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THE GENERAL THEORY: The common name for the book, The General Theory of Employment, Interest, and Money, by John Maynard Keynes. This work laid the theoretical foundations for the modern study of macroeconomics and the specific analysis that has come to be known as Keynesian economics. Published in 1936 during the depths of the Great Depression, The General Theory provided both a theoretical explanation for the cause of the depression and recommendations for policies to correct the problems. It was THE textbook for the serious study of macroeconomics for almost four decades.
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VALUE IN USE The satisfaction of wants and needs provided by the direct consumption of goods and services. Acquiring value from the use of goods and services is really the ultimate goal of economic activity. It is the final step in the production, allocation, and consumption activities that are undertaken to address the fundamental problem of scarcity. Value in use should be contrasted with the similar phrase, value in exchange.
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The first "Black Friday" on record, a friday marked by a major financial catastrophe, occurred on September 24, 1869 -- A FRIDAY -- when an attempted cornering of the gold market induced a financial crises and economy-wide depression.
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"We should never allow ourselves to be bullied by an either-or. There is often the possibility of something better than either of those two alternatives. " -- Mary Parker Follett, management coach
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AMEX
American Stock Exchange
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