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September 16, 2026 

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CAPITAL: One of the four basic categories of resources, or factors of production. It includes the manufactured (or previously produced) resources used to manufacture or produce other things. Common examples of capital are the factories, buildings, trucks, tools, machinery, and equipment used by businesses in their productive pursuits. Capital's primary role in the economy is to improve the productivity of labor as it transforms the natural resources of land into wants-and-needs-satisfying goods.

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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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BROWN PRAGMATOX
[What's This?]

Today, you are likely to spend a great deal of time at the confiscated property police auction wanting to buy either clothing for your pet iguana or a set of hubcaps. Be on the lookout for the last item on a shelf.
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This isn't me! What am I?

Al Capone's business card said he was a used furniture dealer.
"Believe one who has tried it. "

-- Virgil, Roman poet

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