Economic Term of the Day

Karl Marx

Commodity fetishism: Marx made this one up, it refers to when a commodity (anything bought or sold, including labor) has any kind of social value surrounding it that elevates its market value over what it practically should be. From wikipedia: An example is that a pearl or a lump of gold is worth more than a horseshoe or a corkscrew.

A horseshoe or corkscrew are infinitely more practically valuable, but human beings like pretty things.

FUNNY FINANCIAL TERM OF THE DAY: "Dead Cat Bounce"

• found in: Daily Telegraph (UK)


• meaning: A 'dead cat bounce' is a rather unpleasant term used to describe a small, short term recovery in a falling stock's price. Why? Well, if a cat was dropped from the top of a tall building it would bounce when it hit the ground - but it wouldn't bounce much and it would still be dead. (defined by Capital Performance Partners)