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LEVERAGED BUYOUT: A method of corporate takeover or merger popularized in the 1980s in which the controlling interest in a company's corporate stock was purchased using a substantial fraction of borrowed funds. These takeovers were, as the financial-types say, heavily leveraged. The person or company doing the "taking over" used very little of their own money and borrowed the rest, often by issuing extremely risky, but high interest, "junk" bonds. These bonds were high-risk, and thus paid a high interest rate, because little or nothing backed them up.
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GAINS FROM TRADE The combination of consumer surplus and producer surplus obtained by buyers and sellers when engaging in a market exchange. Gains from trade arise because buyers are typically willing and able to pay a higher price to purchase a good than what they end up paying and because sellers are typically willing and able to accept a lower price to sell a good than what they end up receiving. Both sides of the market exchange are thus better off, have a net gain in welfare, by making the trade. While all types of market exchanges generate gains from trade, this topic is perhaps most important for an understanding of international trade.
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GREEN LOGIGUIN
[What's This?]
Today, you are likely to spend a great deal of time looking for a downtown retail store hoping to buy either an extra large beach blanket or a large flower pot shaped like a Greek urn. Be on the lookout for letters from the Internal Revenue Service.
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This isn't me! What am I?
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Al Capone's business card said he was a used furniture dealer.
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"Whatever course you decide upon, there is always someone to tell you that you are wrong. There are always difficulties arising which tempt you to believe that your critics are right. To map out a course of action and follow it to an end requires...courage." -- Ralph Waldo Emerson
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CPI
Consumer Price Index
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