Ralph: Dude, the feds just lowered interest rates and backed a takeover of a large investment bank after acknowledging that we might be in a recession.
Ted: This recession's been going on since Bush took over. How long until we call it an economic depression?
Ted: This recession's been going on since Bush took over. How long until we call it an economic depression?
by Kate Sjostrand March 21, 2008
Get the economic depression mug.It's how the crowd has named the "Ecce Homo" that Cecilia, an octogenarian woman, restored freestyle in a church from Zaragoza, Spain. "Ecce Mono" means "Ecce Monkey" in spanish, and it refers to the resemblance to a monkey the picture had after her intervention. The artist Cecilia really meant no harm and now has a lot of fans who love her around the world.
by Ratamandra August 23, 2012
Get the Ecce Mono mug.*noun*; generic term for economic thought developed from 1776 to 1930, which assumed the following basic concepts:
1. all types of goods, including factors of production, can be efficiently traded in markets;
2. given free markets, all goods available for purchase will, in fact, be purchased (including labor);
3. free markets include unlimited ability of prices of commodities to move upwards or downward to ensure the quantity supplied matches the quantity demanded.
*Subdivisions*
Adam Smith (1723-1790), auther of *The Wealth of Nations* (1776) is usually credited with compiling the critical ideas into a single theory.
Some historians regard the classical era as really beginning after 1817, with the work of David Ricardo (1772-1823) and Nassau Senior (1790-1864). Ricardo and David developed the concept of diminishing marginal utility to explain the idea of factor cost, and ultimately, market equilibrium.
After 1870, however, classical economics experienced the marginal revolution, in which the field adopted a much more systematic approach to addressing major research questions.
As a result of the Great Depression (1929-1939), classical economics generally faded from view until the late 1970's. At this time, the rational expectations hypothesis and real business cycle theory were refined in order to address problems that had crippled classical economics in the 1920's.
Textbooks addressing classical economic research since 1964 usually call it "New Classical economics." From 1982 to 2006, nearly all Nobel prizes in economics were awarded to New Classical economics such as
George Stigler, Ronald Coase, Robert Lucas Jr., Edward Prescott, and Edmund Phelps.
1. all types of goods, including factors of production, can be efficiently traded in markets;
2. given free markets, all goods available for purchase will, in fact, be purchased (including labor);
3. free markets include unlimited ability of prices of commodities to move upwards or downward to ensure the quantity supplied matches the quantity demanded.
*Subdivisions*
Adam Smith (1723-1790), auther of *The Wealth of Nations* (1776) is usually credited with compiling the critical ideas into a single theory.
Some historians regard the classical era as really beginning after 1817, with the work of David Ricardo (1772-1823) and Nassau Senior (1790-1864). Ricardo and David developed the concept of diminishing marginal utility to explain the idea of factor cost, and ultimately, market equilibrium.
After 1870, however, classical economics experienced the marginal revolution, in which the field adopted a much more systematic approach to addressing major research questions.
As a result of the Great Depression (1929-1939), classical economics generally faded from view until the late 1970's. At this time, the rational expectations hypothesis and real business cycle theory were refined in order to address problems that had crippled classical economics in the 1920's.
Textbooks addressing classical economic research since 1964 usually call it "New Classical economics." From 1982 to 2006, nearly all Nobel prizes in economics were awarded to New Classical economics such as
George Stigler, Ronald Coase, Robert Lucas Jr., Edward Prescott, and Edmund Phelps.
Proponents of classical economics are nearly always extremely conservative in their political views, and usually conclude that the sole legitimate role of the state is to defend property rights.
by Abu Yahya March 3, 2009
Get the classical economics mug.A semi-derogatory video homage to the Great Solar Eclipse of 2017; the reenactment using an unshorn scrotum to ever-so-slowly eclipse the sun rather than the moon.
Oh, for fuck sake...I totally got baited into watching yet another 'eclipse moment'...except this time it was a total scrotal eclipse...no filter can remove THAT afterimage from my brain. Good feeling...gone.
by YAWA August 24, 2017
Get the Total scrotal eclipse mug.by Geoff L. August 30, 2005
Get the Echo and the Bunnymen mug.The conflicting emotions one faces when one discovers that they have been terminated. First is a feeling of euphoria then dread, then mixed emotions that cycle frequently.
"John, you're fired you jackass!"
(John smiles a crooked smile)
"What's wrong with you John?"
"Unemployment ecstasy despair, boss"
(John smiles a crooked smile)
"What's wrong with you John?"
"Unemployment ecstasy despair, boss"
by Cirdellin January 5, 2010
Get the Unemployment ecstasy despair mug.(D.E.F.) That amazing sound that your ass projects against the toilet bowl when you have a backed up shit waiting to immensely emerge from your balloon knot worm hole.
I was sitting on the toilet and almost busted my ear drums from the sound of my diarrhea echo fart hitting the toilet bowl.
by B-Ha Flows December 29, 2011
Get the Diarrhea Echo Fart mug.