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No one is free. The winners must compete, the losers must be exploited
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IF MEN DEFINE SITUATIONS AS REAL, THEY ARE REAL IN THEIR CONSEQUENCES

Glossary

RESPONSIBILITY

A moral obligation to deal with something.

The responsibility is closely connected with someone’s role in the society. It involves the things one is accountable for, and a penalty if responsibility is disregarded. As any action has a cause, it has a consequence. The responsibility implies consciousness of ourselves as agents, i.e., the responsibility for oneself but also for the others. The causal responsibility for our own thoughts, natures, and actions is the core problem of any theory of action.

Recommended artwork
enlarge image People of Europe, guard your sacred values, drawing by George Grosz, Berlin: Malik Verlag, 1923
Source Graphic Witness

This critical drawing is part of the collection translated as "One Day We'll Get Even" or "The Day of Reckoning" published in 1923 in Berlin. George Grosz depicted chaotic shift in German society emerged after the First World War. The main characters of his drawings were capitalists, prostitutes, criminals, military cast, war-invalids, bureaucracy, priests… They played in a scenes of the social immorality, the collapse of middle class, the downturn of economy, or political-business corruptive affairs. Due to the hyperinflation in Germany, the poor got poorer and the rich got richer. The value of labour was decreasing while the business loans were pied off with devalued money. In the drawing “Stinnes and his president,” part of a collection "One Day We'll Get Even", Grosz made reference to Hugo Stinnes, a businessman who gained control over 1600 companies for a tiny part of their real value.

An example in the ARTS -> “When you start to think that you can create something out of nothing it is very difficult to resist.”(1)

D.S: “I’ve attended a very interesting dinner organized by Hank Paulson, a little more than one year ago, with some officials and a couple of CEOs from the biggest banks in the U.S. Surprisingly enough, all these gentlemen were arguing we were too greedy so we have part of responsibility. Fine. Then they are turning to the treasurer, to the secretary of the treasury, and say you should regulate more because we are too greedy, we can’t avoid it.”
I: “The only way to avoid this is to have more regulation. I have spoken to many bankers about this question, including very senior ones. This is the first time that I’ve ever heard anybody say that they actually wanted their compensation to be regulated.”
D.S: “Yes, because it was at the moment where they were afraid. And after, when solution to the crisis began to appear they changed their mind.”(2)
A.S: “They were having massive private gains at public loss… Why should the financial engineer be paid four times to a hundred times more the the real engineer? A real engineer builds bridges, a financial engineer builds dreams, and when those dream turn out to be nightmares, other people pay for it.“(3)

REF -> Transcript: The documentary about the global economic crisis of 2008 Inside Job (2010). Directed by Charles Ferguson, written by Charles Ferguson and Chad Beck. Staring: Matt Damon as narrator.
(1) Lee Hsien Loong, a Prime minister, Singapore;
(2) Interview with Dominique Strauss-Kahn, a Managing Director of International Monetary Fund;
(3) Andrew Sheng, a Chief Advisor of China Banking Regulatory Commision.

https://www.imdb.com/title/tt1645089

A
ADAPTABILITY
Learn from experience and adjust to new circumstances or environment.
ART
A creative mental or physical activity done by artist in order to produce an artwork.
ART by UNESCO (1980)
UNESCO Member States recognise that “art reflects, preserves and enriches the cultural identity and spiritual heritage of the various societies, constitutes a universal form of expression and communication and, as a common denominator in ethnic, cultural or religious differences, brings home to everyone the sense of belonging to the human community, should accordingly, and for these purposes, ensure that the population as a whole has access to art.”
ARTIST
A liable agent of the art who produces artworks as a profession or hobby.
ARTIST by UNESCO (1980)
Implies “any person who creates or gives creative expression to, or re-creates works of art, who considers his artistic creation to be an essential part of his life, who contributes in this way to the development of art and culture and who is or asks to be recognised as an artist, whether or not he is bound by any relations of employment or association.”
ASSET
A resource with economic value owned by an individual, corporation, or country, that might provide benefit in the future. This includes cash, stocks, bonds, equipment, buildings, real estate, etc.
AUTONOMY
The condition of self-government. The autonomy of an individual or organisation depends on access to resources in the environment and competition for them.
ACTOR-ENVIRONMENT MODEL
Two dominant paradigms includes: natural selection model, focused on survival and environmental selection; and political economy model or resource dependence model, focused on strategic choice and adaptation to the environment.
B
BANKRUPTCY
Unable to repay debts and declared as insolvent. There are 'voluntary bankruptcy' called upon itself by a debtor or 'involuntary bankruptcy' which is forced on court orders on behalf of creditors.
BOND
A debt security that has a fixed maturity date issued for the purpose of raising financial resources. It confirms the existence of an obligation and it serves as a creditor’s proof that a debtor will repay borrowed money at a fixed rate of interest at a specified time.
BET
Risk something against (someone) on the outcome or happening of a future event.
BET OPTIONS
Represent three requisite elements for achieving a goal in games, economics or life: environment, resources and strategies.
C
CAPACITY
Or munificence, a feature of environment that indicates the supply of resources in the environment, the munificence enlarges safety.
CAPITAL
A money or machinery inserted within a specific set of social relations whose aim is expansion of value, i.e., the accumulation of capital.
CHANCE
An opportunity to succeed unexpectedly.
CHOICE
An opportunity to succeed unexpectedly.
COERCION
The use of force or threats to make someone do something unwillingly.
COMPETITIVENESS
An ability to strive better than others, requires rapid responses to changing environmental conditions.
CONCENTRATION
A feature of environment that denotes the degree to which necessary resources are controlled by a small number of players, high concentration raises dependance and risk.
CONTINGENCY
An event that cannot be predicted with certainty.
COORDINATION
A feature of environment that demonstrates the capacity of players to act together according to shared group ethics and common values or goals. The coordination strengthens safety.
CORRUPTION
Bribery or depraved conduct by those in power.
CRASH
A sudden and major decline in a stock market, usually when a 20% drop in an index's total value is evidenced.
CREDITOR
A party to whom money is owed.
D
DEPENDENCE
The state of relying on or being controlled, defined as the barging position of the focal organisation with respect to interacting organisation.
DEPTOR
A party who owes money.
DURABILITY
Continuing for a long time.
E
EFFICIENCY
The use of resources that maximises the production.
EFFECTIVENESS
Successful in producing a result. Yuchtman and Seashore defined organisational effectiveness as the ability to obtain scarce resources, hold barging position, and maintain one’s autonomy.
ENVIRONMENT
A surrounds of individual or organisation viewed as a pool of resources.
ENVIRONMENT’s DIMENSIONS
six abstract features relevant to information and resource view of the environment: capacity, concentration, hostility, mutability, stability, coordination.
EQUILIBRIUM
A state in which supply and demand are matched.
EXPANSION
The process of increasing.
EXPECTATION
A belief that something ought to happen.
F
FREEDOM
An absence of constraint, or liberation from social and cultural bondage that prevent full self-realisation of a person. The motto of Value Quest Bourse is the paraphrase of Marx and Engels statement: “No one is free, the winners must compete, the losers must be exploited.”
FUNDS & CAPITAL
A resource that implies operating funds and accumulations of capital that one has on its disposal.
FLUCTUATION
Irregular rise and fall in a quantity and quality over time.
G
GREED ECONOMY
The set of inter-related economic activities driven by greed that implies the production and consumption of goods and services whose ultimate goal is high Index of Fortune.
GOLD
A valuable soft yellow metal used in jewellery, decoration, and to guarantee the value of currencies.
H
HOSTILITY
Or threat, a feature of environment that shows the disposition of surrounding toward the player, the hostility increases risk.
I
IMPARTIALITY
Fair and just treatment of all rivals.
INFORMATION
A resource that entails a facts provided by the environment about something or someone.
INDUSTRIAL SECTOR
A branch of an economy.
INTEREST
A stake in an undertaking or the cost of renting money.
INTERVENTION
(Government) Influence in another’s affairs or marketplace.
ISSUER
Entity that issues securities.
J

K

L
LABOUR
A mental or physical activity done in order to achieve certain result, or a job that you do in order to earn income.
LAISSEZ FAIRE
The policy of letting things to develop without (government) control. The French phrase laissez-faire, means "leave to do" or "leave it alone", implies noninterventionism by state in the operation of market.
LEVERAGE
The amount of debt used to finance a firm's assets. The borrowed money or financial instruments are used to increase production volume, and thus sales and earnings. The financial leverage is calculated as the ratio of total debt to total assets, e.g., a firm that has more debt than equity is highly leveraged.
LIQUIDATION
Brings to an end the affairs of a business or firm that doesn’t make sense any more. The assets are sold to pay creditors, the leftovers are distributed among the shareholders.
see BANKRUPTCY
M
MATURITY
The period for which a bond, contract, guaranty, etc., is issued or is in force.
MISTAKE
Incorrect action or judgement.
MONEY
A current medium of exchange made in the form of coins and banknotes.
MORALS
A person's standards of behaviour or beliefs concerning what is goodness and rightness in character and behaviour.
MUTABILITY
A feature of environment that implies liability of surrounds to change. High level of overturns in the environment raise uncertainty and risk.
N

O

P
PERPETUAL BOND
Or Perp, a bond with no maturity date. It is not redeemable by the issuer but generates return forever similar to stock dividend payments.
PERSONNEL
A resource that refers to people employed or engaged in an organisation.
PLANNING
A set of actions for achieving goals in future.
PREDICTABILITY
Happening in the way you expected.
PRIVILEGE
A special advantage available only to some people.
PROBABILITY
The likelihood that something will happen.
PRODUCTS & SERVICES
A resource that encompass commercially manufactured articles and work done for a customer.
PROFIT
A financial gain that you obtain by the difference between the amount earned and the amount spent on costs.
PROSPECTS
Chances for success and wealth.
Q
QUEST
A long and arduous search for something.
R
RANDOMNESS
Happening without method or conscious decision.
REDUCTION
The process of decreasing.
RESOURCE
A supply of funds and capital, information, personnel, products and services that a person or organisation seeks after in the environment in order to operate effectively.
RESPONSIBILITY
A moral obligation to deal with something.
RESTRICTION
The control and limitation of someone or something.
RISK
A possibility of an undesirable outcome, damage or loss.
S
SAFETY
The condition of being protected from risk.
SECURITY
A financial instrument representing financial value, such as: debt securities like bonds; equity securities like common stocks; and derivative contracts like swaps.
STABILITY
A feature of environment that identifies weather the surrounds is firmly established. Low level of fluctuations in the environment increase safety.
SPECULATION
Taking high risks in expectation of large gains.
SOLIDITY
The state of being substantial and firm.
SATISFACTION
Fulfilment of a need, demand or desire.
STRUGGLE
A long and hard fight.
SWAP
A derivative contract in which counterparties exchange one security for another to change the maturity (bonds), quality of issues (stocks or bonds), or due to the fact that investment goals have altered.
STRATEGY
A plan of action or policy designed to deal with uncertain future circumstances.
STRATEGIC CHOICE
Certain decisions, structures or behaviours which are positively or negatively selected, depending on their fit with environmental conditions.
STRATEGIC’ CONTINGENCIES THEORY
of Intraorganisational Power by D. J. Hickson states that power within the organisation comes from a subunit’s capability for coping with critical organisational uncertainties, as well as from the importance of the uncertainty and the extent to which other subunits can substitute.
T
THE INDICES OF FORTUNE
(pl.), an indicator of total value of a person's prospective assets: virtues, hopes, intellectual property, money, securities, land, or valuables such as artworks.
THOMAS THEOREM
A sociological theory which stated that the definition of a situation influences the present: “If men define situations as real, they are real in their consequences.” It was formulated in 1928 by William Isaac Thomas (1863–1947).
THE WHEEL OF FORTUNE
Refers to the uncertainty of Fate. A symbol of the goddess Fortuna.
U
UNCERTAINTY
Unmeasurable risk.
URTICA ANTIDOTUM
A salvage serum; an industrial sector Health and Social Work.
URTICA FABER
A forger of the future; an industrial sector Education.
URTICA LUCRUM
A exchanged value; an industrial sector Trade.
URTICA MANUS
A measure of value; an industrial sector Manufacturing and Services.
URTICA METAMORPHOSIS
That which changes; an industrial sector Arts, Recreation and Entertainment.
URTICA NUNTIUS
A messenger; an industrial sector Information and Communication.
URTICA NUTRIMENTUM
An inherent value; an industrial sector Agriculture.
URTICA SIDEREUS
An use value; an industrial sector Science and technology.
URTICA THESAURUS
A deposit of value, an industrial sector Finance and Insurance.
URTICA TRIDENS
An instrument of power; an industrial sector Public Administration and Defence.
V
VALUE
The regard that something is held useful, important and precious, or the worth of something measured by the price paid or asked for it.
VALUE AT RISK (VaR)
A technique based on the statistical analysis that enables estimation of losses and measures possible risk while it happens.
VALUE QUEST BOURSE
An art-allegory of socio-economic cycle created as an amalgam of hazard game, enterprise strategies and stock market.
VARIABILITY
The range of possible outcomes.
VARIATION
short-run or long-run transformation that occurs at random or as planned response to environmental contingencies. The most suitable variations (structures or behaviours) are retained through the selection process.
VQ VALUE
A number within VQ Indices that represents the sum of won and lost points per industrial sector played at VQ roulette. It is calculated and displayed in real-time.
VQ VOLUME
A number within VQ Indices that represents the number of bets per industrial sector played at VQ roulette. It is calculated and displayed in real-time.
VQ INDICES
A portfolio of VQ industrial sectors representing a statistical measure of change in Volume, Value, and Winning strategy. It is calculated and displayed in real-time.
VQB (histogram)
A diagram that displays the volume frequency of VQ Perpetual Bond, i.e., the survival rate of value inputs over a given period of time.
VQX 10
An index of Value Quest Bourse composed of values of 10 component sectors. VQX 10 histogram displays the fluctuation of VQX 10 over a given period of time. Calculated continuously.
W
WINNING STRATEGY
A strategy (inside bets) displayed within VQB Indices that has highest number of won points at VQ roulette per industrial sector.
WITHDRAWAL
The action of removing or stopping something.
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Useful links:
https://www.investopedia.com
https://www.businessdictionary.com
https://en.wikipedia.org
https://www.enotes.com/econ-encyclopedia
Oxford Dictionary of Philosophy