Skinny J Keynes's definitions
The science and study of production, distribution, and consumption of life in the ghetto. Ghettonomics is characterized by low savings rates, high aggregate demand for marginal goods, and high leverage ratios. Since many goods consumed are marginal luxury items, the price elasticity of demand is described as approx. -2^x as it is near constant until reach a tipping point.
by Skinny J Keynes July 10, 2009
Get the ghettonomicsmug.