Stock. In a specialized financial sense, a type of security or method of holding capital. Unlike shares, which cannot be transferred in fractions, stock may be transferred in any moment, subject sometimes to limits. A company may convert fully-paid shares into stock; but stocks are issued mostly by public or semi-public utilities: local authority stocks are an important example. Stocks are always 'registered' (so that their sale has to be made by deed of transfer) or inscribed' (they can then be transferred only by the personal attendance of the owner or his appointed representative at the office where the list of stockholders is recorded). Stock transfers require much less work from the issuing body than share transfers: for this reason (all other things equal) stock is a more convenient form of security.

(b) In its general everyday sense of an accumulation of a commodity, stock is important in several economic theories on the rate of interest. The notion of a stock is often important in economic theory. Where stocks are large in relation to current flows of supply on to and off the market the latter may have little effect on price. For example, the price of houses is largely determined by the demand for the existing stock, not by the cost of erecting new ones.

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Since then his writings have in turn been increasingly reinterpreted as a special case both by some followers and by some economists who had not wholly accepted his writings. The content of economics is in a state of change, and this site is therefore not a final statement of economic doctrine.

Economics is in the last resort a technique of thinking. The reader will therefore need to make an intellectual effort, more substantial for some web entries than for others, to get the most interest and value out of this website.