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economic programming (P1)<br />The co-ordination of the independent production decisions of independent companies in late capitalist economies.
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interest rate swap (G2)<br />An exchange of a fixed for a variable interest rate arrangement. Despite the high risk of these swaps, in practice the return on the deal can be as low as one-twentieth of 1 per cent. This form of rescheduling debts was used in the 1980s by UK local authorities and led to great losses when interest rates rose.
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decimalization (E5)<br />A change in the currency of a country so that the basic unit is divisible into ten parts. The French franc and US dollar have been divided into a hundred cents since the eighteenth century and the Australian dollar since 1966. In the UK in 1971 the pound, previously divisible into twenty shillings or 240 pence, was made equivalent to 100 new pence. It is feared that this type of currency change leads to consumers losing their PRICE PERCEPTION and unwittingly accepting price increases. However, the quotation of prices in old and new forms reduces this disguised inflation.
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