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July 8, 2025 

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GOLDSMITH MONEY CREATION: An illustration of the basic money creation process undertaken by banks using the hypothetical activities of a hypothetical goldsmith. The goldsmith profession of Medieval Europe provides insight into the modern banking business, including the seemingly magical ability of banks to create valuable money out of inputs with significantly less value.

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SUNSET LAW: A policy proposed to address some of the inefficiency of government bureaucracies by imposing a fixed termination date on government programs and policies. The program or policy then automatically ends when it reaches this date unless action is take to extended its existence. This action would likely generate discussion and debate over the usefulness of the program or policy. If it remains beneficial, it is renewed. If not, it disappears.

     See also | public choice | term limits | line item veto | logrolling | explicit logrolling | majority rule | super majority rule | unanimity rule | plurality rule | Tiebout hypothesis | principal-agent problem | principle of the median voter |


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SUNSET LAW, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2025. [Accessed: July 8, 2025].


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PERFECT COMPETITION, CHARACTERISTICS

The four key characteristics of perfect competition are: (1) a large number of small firms, (2) identical products sold by all firms, (3) perfect resource mobility or the freedom of entry into and exit out of the industry, and (4) perfect knowledge of prices and technology.

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APLS

GREEN LOGIGUIN
[What's This?]

Today, you are likely to spend a great deal of time browsing about a thrift store hoping to buy either semi-gloss photo paper that works with your neighbor's printer or a birthday gift for your father that doesn't look like every other birthday gift for your father. Be on the lookout for the last item on a shelf.
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Post WWI induced hyperinflation in German in the early 1900s raised prices by 726 million times from 1918 to 1923.
"Progress always involves risk. You can't steal second base and keep your foot on first. "

-- Frederick B. Wilcox

BIF
Bank Insurance Fund
A PEDestrian's Guide
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