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Adam Smith (1723-1790) was a Scottish moral philosopher and a pioneer of political economics. One of the key figures of the Scottish Enlightenment, Smith is the author of The Theory of Moral Sentiments and An Inquiry into the Nature and Causes of the Wealth of Nations. The latter, usually abbreviated as The Wealth of Nations, is considered his magnum opus and the first modern work of economics. Smith is widely cited as the father of modern economics.

Hardcore poverty means stubbornly resistant to improvement or change. Hardcore poverty is defined as those without a meal a day and a shelter over their head. This is basis human need and it is our responsibility as fellow human beings to provide for our less privileged community.

The Dead Sea, also called the Salt Sea, is a salt lake bordering Jordan to the east, and Israel and the West Bank to the west. It is the lowest elevation on the Earth's surface on dry land. The Dead Sea is the deepest hypersaline lake in the world. It is also one of the world's saltiest bodies of water, with 33.7% salinity. It lies in the Jordan Rift Valley, and its main tributary is the Jordan river.

A bill of lading is a type of document that is used to acknowledge the receipt of a shipment of goods. A transportation company or carrier issues this document to a shipper. In addition to acknowledging the receipt of goods, a bill of lading indicates the particular vessel on which the goods have been placed, their intended destination, and the terms for transporting the shipment to its final destination.

The term 'bank cheque' describes a cheque that is issued by a bank. Bank cheques are generally treated by the law in the same manner as ordinary cheques. Although some people regard bank cheques as equivalent to cash, there are certain circumstances where a bank cheque may not be paid.

Gross Domestic Product (GDP) is a measure of a country's overall official economic output. It is the market value of all final goods and services officially made within the borders of a country in a year. Usually, GDP is expressed as a comparison to the previous quarter or year. For example, if the year-to-year GDP is up 3%, this is thought to mean that the economy has grown by 3% over the last year.

Gross National Product (GNP) is the total value of all final goods and services produced within a nation in a particular year, plus income earned by its citizens (including income of those located abroad), minus income of non-residents located in that country. Basically, GNP measures the value of goods and services that the country's citizens produced regardless of their location.

Inflation is the rate at which the general level of prices for goods and services is rising, and subsequently, purchasing power is falling. Central banks attempt to stop severe inflation, along with severe deflation, in an attempt to keep the excessive growth of prices to a minimum. Most countries central banks try to sustain an inflation rate of 2-3%.

A bank rate is the interest rate that is charged by a country's central or federal bank on loans and advances to control money supply in the economy and the banking sector. This is typically done on a quarterly basis to control inflation and stabilize the country's exchange rates. A fluctuation in bank rates triggers a ripple-effect as it impacts every sphere of a country's economy.

Traditionally, swap is the exchange of one security for another to change the maturity (bonds), quality of issues (stocks or bonds), or because investment objectives have changed. Recently, swaps have grown to include currency swaps and interest rate swaps. If firms in separate countries have comparative advantages on interest rates, then a swap could benefit both firms.

One of the great ironies of the financial meltdown of 2008 - which was really more of a values meltdown - is that very few U.S. laws were actually broken. It investigates the financial crisis from a different legal perspective -that of Jewish law, using six framing principles: misleading with bad advice; deception and fraud; bribery, both outright and subtle; honest weights and measures; conflicts of interest; and transparency. Each of these is used as a lens through which to view the activities and behaviors that caused the current financial debacle and, in the process, almost totaled the global economy.

A free-market economy is an economy where all markets within it are unregulated by any parties other than those players in the market. In its purest form the government plays a neutral role in its administration and legislation of economic activity neither limiting nor actively promoting it.

Islamic Development Bank (also known as IDB), is a multilateral development financing institution located in Jeddah, Saudi Arabia. It was founded by the first conference of Finance Ministers of the Organization of the Islamic Conference (OIC), convened 18 December 1973. The bank officially began its activities on 15 Shawwal 1395H (20 October 1975). There are 57 shareholding member states of IDB.

World Bank is a vital source of financial and technical assistance to developing countries around the world. Its mission is to fight poverty with passion and professionalism for lasting results and to help people by providing resources, sharing knowledge and forging partnerships in the public and private sectors. They are not a bank in the common sense; they are made up of two unique development institutions the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA).

International Monetary Fund (IMF) is an organization of 191 countries, working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world. It offers highly leveraged loans, mainly to poorer countries. Its headquarters are in Washington, D.C., United States.