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FEATHERBEDDING: A labor union practice of artificially increasing the number of workers employed even though the specific job or task can be completed with fewer workers. This can be done mandating that specific jobs be performed only by workers with specific skill levels or be mandating that a certain number of workers are needed to perform a job or task. By increasing the demand for workers, featherbedding also keeps wages higher.
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THREE-SECTOR INJECTIONS-LEAKAGES MODEL A variation of the Keynesian injections-leakages model that includes the three domestic sectors--the household sector, the business sector, and the government sector. This model provides an alternative to the three-sector aggregate expenditures (Keynesian cross) analysis of government stabilization policies, especially how fiscal policy changes in government purchases and taxes can be used to close recessionary gaps and inflationary gaps. Equilibrium is identified as the intersection between the S + T line and the I + G line. Two related variations are the two-sector injections-leakages model and the four-sector injections-leakages model.
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BLUE PLACIDOLA
[What's This?]
Today, you are likely to spend a great deal of time looking for the new strip mall out on the highway looking to buy either blue cotton balls or a genuine down-filled pillow. Be on the lookout for slow moving vehicles with darkened windows.
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Three-forths of the gold mined each year is used to manufacture jewelry.
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"Good plans shape good decisions. That's why good planning helps to make elusive dreams come true." -- Lester Bittle, Author
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JPE
Journal of Political Economy
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