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A POSTERIORI: A conclusion reached through logical reasoning based on facts and observations about the real world. This notion is closely related to the scientific verification of hypotheses and the identification of principles. A similar sounding, but opposite term is a prior, which is a unverified presumption made before an analysis is undertaken. For example, in the study of economics of crime you might assume, a priori, that people are basically "good", and conclude, a posteriori, that people are more likely to commit crimes when the threat of capture and conviction is lower.
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POLITICAL BUSINESS CYCLES The notion that business cycles are caused by elected government leaders who manipulate the economy to achieve personal political goals, that is, to be re-elected and remain in office. The leaders stimulate the economy leading up to an election, creating a business-cycle expansion that ensures (they hope) re-election, they then induce a business-cycle contraction after the election to correct problems created by the pre-election stimulation. This explanation suggests that government is the source of business cycles are should not be allowed to implement discretionary stabilization policies.
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PURPLE SMARPHIN
[What's This?]
Today, you are likely to spend a great deal of time wandering around the shopping mall hoping to buy either a pair of blue silicon oven mitts or a coffee cup commemorating the 2000 Olympics. Be on the lookout for spoiled cheese hiding under your bed hatching conspiracies against humanity.
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On a typical day, the United States Mint produces over $1 million worth of dimes.
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"Try not to become a man of success, but rather try to become a man of value. " -- Albert Einstein
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SFA
Securities and Futures Authority (UK)
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