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PATERNALISM: A fundamental philosophical viewpoint that the private sector (households and businesses) needs to be watched over--like a parent--by the public sector (government). In other words, members of society need to be watched over, cared for, and kept out of trouble, like parents watch over, care for, and keep their children out of trouble. This philosophy of paternalism should be contrasted directly with the philosophy of laissez faire, which essentially says "Hey, we're all grown ups here, we can make our own decisions."
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AGGREGATE DEMAND AND MARKET DEMAND The aggregate demand curve, or AD curve, has similarities to, but differences from, the standard market demand curve. Both are negatively sloped. Both relate price and quantity. However, the market demand curve is negatively sloped because of the income and substitution effects and the aggregate demand curve is negatively sloped because of the real-balance, interest-rate, and net-export effects.
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GREEN LOGIGUIN
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Today, you are likely to spend a great deal of time going from convenience store to convenience store wanting to buy either a lazy Susan for you dining room table or a set of serrated steak knives, with durable plastic handles. Be on the lookout for pencil sharpeners with an attitude.
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Okun's Law posits that the unemployment rate increases by 1% for every 2% gap between real GDP and full-employment real GDP.
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"When your values are clear to you, making decisions becomes easier. " -- Roy Disney, executive
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AIO
Action Information Organization
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