by Picopa August 31, 2013
Get the Interested mug.A special interest group is a large caucus of really excited people. They are always trying to get everybody all worked up over some specific issue. Sometimes they vote for candidates that they all like at the same time.
by MultiFest October 5, 2017
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usually something that may be interesting, provided the deliverer of the comment ACTUALLY bothers to elaborate as opposed to leave it as an open-ended comment...
by The Great Soprendo January 10, 2009
Get the thats interesting mug.title of book by John Maynard Keynes (1883-1946) outlining the general concept of Keynesian economics. The book was published in 1936.
*Context*
______________________________
Prior to the Great Depression, opinions about how to properly manage the economy were dominated by Neoclassical economics, which advocated little government intervention. In particular, unemployment was regarded as the consequence of workers failing to accept wages sufficiently low to permit full employment.
During the Great Depression, unemployment soared to 25% in the USA and Germany. Economics had no advice to give to leaders anxious to do something, and none of the neoclassical predictions were coming true. The government of the UK commissioned J.M. Keynes to lead a commission of top British economists in a general review of economic theory; their finding were summarized by Keynes in *The General Theory*.
*The Findings*
______________________________
The Cambridge team did not have access to statistics of national income and product accounting (NIPA). They did have some data on unemployment and prices, especially from the USA.
Keynes also identified several inherent logical problems with neoclassical economic theory about saving and investment. The theory said that all economic output of an economy would tend to be consumed; all saving would be invested; and all workers would be employed, *provided wages fell low enough*.
Keynes noted the economic mechanism by which investment occurs has little to do with the existing rate of saving; both are influenced by interest rates, but other forces come into play (e.g., liquidity preference for saving, business opportunities and user cost for investment). Hence, aggregate demand can drift very far out of alignment with output (or potential output).
Another finding was that employment rates actually did not respond in a predictable way to the fall in wages. The US economy suffered periods when a reduction in the wage level lead to increases in employment, despite the assumption that workers would have withdrawn from the labor market.
Finally, Keynes proposed the use of monetary policy and fiscal policy for regulating business cycles.
*Context*
______________________________
Prior to the Great Depression, opinions about how to properly manage the economy were dominated by Neoclassical economics, which advocated little government intervention. In particular, unemployment was regarded as the consequence of workers failing to accept wages sufficiently low to permit full employment.
During the Great Depression, unemployment soared to 25% in the USA and Germany. Economics had no advice to give to leaders anxious to do something, and none of the neoclassical predictions were coming true. The government of the UK commissioned J.M. Keynes to lead a commission of top British economists in a general review of economic theory; their finding were summarized by Keynes in *The General Theory*.
*The Findings*
______________________________
The Cambridge team did not have access to statistics of national income and product accounting (NIPA). They did have some data on unemployment and prices, especially from the USA.
Keynes also identified several inherent logical problems with neoclassical economic theory about saving and investment. The theory said that all economic output of an economy would tend to be consumed; all saving would be invested; and all workers would be employed, *provided wages fell low enough*.
Keynes noted the economic mechanism by which investment occurs has little to do with the existing rate of saving; both are influenced by interest rates, but other forces come into play (e.g., liquidity preference for saving, business opportunities and user cost for investment). Hence, aggregate demand can drift very far out of alignment with output (or potential output).
Another finding was that employment rates actually did not respond in a predictable way to the fall in wages. The US economy suffered periods when a reduction in the wage level lead to increases in employment, despite the assumption that workers would have withdrawn from the labor market.
Finally, Keynes proposed the use of monetary policy and fiscal policy for regulating business cycles.
The *The General Theory of Employment, Interest, and Money* completely shook up the world of economic policy. Hereafter, governments took responsibility for economic conditions or they lost power.
by Abu Yahya March 3, 2009
Get the The General Theory of Employment, Interest, and Money mug.A word to use when trying to define someone you are interested in. She is not your girlfriend and she is not a friend...she is someone you are interested in.
by GuzK February 22, 2011
Get the Girl of Interest (GOI) mug.A secretly fancy and pretentious area of Miami, Florida. It became a "township" out of nothing about 5 years ago for no apparent reason. This glorious transformation was marked by the razing of the former "peasant" houses that dotted the landscape, and the construction of insane amounts of mansions. Also, they made everyone plant a bunch of trees. Pinecrest is fancier than anyplace else, simply because it is Pinecrest. People in Pinecrest are mandated to end their most pretentious sentences with the phrase "Mmm-yes" to symbolize their elitism.
1) Guy 1: Dude, why are the friggin roads in pinecrest so confusing and squiggly.
Guy 2: To keep the poor people away.
2) Guy: Yes, i'm from pinecrest. You can tell because there's a pond in my aviary.
Guy 2: To keep the poor people away.
2) Guy: Yes, i'm from pinecrest. You can tell because there's a pond in my aviary.
by Zolem April 16, 2008
Get the pinecrest mug.The act of being completely immersed in viewing Pinterest posts, an activity which can take hours.
verb, past tense Pinterested
verb, past tense Pinterested
Go ahead and order take-out, honey. I'm too busy Pinteresting these really amazing meal recipes.
Your Honor, I was Pinteresting, so it couldn't possibly have been me.
You know better than to bother mommy while she's Pinteresting!
Your Honor, I was Pinteresting, so it couldn't possibly have been me.
You know better than to bother mommy while she's Pinteresting!
by ils_angel December 13, 2012
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