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PATERNALISM: A fundamental philosophical viewpoint that the private sector (households and businesses) needs to be watched over--like a parent--by the public sector (government). In other words, members of society need to be watched over, cared for, and kept out of trouble, like parents watch over, care for, and keep their children out of trouble. This philosophy of paternalism should be contrasted directly with the philosophy of laissez faire, which essentially says "Hey, we're all grown ups here, we can make our own decisions."
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KEYNESIAN MODEL A macroeconomic model based on the principles of Keynesian economics that is used to identify the equilibrium level of, and analyze disruptions to, aggregate production and income. This model identifies equilibrium aggregate production and income as the intersection of the aggregate expenditures line and the 45-degree line. The Keynesian model comes in three basic variations designated by the number of macroeconomic sectors included--two-sector, three-sector, and four sector. The Keynesian model is also commonly presented in the form of injections and leakages in addition to the standard aggregate expenditures format. This model is used to analyze several important topics and issues, including multipliers, business cycles, fiscal policy, and monetary policy.
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YELLOW CHIPPEROON
[What's This?]
Today, you are likely to spend a great deal of time at the confiscated property police auction seeking to buy either galvanized steel storage shelves or a large green chalkboard shaped like the state of Maine. Be on the lookout for celebrities who speak directly to you through your television.
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The average bank teller loses about $250 every year.
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"You just don't luck into things as much as you'd like to think you do. You build step by step, whether it's friendships or opportunities. " -- Barbara Bush, first lady
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NORC
National Opinion Research Center
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