A business term used to describe how a free-market economy balances itself after extreme events run their course like a rising stocks after a recession or the real estate bubble burst. The word crossed over into everyday use to similarly describe when one's fortune or luck changes, for bad or good, changing the course of daily life.
BAD:
Bob: Last summer I was was nailing babes left and right. Now that I'm back at college...nothing!
Pete: Ah, well, you're not that attractive or interesting. You just had a lucky streak. You were due for a market correction. Consider yourself forntunate if any girl even talks to you, bro!
GOOD:
Pete: I was just promoted at work! I've been wasting my talents there for WEEKS, but the VP just quit and they promoted me to replace him. Guess I was due for a market correction, huh? How's the girl situation, Bob?
A system where workers collectively own the means of production, and compete in a market free of capitalists. The Bourgeoise and Proletariat merge into one class.
A shit school full of gays and snowflakes, your more likely to get raped by an emo there than do any learning, you get put in iso for doin fuck all and all the teachers stink of shit. The only good bit is the trips but the cunts even make you pay £600 more than they pay, wank place full of absolute cunts.