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INSIDER TRADING: The buying and selling of corporate stock or other financial instruments based on knowledge that is not widely available to the general public. Insider trading is most often undertaken by corporate executives or directors using information that they have acquired by working "inside" the company. Insider trading is illegal because it gives an unfair advantage to those on the inside. The president of a pharmaceutical company might be inclined to sell stock in the company using advanced information that the government is about to decline the patent application for a new drug.
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MEDIAN VOTER PRINCIPLE A public choice principle stating that the median voter, the voter with an equal number of votes on either side, determines the outcome of an election by determining which side receives the majority. The preferences of this median vote, thus become the most important preferences addressed by candidates running for election. However, the median voter's preferences might not generate was is best, that is, efficient, for society. Other related voting problems identified by the study of public choice includes the voting paradox, logrolling, and voter apathy (due to rational ignorance and rational abstention).
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PINK FADFLY
[What's This?]
Today, you are likely to spend a great deal of time surfing the Internet wanting to buy either a replacement remote control for your television or a replacement nozzle for your shower. Be on the lookout for cardboard boxes.
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Much of the $15 million used by the United States to finance the Louisiana Purchase from France was borrowed from European banks.
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"My future starts when I wake up every morning . . . Every day I find something creative to do with my life. " -- Miles Davis, musician
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FX
Foreign Exchange
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