Misery Index

• The Misery Index is a simple macroeconomic indicator that sums the (seasonally adjusted) unemployment rate and the annual inflation rate to gauge the…

MIRR (Modified Internal Rate of Return)

• MIRR is a capital-budgeting metric that measures the annualized return of an investment while making more realistic reinvestment and financing assumptions than the…

Minsky Moment

Key takeaways – A “Minsky moment” describes a sudden collapse in asset prices following an extended period of credit-fueled speculative growth. – Hyman Minsky’s…

Minimum wage

Overview A minimum wage is a legally mandated price floor for hourly pay. In the U.S., the Fair Labor Standards Act (FLSA) sets a…

Milton Friedman

Key takeaways – Milton Friedman (1912–2006) was a Nobel Prize–winning economist best known for monetarism, the permanent income hypothesis, and his vigorous defense of…

Millennials at a glance

• Definition: Pew Research Center defines millennials (Gen Y) as people born 1981–1996 (some researchers expand the range slightly) (Pew Research). The name comes…

MiFID II

Overview MiFID II (Markets in Financial Instruments Directive II) is the European Union’s sweeping regulatory reform for financial markets that entered into force on…

Middle Market Firm

• Definition: Middle‑market firms are companies that fall between small businesses and large, publicly traded corporations. A common revenue-based definition—used by Harvard Business Review…

microfinance

Microfinance (also called microcredit) is the provision of basic financial services—typically small loans but also savings accounts, micro‑insurance, and financial education—to low‑income individuals or…

Michael Milken

Key takeaways – Michael R. Milken pioneered the modern high‑yield (“junk”) bond market in the 1970s–1980s, creating a new financing channel for lower‑rated companies…