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NATIONALIZATION: The process of a national government taking over the ownership of a private business or industry, usually in conjunction with a major revolution that establishes a communistic or socialist command economy. Nationalization was a common practice, sort of a fad, during the 1950s,1960s, and 1970s. Even non-revolutionary industrialized countries in Europe jumped onto the nationalization bandwagon. The United States also took at stab at nationalizing passenger train service when Amtrak was established in 1970.
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AGGREGATE SUPPLY DECREASE, LONG-RUN AGGREGATE MARKET A shock to the long-run aggregate market caused by a decrease in aggregate supply, resulting in and illustrated by a leftward shift of the long-run aggregate supply curve. A decrease in aggregate supply in the long-run aggregate market results in an increase in the price level and a decrease in real production. The level of real production resulting from the shock is a smaller level of full-employment real production.
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PINK FADFLY
[What's This?]
Today, you are likely to spend a great deal of time at a garage sale wanting to buy either high-gloss photo paper that works with your printer or a desktop calendar with all federal and state holidays highlighted. Be on the lookout for bottles of barbeque sauce that act TOO innocent.
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In his older years, Andrew Carnegie seldom carried money because he was offended by its sight and touch.
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"The true idealist pursues what his heart says is right in a way that his head says will work. " -- Richard Nixon, 37th US president
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UNCTAD
United Nations Conference on Trade and Development
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