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🔗 History 🔗 Economics 🔗 Philosophy 🔗 Business 🔗 Philosophy/Ethics

A perverse incentive is an incentive that has an unintended and undesirable result that is contrary to the intentions of its designers. The cobra effect is the most direct kind of perverse incentive, typically because the incentive unintentionally rewards people for making the issue worse. The term is used to illustrate how incorrect stimulation in economics and politics can cause unintended consequences.

🔗 United States 🔗 International relations 🔗 Business 🔗 Politics 🔗 Trade 🔗 Taxation 🔗 Presidents of the United States 🔗 Presidents of the United States/Donald Trump

"Trump Always Chickens Out" (TACO) is a pejorative description of the perceived tendency of US president Donald Trump to make threats, only to later delay or renege on them as a way to increase time for negotiations and for markets to rebound. The phrase was popularized in May 2025 after the many threats and reversals during the trade war he initiated with his "Liberation Day" tariffs. On Wall Street, a TACO trade is buying stocks cheaply after a tariff announcement pushes stocks lower, then selling them at a profit after the tariffs are delayed or reduced and the market rebounds.

By 2026, TACO was also used for Trump's decisions in the realm of foreign policy, specifically his reversal of threats to annex Greenland, his attempt to find an abrupt exit for the escalating 2026 Iran War as global securities began to fall due to the rise in oil prices, and his last-minute ceasefire deal for the Iran War itself before the deadline for the American bombing campaign.

🔗 Business

"Think" (stylized as THINK) is a slogan associated with the American multinational technology company IBM.

🔗 Business

Management f-Laws are subversive epigrams about common management practices. Based on observation and experience, they are used to draw attention to entrenched ways of thinking about management and business that are often at odds with common sense or our actual experience.

Systems theorist Russell L. Ackoff, his co-author Herbert J. Addison and Sally Bibb invented the term in 2006 to describe their series of over 100 distilled observations of bad leadership and the misplaced wisdom that often surrounds management in organizations. Ackoff and Addison's f-Laws might seem counter-intuitive. They are designed to challenge organizations' unquestioning adherence to established management habits or beliefs. Many of the f-Laws describe a relationship of inverse proportionality, in example: "The lower the rank of managers, the more they know about fewer things."

The f-Laws advocate adopting a positive, forward-looking and interactive approach to structural or systematic change within organizations, following the principles of idealized design. This is a process that "involves redesigning the organization on the assumption that it was destroyed last night... The most effective way of creating the future is by closing or reducing the gap between the current state and the idealized design".

Three collections of f-Laws entitled A Little Book of f-Laws: 13 Common Sins of Management, Management f-Laws: How Organizations Really Work and Systems Thinking for Curious Managers have been published. While, if read in isolation, each f-Law is a witty and thought-provoking axiom, the books provide a context that draws upon systems thinking and the debate over the importance of developing soft skills in business environments.

🔗 United States 🔗 Finance & Investment 🔗 Economics 🔗 Business

The Panic of 1907 – also known as the 1907 Bankers' Panic or Knickerbocker Crisis – was a financial crisis that took place in the United States over a three-week period starting in mid-October, when the New York Stock Exchange fell almost 50% from its peak the previous year. Panic occurred, as this was during a time of economic recession, and there were numerous runs on banks and trust companies. The 1907 panic eventually spread throughout the nation when many state and local banks and businesses entered bankruptcy. Primary causes of the run included a retraction of market liquidity by a number of New York City banks and a loss of confidence among depositors, exacerbated by unregulated side bets at bucket shops.

The panic was triggered by the failed attempt in October 1907 to corner the market on stock of the United Copper Company. When this bid failed, banks that had lent money to the cornering scheme suffered runs that later spread to affiliated banks and trusts, leading a week later to the downfall of the Knickerbocker Trust Company—New York City's third-largest trust. The collapse of the Knickerbocker spread fear throughout the city's trusts as regional banks withdrew reserves from New York City banks. Panic extended across the nation as vast numbers of people withdrew deposits from their regional banks. It is the 9th largest decline in U.S. stock market history.

The panic might have deepened if not for the intervention of financier J. P. Morgan, who pledged large sums of his own money, and convinced other New York bankers to do the same, to shore up the banking system. This highlighted the impotence of the nation's Independent Treasury system, which managed the nation's money supply yet was unable to inject liquidity back into the market. By November, the financial contagion had largely ended, only to be replaced by a further crisis. This was due to the heavy borrowing of a large brokerage firm that used the stock of Tennessee Coal, Iron and Railroad Company (TC&I) as collateral. Collapse of TC&I's stock price was averted by an emergency takeover by Morgan's U.S. Steel Corporation—a move approved by anti-monopolist president Theodore Roosevelt. The following year, Senator Nelson W. Aldrich, a leading Republican, established and chaired a commission to investigate the crisis and propose future solutions, leading to the creation of the Federal Reserve System.

🔗 Technology 🔗 Business

A format war describes competition between mutually incompatible proprietary formats that compete for the same market, typically for data storage devices and recording formats for electronic media. It is often characterized by political and financial influence on content publishers by the developers of the technologies. Developing companies may be characterized as engaging in a format war if they actively oppose or avoid interoperable open-industry technical standards in favor of their own.

A format war emergence can be explained because each vendor is trying to exploit cross-side network effects in a two-sided market. There is also a social force to stop a format war: when one of them wins as de facto standard, it solves a coordination problem for the format users.

🔗 Aviation 🔗 Business 🔗 Aviation/aircraft 🔗 Languages

ASD-STE100 Simplified Technical English (STE) is a controlled natural language that is designed to simplify and clarify technical documentation. It was originally developed in the 1980s by the European Association of Aerospace Industries (AECMA) at the request of the European airline industry, which wanted a standardized form of English for aircraft maintenance documentation that could be easily understood by non-native English-speakers.

It has since been adopted in many other fields outside the aerospace, defense, and maintenance domains for its clear, consistent, and comprehensive nature. The current edition of the STE standard, which was published in January 2025, consists of 53 writing rules and a dictionary of approximately 900 approved words.

🔗 Computing 🔗 Business 🔗 Computing/Software 🔗 Business/Accounting

Lotus 1-2-3 is a discontinued spreadsheet program from Lotus Software (later part of IBM). It was the first killer application of the IBM PC, was hugely popular in the 1980s, and significantly contributed to the success of IBM PC-compatibles in the business market.

The first spreadsheet, VisiCalc, had helped launch the Apple II as one of the earliest personal computers in business use. With IBM's entry into the market, VisiCalc was slow to respond, and when they did, they launched what was essentially a straight port of their existing system despite the greatly expanded hardware capabilities. Lotus's solution was marketed as a three-in-one integrated solution: it handled spreadsheet calculations, database functionality, and graphical charts, hence the name "1-2-3", though how much database capability the product actually had was debatable, given the sparse memory left over after launching 1-2-3. It quickly overtook VisiCalc, as well as Multiplan and SuperCalc, the two VisiCalc competitors.

Lotus 1-2-3 was the state-of-the-art spreadsheet and the standard throughout the 1980s and into the early 1990s, part of an unofficial set of three stand-alone office automation products that included dBase and WordPerfect, to build a complete business platform. Lotus Software had their own word processor named Lotus Manuscript, which was to some extent acclaimed in academia, but did not catch the interest of the business, nor the consumer market. With the acceptance of Windows 3.0 in 1990, the market for desktop software grew even more. None of the major spreadsheet developers had seriously considered the graphical user interface (GUI) to supplement their DOS offerings, and so they responded slowly to Microsoft's own GUI-based products Excel and Word. Lotus was surpassed by Microsoft in the early 1990s, and never recovered. IBM purchased Lotus in 1995, and continued to sell Lotus offerings, only officially ending sales in 2013.

🔗 Companies 🔗 Private Equity 🔗 Business 🔗 Songs 🔗 Websites 🔗 Websites/Computing

Amie Street was an indie online music store and social network service created in 2006 by Brown University seniors Elliott Breece, Elias Roman, and Joshua Boltuch, in Providence, Rhode Island. The site was notable for its demand-based pricing. The company was later moved to Long Island City in Queens, New York. In late 2010, the site was sold to Amazon who redirected customers to their own website.

🔗 Companies 🔗 Finance & Investment 🔗 Lists 🔗 Business 🔗 Business/Accounting

This page lists the largest annual and quarterly earnings and losses in corporate history. In general terms the oil and gas industry is the one generating both largest annual and quarterly earnings. In contrast, both the annual and quarterly losses are more distributed across industries.