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MACROECONOMIC PROBLEMS: Undesirable situations that exist in the macroeconomy, largely because one or more of the macroeconomic goals are not satisfactorily attained. The primary problems are unemployment, inflation, and stagnant growth. Macroeconomic theories are designed to explain why these problems emerge and to recommend corrective policies.
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MARKET SOCIALISM A type of economy, or economic system, based on--(1) government, rather than individual, ownership of many resources, especially those like heavy manufacturing, energy reserves, widely used raw materials (lumber, steel), and transportation systems, that are deemed critical to the operation of the economy; (2) answering three questions of allocation with a combination of central planning by government and decentralized decision-making by individual factories and the owners of non-critical resources; (3) the limited use of markets to exchange farm products and retail consumer goods; (4) economic and monetary incentives, such as bonuses, paid to the workers of government-owned facilities to encourage efficiency and increased productivity.
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BLUE PLACIDOLA
[What's This?]
Today, you are likely to spend a great deal of time at the confiscated property police auction seeking to buy either looseleaf notebook paper or a three-hole paper punch. Be on the lookout for slow moving vehicles with darkened windows.
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Helping spur the U.S. industrial revolution, Thomas Edison patented nearly 1300 inventions, 300 of which came out of his Menlo Park "invention factory" during a four-year period.
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"Look at the abundance all around you as you go about your daily business. You have as much right to this abundance as any other living creature. It's yours for the asking." -- Earl Nightingale
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SAS
Statistical Analysis Software
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