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WORKERS' COMPENSATION: A government-run insurance program that provides benefits to workers injured on the job. Funding for these benefits come from premiums paid by employers. The federal government mandates the program, but it's administered by each of the states. This creates a great deal of diversity, with some states having good benefits and high premiums (sort of pro labor), while others have lousy benefits and low premiums (pro business). In addition to differences among states, premiums also differ based on a business's historical record of accidents. Those companies with a higher number of industrial accidents pay more in premiums than those with fewer accidents.
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BANK RUN A situation in which a relatively large number of a bank's customers attempt to withdraw their deposits in a relatively short period of time, usually within a day or two. While common throughout the 1800s and early 1900s, government deposit insurance has largely eliminated banks runs in the modern economy. Historically a bank run was prompted by fears that the bank was on the verge of collapse, causing deposits to become worthless. Ironically a bank run often caused the bank to fail. Bank runs were often infectious, leading to economy-wide bank panics and business-cycle contractions.
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WHITE GULLIBON
[What's This?]
Today, you are likely to spend a great deal of time at an auction trying to buy either any book written by Isaac Asimov or a how-to book on building remote controlled airplanes. Be on the lookout for the last item on a shelf.
Your Complete Scope
This isn't me! What am I?
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Mark Twain said "I wonder how much it would take to buy soap buble if there was only one in the world."
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"Whenever an individual or a business decides that success has been attained, progress stops. " -- Thomas Watson Jr., IBM executive
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SSAP
Statement of Standard Accounting Practice
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