Words4Nerds #7
2002-10-03
Last week's words were as follows:
- autarky -- economic self-sufficiency, usually as applied to nations (not to be confused with autarchy = absolute power)
- praxeology -- the study of human action
- syndicalism -- worker ownership of the means of production, especially through the mediation of trade unions
- fungible -- the quality of being replaceable by like goods (e.g., bushels of wheat are fungible, since one is as good as another)
- monopsony -- the situation in which there is only one buyer for a good or service
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