[American Conservatism: An Encyclopedia , 2006] Classical liberalism is the term used to designate the ideology advocating private property, an unhampered market economy, the rule of law, constitutional guarantees of freedom of religion and of the press, and international peace based on free trade.
virage m â(plural virages) 1  bend, turn, curve. 2  change, shift (in orientation) ( 3 skiing) turn.  change in colour.
DEFINITION of 'Arbitrage'. The simultaneous purchase and sale of an asset in order to profit from a difference in the price. It is a trade that profits by exploiting price differences of identical or similar financial instruments, on different markets or in different forms.Arbitrage exists as a result of market inefficiencies; it provides a mechanism to ensure prices do not deviate substantially from fair value for long periods of time.rbitrage exists as a result of market inefficiencies; it provides a mechanism to ensure prices do not deviate substantially from fair value for long periods of time.