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INCOME DISTRIBUTION: The manner in which income is divided among the members of the economy. A perfectly equal income distribution would mean everyone in the country has exactly the same income. The income distribution in the good old U. S. of A., while more equal than most nations of the world, is far from perfectly equal. A certain amount of inequality in the income distribution is to be expected because resources are never equally distributed. Some labor is naturally going to be more productive--better able to produce the stuff that consumers want--and thus get more income. The same is true for capital, land, entrepreneurship. However, without government intervention, an unequal distribution of income tends to perpetuate itself. Those who have more income, can invest in additional productive resources, and thus can add even more to their income.
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VERIFICATION The hypothesis-testing step of the scientific method in which the hypothesized implication of a theory is compared against real world events and data. This verification can provide support or refutation of the hypothesis. Enough support enables a hypothesis to become a principle. Refutation calls into question the theory implying the hypothesis. In either event, further analysis is indicated.
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RED AGGRESSERINE
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Today, you are likely to spend a great deal of time going from convenience store to convenience store seeking to buy either a coffee table shaped like the state of Florida or storage boxes for your summer clothes. Be on the lookout for jovial bank tellers.
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In his older years, Andrew Carnegie seldom carried money because he was offended by its sight and touch.
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"The less secure a man is, the more likely he is to have extreme prejudices. " -- Clint Eastwood, actor, director
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DOL
Department of Labor
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