth that's used in case a loan is not repaid. Without this reserve, an unpaid loan on the asset side of a bank's balance sheet would require an adjustment of deposits or net worth on the liability side. The loan loss reserve is used for this adjustment.
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EQUALITY STANDARD An income distribution standard in which income is divided equally among members of society. This is one of three basic income distribution standards that answers the For Whom? question of allocation. The other two are the contributive standard and the needs standard.
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Lewis Carroll, the author of Alice in Wonderland, was the pseudonym of Charles Dodgson, an accomplished mathematician and economist.
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"To succeed you need to find something to hold on to, something to motivate you, something to inspire you." -- Tony Dorsett, Football player
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SSRN
Social Science Research Network
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