I love learning about words. They are so interesting; how they are used, where they come from. I’ve tried to collect new ones that I like.
Allegiances. When political economist Carlos Eduardo Suprinyka talks about pluralism he describes groups as being delineated by allegiances instead of interests. Instead of sharing a common interest in a family, community, workplace, or church- people have loyalty or commitment of a subordinate to a superior.
Price Discovery. The distinction of coming at price from a process rather than a calculation never really occured to me. Price discovery is very prominent in real estate. Most buyers and sellers dip their toes into a market several times before coming to terms with another party.
Foreign Direct Investment (FDI). This term describes a foreign entity owning a company on foreign soil. It implies a distinction and assumed benefit of purchasing the complete structure with local labor. Otherwise they would simply be a portfolio investor.
Natural Capital. The world’s stock of natural resources, which includes geology, soils, air, water, and all living organisms. It’s a much better word than ecosystem.
Underpin. Whenever I read this word a warning goes off that the author doesn’t know how the two issues interact- so the relationship is delegated to an ‘underpinning.’
Theoretical Construct. A descriptive word describing the space in which the abstraction exists. (Or that’s what I think it is.)
Mental Model. Is an explanation of someone’s thought process about how something works in the real world. It is a representation of the surrounding world, the relationships between its various parts and a person’s intuitive perception about their own acts and their consequences. Mental models can help shape behaviour and set an approach to solving problems.