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DEMAND DEPOSIT: A bank deposit that can be withdraw "on demand." This is a once common, but increasingly dated term meaning checking account deposits, checkable deposits, or transactions deposits. To the extent that demand deposits is the term used to mean checkable deposits, they are an important part of the M1 money supply. The term "demand" was used to distinguish checkable deposits from savings deposits in which accessed could be delayed for a period of "time," and not on "demand." Hence the complementary term for savings deposits is time deposits.
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POLITICAL ENTREPRENEURS Election seeking politicians who undertake risks inherent in the allocation of resources made through government actions. Like business entrepreneurs, political entrepreneurs take risks and organize production. They organize production with government laws, regulations, and policies. They run the risk of failed policies and losing elections. Their utility-maximizing actions are also a prime source of government failure. Falling victim to the principal-agent problem, pursuit of their own satisfaction (winning elections) often conflicts with what is best for the rest of society.
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On a typical day, the United States Mint produces over $1 million worth of dimes.
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"There is no twilight zone of honesty in business. A thing is right or it's wrong. It's black or it's white. " -- John F. Dodge, automaker
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SIB
Securities and Investment Board
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