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PHYSICAL WEALTH: The ownership of productive resources, capital, and property and satisfaction-generating goods. Also termed real wealth. This should be contrasted with financial wealth that is based on ownership of financial or paper assets.

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VOTING PROBLEMS

Voting is a key source of government inefficiency because it can fail to provided leaders with a valid indication of society's preferences. Part of the inefficiency rests with utility-maximizing decisions of the voters, who choose rational ignorance (not to be informed) and rational abstention (not to participate), both of which lead to voter apathy and influential special interest groups. Part of the inefficiency rests with the voting process, which results in importance of the median voter, inconsistency of the voting paradox, and logrolling (vote-trading ) among voters.

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WHITE GULLIBON
[What's This?]

Today, you are likely to spend a great deal of time driving to a factory outlet hoping to buy either a pleather CD case or a how-to book on fine dining. Be on the lookout for defective microphones.
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This isn't me! What am I?

Ragnar Frisch and Jan Tinbergen were the 1st Nobel Prize winners in Economics in 1969.
"Whenever you fall, pick up something. "

-- Oswald Avery, scientist

BLS
Bureau of Labor Statistics
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