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WEALTH PYRAMID: A handy technique that many get-rich-quick schemes use to transfer a little wealth from a lot of people into the overflowing pockets of a few. In works in this manner--A person or business establishes a multi-level pyramid of investors, employees, or "distributors." Each level is responsible for recruiting the next level beneath it. The trick is that each distributor at one level recruits several distributors into the next lower level in an ever-expanding fashion. Each recruit transfers a little, teeny, tiny bit of their own wealth to the next higher level. In that each higher level has fewer members, that little, teeny, tiny bit of wealth accumulates rapidly, making those at the top incredibly well-off.
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SELF CORRECTION, AGGREGATE MARKET The automatic process in which the aggregate market adjusts from short-run equilibrium to long-run equilibrium. Self-correction results through shifts of the short-run aggregate supply curve caused by changes in wages (and other resource prices). The self-correction mechanism acts to close both recessionary gaps and inflationary gaps. The short-run aggregate supply curve increases (shifts rightward) due to lower wages to close a recessionary gap and decreases (shifts leftward) due to higher wages to close an inflationary gap.
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BEIGE MUNDORTLE
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Today, you are likely to spend a great deal of time looking for the new strip mall out on the highway seeking to buy either a flower arrangement for your aunt or a birthday greeting card for your uncle. Be on the lookout for bottles of barbeque sauce that act TOO innocent.
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The earliest known use of paper currency was about 1270 in China during the rule of Kubla Khan.
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"It is the mark of an educated mind to be able to entertain a thought without accepting it." -- Aristotle
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NYMEX
New York Mercantile Exchange
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