economic democracy

A socioeconomic philosophy that seeks to equalize decision-making power by giving ownership of businesses to the workers that run them. Allegedly, this will even out the distribution of wealth by shifting power from the minority (corporations) and put it in the hands of the majority (the people). Society will then democratically be able to choose the level of resources allocated to businesses.

Here is a link to an informative article explaining economic democracy in more depth, check it out!
www.luc.edu/faculty/dschwei/economicdemocracy.pdf

by peacetothepeople May 17, 2016

economic profit

The concept of settling down with a girl over the winter months in order to save money and avoid going out on those cold nights.

"So mate, have you found yourself any economic profit yet?"

by doing the dishes May 25, 2016

Hummus Economy

The hummus economy cynically refers to the economic situation in Lebanon, the country where hummus originated.

The hummus economy consists of the successive poor leadership that took Lebanon to an unparalleled economic recession that surged between 2019 and 2020. It has resulted from corruption and incompetence in the absence of the rule of law.

The expression insinuates amateurship in managing Lebanon where leaders have been historically busy by shallow matters distracting the Lebanese from what matters when it comes to inclusive and sustainable growth.

Q: What economic model fits Lebanon in recent years?
A: The economy in Lebanon is intricate and peculiar: one could call it the hummus economy.

El Hokayem, J., and Abou Jaoude, J. (2020), Leading by misleading in the hummus economy, Annahar.

by JHRLY October 26, 2020

Econometrics

Economics with shit load of linear algebra , if you are at college avoid it at all costs.

Man, she majored in Econometrics. She must be a really clever bitch

by George February 20, 2004

The Economist Magazine

A British Magazine founded in 1848. It is a weekly that provides it's readers news of World Politics, recent advances in science, ect. It is set up in 16 parts, The World this Week, Leaders, Letters, Briefing of a major topic, United States, The Americas, Asia, Middle East and Africa, Europe, Britain, International, Business, Finance and Economics, another briefing,science and Technology, Books and Arts, Economic and Financial Indicators, and Obituary. Every once and a while there is also a 14 to 18 page section on a specific topic, and quarterly some articles from a sister magazine, Intelligent Life.

Many Political and Economic leaders read The Economist Magazine.

by Dasichferbotten October 31, 2011

In This [Economy]...

a preface or tag line used to mollify or quantify any ridiculous or unscrupulous action or statement

yeah i shoplifted some gum earlier today, but you know In This Economy...

In This Economy...who bothers to shower anyway.

by Chucky G March 12, 2009

Booze economy

The idea of buying drink that provides the most alcohol for the lowest price

That beer looks quite nice, but wine is way better booze economy

by Gavin Spiller June 15, 2007