Encyclopedia of American Business

Gr 9 Up—This resource explains business concepts, agencies, laws, and vocabulary relevant to the U.S. economic system. Updated from the 2004 edition to reflect the recent recession and the retreat of corporate giants that defined American business, this edition emphasizes financial markets, instruments, and regulatory authorities and adds entries covering topics such as subprime mortgages, investment fraud, and multiple-listing services. The writing is consistently clear and accessible. For example, an entry about the Credit Card Act of 2009 explains how the legislation forced lenders to replace confusing and misleading terminology given to consumers about lending rates. The entry bullets the key points of the law and offers a brief critical appraisal. Acronyms are listed both in abbreviated form and by full name, and the in-text cross references are in bold type. All entries follow up with lists of books, periodical articles, and/or Web sites for further investigation. The few charts contain information on the U.S. Public Debt, matrix management, and the Big Mac Index (which compares the current U.S. dollar price of a McDonald's Big Mac with its price in other countries), for example. An impressive general index at the end of the second volume displays main entries in bold type and boasts many cross-references. A current and affordable desk reference.—Vicki Reutter, Cazenovia High School, NY