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KEYNESIAN ECONOMICS: A school of thought developed by John Maynard Keynes built on the proposition that aggregate demand is the primary source of business cycle instability, especially recessions. The basic structure of Keynesian economics was initially presented in Keynes' book The General Theory of Employment, Interest, and Money, published in 1936. For the next forty years, the Keynesian school dominated the economics discipline and reached a pinnacle as a guide for federal government policy in the 1960s. It fell out of favor in the 1970s and 1980s, as monetarism, neoclassical economics, supply-side economics, and rational expectations became more widely accepted, but it still has a strong following in the academic and policy-making arenas.
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CONFERENCE BOARD, THE A private, non-profit, global organization established in 1916 that collects and distributes economic data to assist consumers, business leaders, and government policy makers in their economic decisions. The Conference Board is responsible for compiling the leading, coincident, and lagging economic indicators that are used to track business-cycle activity as well as the widely publicized Consumer Confidence Index. The Conference Board also convenes numerous conferences each year that provide forums to discuss and analyze pressing economic issues.
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YELLOW CHIPPEROON
[What's This?]
Today, you are likely to spend a great deal of time strolling through a department store trying to buy either a turbo-powered vacuum cleaner or a battery-powered, rechargeable vacuum cleaner. Be on the lookout for slow moving vehicles with darkened windows.
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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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"Rowing harder doesn't help if the boat is headed in the wrong direction. " -- Kenichi Ohmae, management consultant
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DARA
Decreasing Absolute Risk Aversion
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