( 5 novembre, 2008 )




  1. WASHINGTON CONSENSUS:The phrase “Washington Consensus” is today a very popular in debates about trade and development. It is often seen as synonymous with “neoliberalism” and “globalization.” These policies were: Fiscal discipline , A redirection of public expenditure priorities toward fields (domaines) offering both high economic returns and the potential to improve income distribution, such as primary health care, primary education, and infrastructure , Tax reform (to lower marginal rates (tx de marginalisation)and broaden(élargir) the tax base),Interest rate liberalization (banks interest rates),A competitive exchange rate (taux de change),Trade liberalization (suppression des barrières douanières),Liberalization of inflows (afflux)of foreign direct investment ,Privatization (private enterprises, small businesses),Deregulation (to abolish barriers to entry and exit) ,Secure property rights (droit de propriété privée

  2. FREE TRADE is a system in which the trade of goods and services between or within countries flows (flux)unhindered (permises, non entravées)by government-imposed restrictions. Such government interventions generally increase costs of goods and services to both consumers and producers. Interventions include taxes and tariffs, non-tariff barriers, such as regulatory legislation and quotas, and even inter-government managed trade agreements such as the North American Free Trade Agreement (NAFTA) and Central America Free Trade Agreement (CAFTA) (contrary to their formal titles.) Free trade opposes all such interventions. Trade liberalization entails reductions to these trade barriers in an effort for relatively unimpeded (entravées) transactions 
  3. FLEXIBILITY is the absolute range (autonomie )of movement in a joint or series of joints and muscles that is attainable in a momentary effort with the help of a partner or a piece of equipment. It is a term for the ability to easily bend an object or the ability to adapt to different circumstances 
  4. SCHUMPETER To describe it he borrowed the phrase « creative destruction, » and made it famous by using it to describe a process in which the old ways of doing things are endogenously destroyed and replaced by new ways. 
  5.  LA DESTRUCTION CREATRICE : L’innovation est à la fois source de croissance et facteur de crise. C’est ce que Schumpeter résume par la formule « destruction créatrice ». Les crises ne sont pas de simples ratés de la machine économique ; elles sont inhérentes à la logique interne du capitalisme. Elles sont salutaires et nécessaires au progrès économique. Les innovations arrivent en grappes presque toujours au creux de la vague dépressionniste, parce que la crise bouscule les positions acquises et rend possible l’exploration d’idées nouvelles et ouvre des opportunités. Au contraire, lors d’une période haute de non-crise, l’ordre économique et social bloque les initiatives, ce qui freine le flux des innovations et prépare le terrain pour une phase de récession, puis de crise. 
  6. NASDAQ The NASDAQ (acronym of National Association of Securities Dealers Automated Quotations) is an American stock exchange. It is the largest electronic screen-based equity securities trading market in the United States. With approximately 3,200 companies, it has more trading volume per day than any other stock exchange in the world  15/10/2008 GLOBALIZATION in its literal sense is the process of transformation of local or regional phenomena into global ones. It can be described as a process by which the people of the world are unified into a single society and function together. This process is a combination of economic, technological, sociocultural and political forces. Globalization is often used to refer to economic globalization, that is, integration of national economies into the international economy through trade, foreign direct investment, capital flows, migration, and the spread of technology. 
  7. Le terme « MONDIALISATION » désigne le développement de liens d’interdépendance entre hommes et femmes, activités humaines et systèmes politiques à l’échelle du monde. Ce phénomène touche la plupart des domaines avec des effets et une temporalité propres à chacun. Il évoque aussi parfois les transferts internationaux de main-d’œuvre ou de connaissances. Ce terme est souvent utilisé aujourd’hui pour désigner la mondialisation économique, et les changements induits par la diffusion mondiale des informations sous forme numérique sur InternetThe « DOT-COM BUBBLE » (or sometimes the « I.T. bubble ») was a speculative bubble covering roughly 1995–2001 (with a climax on March 10, 2000 with the NASDAQ peaking at 5132.52) during which stock markets in Western nations saw their value increase rapidly from growth in the new Internet sector and related fields. The period was marked by the founding (and, in many cases, spectacular failure) of a group of new Internet-based companies commonly referred to as dot-coms. A combination of rapidly increasing stock prices, individual speculation in stocks, and widely available venture capital created an exuberant environment in which many of these businesses dismissed standard business models, focusing on increasing market share at the expense of the bottom line.


  1. INSTTITUTION : legal entity with legal form 
  2. CORPORATION : société, grande entreprise.(partnership)Several conditions :be  registered officially, which requires an external body to grant (accorder)you the business which is the state.It is a legal entity separate from the persons who are forming it. The term designates a body corporate formed to conduct business. Corporations exist as a product of corporate laws, and their rules balance the interests of the shareholders that invest their capital and the employees who generate income. 
  3. SMALL BUSINESS : a business that is independently owned and operated, with a small number of         employees (under 100 employees in the United States and under 50 employees in the European Union ) and relatively low volume of sales. (called PME in France). Small businesses are normally privately owned corporations. Besides  other methods are used to classify small companies for instance: annual sales, the value of assets and the benefits. Small businesses are common in many countries and depend on the economic systems. The smallest businesses, often located in private companies, are called microbusinesses .The term « mom and pop business » is a common expression for a single-family who operates business with a few employees: under than 10


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