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ECONOMIST: A individual, usually a homo sapien, who has received extensive training in economic theories, applications, and analysis and whose primary employment involves the research, teaching, consulting, and other applications of this economic training. Many economists are employed by institutions of higher education for the expressed purpose of enlightening impressionable college students in the wily ways of economic analysis. Other economists are employed by government agencies -- federal, state, and local -- for the expressed purpose of applying economic analysis to important policy decisions.
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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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ORANGE REBELOON
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Today, you are likely to spend a great deal of time at an auction seeking to buy either a large stuffed brown and white teddy bear or a replacement washer for your kitchen faucet. Be on the lookout for fairy dust that tastes like salt.
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The wealthy industrialist, Andrew Carnegie, was once removed from a London tram because he lacked the money needed for the fare.
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"Try not to become a man of success but rather to become a man of value. " -- Albert Einstein
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MRS
Marginal Rate of Substitution
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