= (quango)

A form of organization used when it is desired to provide government finance for an activity without making the day-to-day details of its operations subject to direct political control, and without making government ministers responsible for them. Governments appoint the governing bodies of quangos, and lay down their general objectives, but then entrust detailed decisions to their discretion. In the UK, for examples, quangos include the Arts Council and various research councils.

• lock-out
• locomotive principle
• logarithm
• logarithmic scale
• logistic curve
• log-linear function
• log-normal distribution
• log-rolling
• Lomé Convention
• London Inter Bank Offered Rate
• London International Financial Futures and Options Exchange
• long-dated security
• long position
• long rate
• long run
• long-run average cost
• long-run marginal cost
• long-run Phillips curve
• long-term interest rate
• long-term unemployment
• Lorenz curve
• loss
• loss leader
• Louvre Accord
• loyalty, brand