Definitions by abu yahya

distributional efficiency

In the social sciences, refers to the effectiveness with which a social benefit reaches its intended beneficiaries. When most of the cost of a particular social good is absorbed by intermediaries, such as scalpers and profiteers, distributional efficiency is low.

The state-owned auditorium hands out a fixed number of free tickets to students to promote the arts, but nearly all of them sell the tickets to scalpers for the money. It's very poor distributional efficiency.

distributional efficiency by abu yahya June 23, 2008

economic efficiency 

The ability of an economic system to provide what people what, given their incomes. Given the fact that incomes and resources are both finite, efficiency will be of the utmost importance in determining if people's wants are satisfied by the workings of the economic system.

Free market economies usually provide high levels of economic efficiency.

economic efficiency by abu yahya June 23, 2008

CGD crisis 

Stands for "currency-growth-debt" crisis. Climax of a CGD trap; the most famous example was Argentina in 2002.

The Suez Canal fell under British and French control as a result of Ismail Pasha's CGD crisis.

CGD crisis by abu yahya June 23, 2008