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THIRD RULE OF INEQUALITY: The third of seven basic rules of the economy. It is a fact of life that resources, income, and wealth are not equally distributed. Some people have more and some people have less. Why is this so? We can look to the age-old distinction between nature and nurture for insight. On the nature side, some people are born with more talents, abilities and intelligence than others, which they use to gain ownership and control of income-generating and wealth-producing resources. On the nurture side, some people work harder to develop skills, acquire education, and uncover opportunities that lead to ownership and control of income-generating and wealth-producing resources (human capital).
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ECONOMIC REPORT OF THE PRESIDENT An annual report of the economic performance of the U.S. economy written by the Chairman of the Council of Economic Advisors (CEA). It provides an overview of the nation's economic progress. A goal of the report is to provide the President with objective economic analysis and advice on the development and implementation of a wide range of domestic and international economic policy issues. The Council of Economic Advisors, the governmental body responsible for the report, was established by the Employment Act of 1946. The Economic Report of the President has been published every year since 1950.
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PINK FADFLY
[What's This?]
Today, you are likely to spend a great deal of time searching the newspaper want ads wanting to buy either a wall poster commemorating last Friday (you know why) or a country wreathe. Be on the lookout for the happiest person in the room.
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This isn't me! What am I?
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Three-forths of the gold mined each year is used to manufacture jewelry.
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"Do not think a man has done his full duty when he has performed the work assigned him. A man will never rise if he does only this. Promotion comes from exceptional work. " -- Andrew Carnegie, industrialist
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CPI-U
Consumer Price Index-All Urban Consumers
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