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SEIGNIORAGE: The difference between the face value, or value in exchange, of money and the cost of producing the money. This seigniorage is effectively the profit government generates from producing currency--printing paper bills or minting metal coins. That is, government effectively "makes money" by making money.
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CAPITALISM A type of economy, or economic system, based on--(1) private ownership of most resources, goods, and other assets; (2) freedom to generally use the privately-owned resources, goods, and other assets to get the most wages, rent, interest, and profit possible; and (3) a system of relatively competitive markets.
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BROWN PRAGMATOX
[What's This?]
Today, you are likely to spend a great deal of time touring the new suburban shopping complex wanting to buy either a handcrafted bird house or a weathervane with a chicken on top. Be on the lookout for spoiled cheese hiding under your bed hatching conspiracies against humanity.
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Only 1% of the U.S. population paid income taxes when the income tax was established in 1914.
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"Divide each difficulty into as many parts as is feasible and necessary to resolve it." -- Rene Descartes
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PPP
Purchasing Power Parity
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