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AEA: The abbreviation for, the American Economic Association, an organization of over 25,000 professional economists. Founded in 1885, this premier top-of-the-economic-association-list publishes the prestigious American Economic Review, arguably THE number one scholarly U.S. economic journal and the Journal of Economic Literature, arguably THE number one index of economic journal publications. The AEA, as acronymically inclined economists call it, also sponsors an annual conference where professional economists present scholarly papers on their latest scholarly research.
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ADVERSE SELECTION An inefficient, bad, or adverse outcome of a market exchange that results because buyers and/or sellers make decisions based on asymmetric information. This commonly results in a market that exchanges a lesser quality good, what is termed the market for lemons. Two related problems resulting from asymmetric information are moral hazard and the principal-agent problem. Two methods of lessoning the problem of adverse selection are signalling and screening.
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Scraping Up The POLLUTIONOne of Shady Valley's featured factories is Mona Mallard's Duct Tape Industries. It's the world's leading producer of duct tape -- that shiny, seemingly omnipresent, cloth-like tape that's used for everything EXCEPT ventilation ducts. Mona Mallard's Duct Tape Industries also employs thousands of voting, taxpaying Shady Valley residents. The amount of campaign money, legal and otherwise, contributed by Mona Mallard herself to Shady Valley politicians is, well, incalculable. All of this means that our little pedestrian exploration through the backlot dumping ground of Mona Mallard's Duct Tape Industries main production plant puts us on very, VERY sensitive turf. The reason, of course, is that the duct tape plant has been discarding sticky, toxic, gooey junk onto the ground. This is a potentially hazardous situation, not only because this sticky, toxic, gooey junk appears to be leaking into the Shady Valley River, but because a Mona Mallard's Duct Tape Industries security guard is headed in our direction. Rather than confront this guard, I suggest we spend our time exploring the problems of pollution. RUN!
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YELLOW CHIPPEROON
[What's This?]
Today, you are likely to spend a great deal of time browsing through a long list of dot com websites trying to buy either a T-shirt commemorating next Thursday or a birthday gift for your uncle. Be on the lookout for a thesaurus filled with typos.
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This isn't me! What am I?
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Okun's Law posits that the unemployment rate increases by 1% for every 2% gap between real GDP and full-employment real GDP.
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"The art of leadership is saying no, not yes. It is very easy to say yes. " -- Tony Blair, British prime minister
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AAXICO
American Air Export and Import Company
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