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NOBEL PRIZE IN ECONOMIC SCIENCES: An award given annually since 1969 to an economist or scholar in recognition of a major contribution to the study of economics. It was established by the Bank of Sweden and is annually awarded by the Royal Swedish Academy of Sciences in Stockholm. The official name of the award is The Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel. It is the only Nobel Prize awarded for a social science. The first Nobel Prize in Economic Sciences was awarded in 1969 to Ragnar Frisch and Jan Tinbergen.
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RATIONAL BEHAVIOR The notion that people make decisions based on the desire to obtain the greatest amount of satisfaction. Rational behavior essentially means that people prefer more to less. The presumption of rational behavior underlies most economic analysis, especially that applied to consumer demand theory.
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BLUE PLACIDOLA
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Today, you are likely to spend a great deal of time waiting for visits from door-to-door solicitors trying to buy either a wall poster commemorating last Friday (you know why) or a country wreathe. Be on the lookout for strangers with large satchels of used undergarments.
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The standard "debt" notation I.O.U. does not mean "I owe you," but actually stands for "I owe unto..."
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"A stumble may prevent a fall. " -- Margaret Thatcher, British prime minister
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BOJ
Bank of Japan
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