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HOSTILE TAKEOVER: In the world of mergers, the acquisition of one company by another against the wishes of the company being acquired. Also termed a hostile acquisition, this is accomplished by purchasing controlling interest in the stock of the acquired company, usually by offering to pay a price exceeding the current market price. A hostile takeover might be motivated to eliminate competition, to sell off the assets of the company for more that the takeover payment, or to temporarily inflate the price of the stock.
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ABSTRACTION Simplifying the complexities of the real world by ignoring (hopefully) unimportant details while doing economic analysis. Abstraction is an essential feature of the scientific method. Hypothesis verification, model construction, and comparative static analysis are not possible without abstraction.
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Today, you are likely to spend a great deal of time at an auction wanting to buy either a coffee table shaped like the state of Florida or storage boxes for your summer clothes. Be on the lookout for attractive cable television service repair people.
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In the late 1800s and early 1900s, almost 2 million children were employed as factory workers.
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"Success is the child of audacity. " -- Benjamin Disraeli, British statesman
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