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OIKONOMOS: This rather strange word is a greek term meaning "household manager" or "household steward" that gave rise to the modern term economy and the whole range of related terms, including economic, economics, economist, and economize. Ironically there are those who use economics less with the goal of providing "stewardship" of the economy and more focused on the goal of extracting maximum personal gain.

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PERFECT COMPETITION, FACTOR MARKET ANALYSIS

The analysis of a factor market characterized by perfect competition indicates that each buyer maximizes profit by equating marginal revenue product to the factor price. This achieves an efficient allocation of resources and provides a benchmark for analyzing other factor market structures, including monopsony, monopoly, and bilateral monopoly.

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GREEN LOGIGUIN
[What's This?]

Today, you are likely to spend a great deal of time flipping through the yellow pages hoping to buy either a pleather CD case or a how-to book on fine dining. Be on the lookout for cardboard boxes.
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This isn't me! What am I?

John Maynard Keynes was born the same year Karl Marx died.
"A winner is someone who recognizes his God-given talents, works his tail off to develop them into skills, and uses those skills to accomplish his goals. "

-- Larry Bird, basketball player

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RAND Journal of Economics
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