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AMERICAN ECONOMIC ASSOCIATION: An organization of over 25,000 professional economists. Founded in 1885, this premier top-of-the-economic-association-list publishes the prestigious American Economic Review, arguably THE number one scholarly U.S. economic journal and the Journal of Economic Literature, arguably THE number one index of economic journal publications. The AEA, as acronymically inclined economists call it, also sponsors an annual conference where professional economists present scholarly papers on their latest scholarly research.
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PROFIT MAXIMIZATION The process of obtaining the highest possible level of profit through the production and sale of goods and services. The profit-maximization assumption is the guiding principle underlying production by a firm. In particular, it is assumed that firms undertake actions and make the decisions that increase profit. The profit-maximization assumption is the production counterpart to the utility-maximization assumption for consumer behavior.
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GRAY SKITTERY
[What's This?]
Today, you are likely to spend a great deal of time browsing through a long list of dot com websites trying to buy either a coffee cup commemorating yesterday or a replacement remote control for your television. Be on the lookout for celebrities who speak directly to you through your television.
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Junk bonds are so called because they have a better than 50% chance of default, carrying a Standard & Poor's rating of CC or lower.
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"Progress always involves risk. You can't steal second base and keep your foot on first. " -- Frederick B. Wilcox
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PSBR
Public Sector Debt Repayment
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