The new business dictionary is targeted to business professionals and investors, but also people planning their retirement.Î¾ It's also to help business law, accounting and consulting firms keep abreast of business terminology, and it's a reference for business students, according to its author, retired finance professor David Scott.Î¾
"What we hoped to do was put together a book for the average person, so that when you're listening to the business news on the radio or you're watching a television program on the business news, or you're reading a newspaper — it's not that people are trying to mislead you, but it's simply that they don't have enough time to define all the terms that they're likely to use in a story that they're presenting.Î¾ So what we try to do is to provide a research tool for people, where they could go if they didn't understand a particular term and look it up and have a better understanding of the business news."
Scott says a reference book like this requires constant updating.
"One of the terms that I certainly missed — I didn't miss it because I hadn't heard it at the time I turned the manuscript in — was the 'troubled asset recorvery program,' the TARP fund, which is not in the book.Î¾ 'Credit default swaps,' that term is included.Î¾ But there are new terms all the time.Î¾ But I typically read a lot, and whenever I read something that, a new term that I'm not familiar with, I'll tear the sheet out (and) put it in a folder, and so I kinda keep a list of those, and that was very helpful."Î¾
Scott has written more than two dozen books on business and personal finance and investing.Î¾
Ed Mayberry, KUHF Houston Public Radio News.