*noun*; in Keynesian economics, the rate at which aggregate consumption rises in response to a rise in national income.
For example, suppose the marginal propensity to consume (MPC) is 0.95. If the national income is 100 billion dollars, and it rises 10%, then consumption will rise by 9.5 billion, and saving will rise by 0.5 billion.
If this theory is correct, then an expanding economy will suffer insufficient demand for its own output, and a recession will be inevitable.
This is why national governments respond to recessions with deficit spending: they are trying to counteract the MPC's effect on aggregate demand, and bring it in line with potential output.
For example, suppose the marginal propensity to consume (MPC) is 0.95. If the national income is 100 billion dollars, and it rises 10%, then consumption will rise by 9.5 billion, and saving will rise by 0.5 billion.
If this theory is correct, then an expanding economy will suffer insufficient demand for its own output, and a recession will be inevitable.
This is why national governments respond to recessions with deficit spending: they are trying to counteract the MPC's effect on aggregate demand, and bring it in line with potential output.
Not only is the marginal propensity to consume weaker in a wealthy community, but, owing to its accumulation of capital being already larger, the opportunities for further investment are less attractive...
J.M. Keynes, *The General Theory of Employment, Interest, and Money* (1936), Ch.3
J.M. Keynes, *The General Theory of Employment, Interest, and Money* (1936), Ch.3
by Abu Yahya March 3, 2009
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by a consumed child October 24, 2020
Get the consume the child mug.Constervation is 50% Conversation and 50% Consternation.
An encounter between two people where one has been an incredible dumb ass and needs told about it.
The Conversation part is monologue and delivered by the individual explaining it to the dumb ass.
The Consternation part is when you, "The Dumb Ass" (silent donkey is also acceptable) realize that what the individual delivering the monologue is explaining to your dumb ass is completely correct.
An encounter between two people where one has been an incredible dumb ass and needs told about it.
The Conversation part is monologue and delivered by the individual explaining it to the dumb ass.
The Consternation part is when you, "The Dumb Ass" (silent donkey is also acceptable) realize that what the individual delivering the monologue is explaining to your dumb ass is completely correct.
I had to have this constervation with you because of your failure to realize not just how badly you screwed the pooch but that you didn't realize it at all, dumb ass!
epiphany doh well shit had to be done dumb ass helpful hint buy a clue
epiphany doh well shit had to be done dumb ass helpful hint buy a clue
by CTBear July 5, 2014
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'Constera' is a music producer who is known for making 2 popular songs about some goblins. He frequently adds LGBT friendly soundclips in his songs, so he is very accepted in the squadW twitch community.
He sometimes streams on Twitch.tv where he W OMEGALUL ORKS in FL Studio(32 bit) and Vegas Pro, but he cant seem to concentrate because he has a lot of clip chimp viewers that spams links.
He is also known as "Concerta", "Cowstone", "Cornstera", "Constira", "Constipated" and much more, so he often gets misunderstood as medicine and other stuff that Pepega Twitch streamers make up.
Constera spends his freetime in his local snus club where he and his friends such as forsen discuss the varieties of snus while having a couple bags in their mouth.
He sometimes streams on Twitch.tv where he W OMEGALUL ORKS in FL Studio(32 bit) and Vegas Pro, but he cant seem to concentrate because he has a lot of clip chimp viewers that spams links.
He is also known as "Concerta", "Cowstone", "Cornstera", "Constira", "Constipated" and much more, so he often gets misunderstood as medicine and other stuff that Pepega Twitch streamers make up.
Constera spends his freetime in his local snus club where he and his friends such as forsen discuss the varieties of snus while having a couple bags in their mouth.
"Isnt Constera that Sup Yall guy?"
"I heard that Constipated made a new song, lets check it out dud"
"I heard that Constipated made a new song, lets check it out dud"
by KRISTOFFA October 25, 2019
Get the Constera mug.a term coined by Bruce Levine to describe the mindset of a group of people who "are singularly attached to cheap stuff."
The term describes a culture that "creates increasing material expectations" that often can not be satiated, "devalues human connectedness," "socializes people to be self-absorbed and selfish," "obliterates self-reliance," "alienates people from normal human emotional reactions" and "sells false hope that creates more pain."
The term describes a culture that "creates increasing material expectations" that often can not be satiated, "devalues human connectedness," "socializes people to be self-absorbed and selfish," "obliterates self-reliance," "alienates people from normal human emotional reactions" and "sells false hope that creates more pain."
Fundamentalist Consumerism is demonstrated en-mass on every Black Friday. On Long Island, NY in 2008, Wal-Mart employee Jdimytai Damour was trampled to death by customers stampeding into the store when the doors were opened. Police attempting to clear the scene were met with hostile reactions from customers, some insisting that they "had been waiting in line since yesterday morning" to get into the store. Fundamentalist Consumerism devalues all life in pursuit of 'stuff.'
by thewakebehindyou August 1, 2011
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