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FINANCIAL MARKETS: A market that trades financial assets. Financial assets are the legal claims on the real assets in our economy and include such notable items as corporate stocks and bonds, government securities, and money. Without financial markets our economy would find it almost impossible to accumulate the funds needed for investment in big, expensive capital projects.
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PARADOX OF THRIFT The notion that an increase in saving, which is generally good advice for an individual during bad economic times, can actually worsen the macroeconomy causing a reduction in aggregate income, production, and paradoxically a decrease in saving. The paradox of thrift is an example of the fallacy of composition stating that what is true for the part is not necessarily true for the whole.
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Paper money used by the Commonwealth of Massachusetts prior to the U.S. Revolutionary War, which was issued against the dictates of Britain, was designed by patriot and silversmith, Paul Revere.
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"To succeed you need to find something to hold on to, something to motivate you, something to inspire you." -- Tony Dorsett, Football player
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SSRN
Social Science Research Network
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