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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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AUTONOMOUS INVESTMENT Business investment expenditures that do not depend on income or production (especially national income or even gross domestic product). That is, changes in income do not generate changes in investment. Autonomous investment is best thought of as investment that the business sector undertakes regardless of the state of the economy. It is measured by the intercept term of the investment line. The alternative to autonomous investment is induced investment, which does depend on income.
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GRAY SKITTERY
[What's This?]
Today, you are likely to spend a great deal of time at the confiscated property police auction wanting to buy either a replacement remote control for your stereo system or a computer that can play video games and burn DVDs. Be on the lookout for gnomes hiding in cypress trees.
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This isn't me! What am I?
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The average bank teller loses about $250 every year.
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"How we spend our days is, of course, how we spend our lives. " -- Annie Dillard, essayist
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DCF
Discounted Cash Flow
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