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Orbanomics
Orbanomics is the name given to the economic policies of Hungarian prime minister Viktor Orbán and his government since it took power in 2010. These policies are in reaction to the global economic crisis and the state of Hungary's economy in it. Instrumental in the invention and implementation of these policies was György Matolcsy, former Minister of National Economy and current Governor of the Hungarian National Bank. History After the 2010 parliamentary elections in Hungary, the newly elected Orbán government tried to negotiate an exemption from the strict European Union regulation setting a 3% limit on budget deficit. Since the request was declined, Hungary turned to taxation policies regarded as unorthodox by the international community to cover the deficit. Policies and regulations Approved reforms Nationalisation of private pension funds All private pension funds were abolished and nationalised which are estimated around $12,000,000,000 in total. Taxation * Increased ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fidesz
Fidesz – Hungarian Civic Alliance (; hu, Fidesz – Magyar Polgári Szövetség) is a right-wing populist and national-conservative political party in Hungary, led by Viktor Orbán. It was formed in 1988 under the name of Alliance of Young Democrats () as a centre-left and liberal activist movement that opposed the ruling Marxist–Leninist government. It was registered as a political party in 1990, with Orbán as its leader. It entered the National Assembly following the 1990 parliamentary election, although, it lost two seats after the 1994 election. Following the election, it adopted liberal-conservatism which caused liberal members to leave and to join the Alliance of Free Democrats. It then sought to form a connection with other conservative parties, and after the 1998 election, it successfully formed a centre-right government. It adopted nationalism in the early 2000s, but its popularity slightly declined due to corruption scandals. It served in the opposition betw ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Viktor Orbán
Viktor Mihály Orbán (; born 31 May 1963) is a Hungarian politician who has served as prime minister of Hungary since 2010, previously holding the office from 1998 to 2002. He has presided over Fidesz since 1993, with a brief break between 2000 and 2003. Orbán studied at the Faculty of Law of Eötvös Loránd University and briefly at the University of Oxford before entering politics in the wake of the Revolutions of 1989. He headed the reformist student movement the Alliance of Young Democrats (), the nascent Fidesz. Orbán became nationally known after giving a speech in 1989 in which he openly demanded that Soviet troops leave the country. After the end of Communism in Hungary in 1989 and the country's transition to multiparty democracy the following year, he was elected to the National Assembly and led Fidesz's parliamentary caucus until 1993. Under his leadership, Fidesz shifted away from its original centre-right, classical liberal, pro-European platform toward right ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Reaganomics
Reaganomics (; a portmanteau of ''Reagan'' and ''economics'' attributed to Paul Harvey), or Reaganism, refers to the neoliberal economic policies promoted by U.S. President Ronald Reagan during the 1980s. These policies are commonly associated with and characterized as supply-side economics, trickle-down economics, or "voodoo economics" by opponents, while Reagan and his advocates preferred to call it free-market economics. The pillars of Reagan's economic policy included increasing defense spending, balancing the federal budget and slowing the growth of government spending, reducing the federal income tax and capital gains tax, reducing government regulation, and tightening the money supply in order to reduce inflation. The results of Reaganomics are still debated. Supporters point to the end of stagflation, stronger GDP growth, and an entrepreneurial revolution in the decades that followed. Critics point to the widening income gap, what they described as an atmosphere of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Gigabyte
The gigabyte () is a multiple of the unit byte for digital information. The prefix ''giga'' means 109 in the International System of Units (SI). Therefore, one gigabyte is one billion bytes. The unit symbol for the gigabyte is GB. This definition is used in all contexts of science (especially data science), engineering, business, and many areas of computing, including storage capacities of hard drives, solid state drives, and tapes, as well as data transmission speeds. However, the term is also used in some fields of computer science and information technology to denote (10243 or 230) bytes, particularly for sizes of RAM. Thus, prior to 1998, some usage of ''gigabyte'' has been ambiguous. To resolve this difficulty, IEC 80000-13 clarifies that a ''gigabyte'' (GB) is 109 bytes and specifies the term ''gibibyte'' (GiB) to denote 230 bytes. These differences are still readily seen for example, when a 400 GB drive's capacity is displayed by Microsoft Windows as 372 G ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Eponymous Economic Ideologies
An eponym is a person, a place, or a thing after whom or which someone or something is, or is believed to be, named. The adjectives which are derived from the word eponym include ''eponymous'' and ''eponymic''. Usage of the word The term ''eponym'' functions in multiple related ways, all based on an explicit relationship between two named things. A person, place, or thing named after a particular person share an eponymous relationship. In this way, Elizabeth I of England is the eponym of the Elizabethan era. When Henry Ford is referred to as "the ''eponymous'' founder of the Ford Motor Company", his surname "Ford" serves as the eponym. The term also refers to the title character of a fictional work (such as Rocky Balboa of the ''Rocky'' film series), as well as to ''self-titled'' works named after their creators (such as the album ''The Doors'' by the band the Doors). Walt Disney created the eponymous Walt Disney Company, with his name similarly extended to theme parks such as ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
2010s Economic History
1 (one, unit, unity) is a number representing a single or the only entity. 1 is also a numerical digit and represents a single unit of counting or measurement. For example, a line segment of ''unit length'' is a line segment of length 1. In conventions of sign where zero is considered neither positive nor negative, 1 is the first and smallest positive integer. It is also sometimes considered the first of the infinite sequence of natural numbers, followed by 2, although by other definitions 1 is the second natural number, following 0. The fundamental mathematical property of 1 is to be a multiplicative identity, meaning that any number multiplied by 1 equals the same number. Most if not all properties of 1 can be deduced from this. In advanced mathematics, a multiplicative identity is often denoted 1, even if it is not a number. 1 is by convention not considered a prime number; this was not universally accepted until the mid-20th century. Additionally, 1 is the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Abenomics
refers to the economic policies implemented by the Government of Japan led by the Liberal Democratic Party (LDP) since the December 2012 general election. They are named after Shinzō Abe, who served a second stint as Prime Minister of Japan from 2012 to 2020. Abe was the longest-serving prime minister in Japanese history. After Abe resigned in September 2020, his successor, Yoshihide Suga, has stated that his premiership will focus on continuing the policies and goals of the Abe administration, including the Abenomics suite of economic policies. Abenomics is based upon "three arrows:" monetary easing from the Bank of Japan, fiscal stimulus through government spending, and structural reforms. ''The Economist'' characterized the program as a "mix of reflation, government spending and a growth strategy designed to jolt the economy out of suspended animation that has gripped it for more than two decades". During Abe's tenure, the rate of Japan's nominal GDP growth was higher, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
2014 Hungarian Internet Tax Protests
In late October 2014, anti-government demonstrations were held in Hungary, which were triggered by the government's announcement of a proposal to include the taxation of Internet usage in the Taxation Law, to be in effect from 2015. The ruling right-wing coalition's larger party, Fidesz made their proposal public on October 21, which is meant to extend the existing telecommunications tax to Internet usage. The proposal designated a 150 HUF/ GB tax rate (with 150 Ft being around $0.62, £0.38, or €0.49) paid by the internet service providers. Later, a cap was proposed: HUF 700 per month (individuals) or HUF 5,000 (companies). This idea, possibly coupled with other issues surfacing around the government prompted multiple, generally peaceful demonstrations in Budapest and in other cities in and outside Hungary. The amendment to the law is universally referred to as the "internet tax" (Hungarian: ''internetadó'') by Hungarian and global media outlets and critics, al ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mihály Varga
Mihály Varga (born 26 January 1965) is a Hungarian politician, current Minister of Finance (previously Minister of National Economy) since 2013. He also served as Minister of Finance between 2001 and 2002. He has been a member of Fidesz since the party's founding in 1988. He was one of the party's four vice presidents between 2005 and 2013. Early life and education Varga studied at Gábor Áron Secondary School in Karcag and finishing in 1983. He graduated in trade from Karl Marx University of Economic Science of Budapest in 1989. After defending his thesis he served as an auditor at the State Construction Company No. 43 in Budapest, and then became an economist at the East Hungary Water Planning Company in Szolnok in 1990. Political career At the end of December 1988 he joined the Alliance of Young Democrats (Fidesz). He was the founder of the Szolnok county Fidesz group. He became a member of Fidesz's National Board in 1990, and served as its chairman in 1992-93. From 1993 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Hungarian Forint
The forint (sign Ft; code HUF) is the currency of Hungary. It was formerly divided into 100 fillér, but fillér coins are no longer in circulation. The introduction of the forint on 1 August 1946 was a crucial step in the post-World War II stabilisation of the Hungarian economy, and the currency remained relatively stable until the 1980s. Transition to a market economy in the early 1990s adversely affected the value of the forint; inflation peaked at 35% in 1991. Between 2001 and 2022, inflation was in single digits, and the forint has been declared fully convertible. In May 2022, inflation reached 10.7% amid the war in Ukraine and economic uncertainty. As a member of the European Union, the long-term aim of the Hungarian government may be to replace the forint with the euro, although under the current government there is no target date for adopting the euro. History The forint's name comes from the city of Florence, where gold coins called '' fiorino d'oro'' were minted fro ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Hungary
Hungary ( hu, Magyarország ) is a landlocked country in Central Europe. Spanning of the Carpathian Basin, it is bordered by Slovakia to the north, Ukraine to the northeast, Romania to the east and southeast, Serbia to the south, Croatia and Slovenia to the southwest, and Austria to the west. Hungary has a population of nearly 9 million, mostly ethnic Hungarians and a significant Romani minority. Hungarian, the official language, is the world's most widely spoken Uralic language and among the few non-Indo-European languages widely spoken in Europe. Budapest is the country's capital and largest city; other major urban areas include Debrecen, Szeged, Miskolc, Pécs, and Győr. The territory of present-day Hungary has for centuries been a crossroads for various peoples, including Celts, Romans, Germanic tribes, Huns, West Slavs and the Avars. The foundation of the Hungarian state was established in the late 9th century AD with the conquest of the Carpathian Basin by Hungar ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
European Union
The European Union (EU) is a supranational political and economic union of member states that are located primarily in Europe. The union has a total area of and an estimated total population of about 447million. The EU has often been described as a '' sui generis'' political entity (without precedent or comparison) combining the characteristics of both a federation and a confederation. Containing 5.8per cent of the world population in 2020, the EU generated a nominal gross domestic product (GDP) of around trillion in 2021, constituting approximately 18per cent of global nominal GDP. Additionally, all EU states but Bulgaria have a very high Human Development Index according to the United Nations Development Programme. Its cornerstone, the Customs Union, paved the way to establishing an internal single market based on standardised legal framework and legislation that applies in all member states in those matters, and only those matters, where the states have agreed to act ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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