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June 27, 2026 

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HISTORICAL COST: An accounting principle stating that expenses are recorded in terms of original or acquisition cost. Such a practice does not necessarily indicate the opportunity cost or current market value.

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CETERIS PARIBUS

A Latin term meaning that other factors remain unchanged. Ceteris paribus is commonly used as an assumption when conducting a wide variety of economic analyses. By holding everything else constant, the ceteris paribus assumption makes it possible to identify the cause-and-effect relation between two factors. Relaxing the ceteris paribus assumption is the primary analytical technique used in the comparative statics study of economics.

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Fact 6: Our Unknown Economy

Dr. Nova Cain, DDS, has her office in the mini-mall just north of city hall. You know the sort of mini-mall. It has a branch of Interstate OmniBank, Smilin' Ted's All-Comers Insurance Agency, an auto parts store, a branch of the public library, and four chiropractors.

Dr. Cain's location near the Shady Valley City Hall is most fortunate. One of my back molars is beginning to shoot sharp pains through my eyeball, into my brain, and out the back of my head. I've been meaning to stop by for a cleaning and check up, but, well, the thought of sharp needles and high-speed drills grinding away large portions of my teeth convinced me that other activities were more important.

Now, however, just as we're trying to trek through the complexities of the economy, that back molar has decided to throb incessantly. It's best if I stop in and let the kind and (hopefully) gentle Dr. Cain check it out.

Guess what? ROOT CANAL!
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BLUE PLACIDOLA
[What's This?]

Today, you are likely to spend a great deal of time driving to a factory outlet looking to buy either a flower arrangement in a coffee cup for your father or a how-to book on meeting people. Be on the lookout for bottles of barbeque sauce that act TOO innocent.
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This isn't me! What am I?

Lewis Carroll, the author of Alice in Wonderland, was the pseudonym of Charles Dodgson, an accomplished mathematician and economist.
"It is very rare that you meet with obstacles in this world (that) the humblest man has not the faculties to surmount. "

-- Henry David Thoreau, philosopher

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