What is Heterodox Economics? Heterodox economics refers to economic theories that diverge from mainstream or neoclassical principles. While most economists accept mainstream economic theories, they tend to rely on neoclassical theories of market equilibriums and rationality. In contrast, heterodox economics includes more fringe ideologies that go against fundamental neoclassical beliefs. Due to the diverse nature…
What is the Iraqi Dinar (IQD)? The Iraqi dinar refers to Iraq’s national currency and is represented by ISO code IQD. Iraq’s Central Bank issues the Iraqi dinar, which earlier consisted of 1000 fils. However, fils are no longer used because inflation has rendered them obsolete, and now dinars have become the smallest currency unit…
What is the Mexican Peso (MXN)? The Mexican Peso is the national currency of Mexico and is abbreviated as MXN. It originated from the Spanish dollar between the 15th and 19th centuries. While in the Americas, MXN is the third most exchanged currency after the US dollar and the Canadian dollar, it is the main…
What is the Hersey-Blanchard Model? The Hersey-Blanchard Model is a leadership model that focuses on the ability and willingness of individual employees. Developed by Paul Hersey and Kenneth Blanchard, the model is also referred to as the Situational Leadership Model. Unlike other leadership models, the Hersey-Blanchard model disregards the idea that corporations require a single…
What is the Heritage and Stabilization Fund (HSF)? Heritage and Stabilization Fund (HSF) is a sovereign wealth fund established by the Republic of Trinidad and Tobago. Founded in 2007, HSF was established to reinvest excess capital resulting from exports of natural gas. Like other sovereign wealth funds, Trinidad and Tobago’s HSF is owned by the…
What is the Pound Sterling (GBP)? The Pound Sterling refers to the national currency of the Isle of Man, the United Kingdom, South Sandwich Islands, Gibraltar, South Georgia, and the British Antarctic Territory. It is the oldest currency to be in constant use. It is also known as the sterling or pound and abbreviated as…
What was the Silk Route? The Silk Route (or Silk Road) was a trade route that originated in the second century B.C. and lasted until the 14th century A.D. It extended from Asia to the Mediterranean, going through China, Persia, India, Greece, Italy, and Arabia. The route was called the Silk Route because extensive silk…
What is the Canadian Dollar (CAD)? The Canadian Dollar refers to Canada’s domestic currency and is abbreviated as CAD. A Canadian dollar consists of 100 cents and is also described as C$ to differentiate it from other dollar-denominated national currencies, such as the US dollar. The Canadian dollar is considered a benchmark currency, implying that…
What is a Signature Loan? A signature loan – or good faith loan – is a form of personal loan offered by financial institutions, like banks, that do not require collateral and only a borrower’s signature. The borrower chooses the purpose of the loan, and the interest rates can be higher due to the absence…
