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.*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
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African American Vernacular English (AAVE), also called African American English, Black English, Black Vernacular, or Black English Vernacular (BEV), is a type variety (dialect, ethnolect and sociolect) of the American English language. It is known colloquially as Ebonics (a portmanteau of "ebony" and "phonics"). With pronunciation that in some respects is common to Southern American English, the variety is spoken by many blacks in the United States. AAVE shares many characteristics with various Creole English dialects spoken by blacks in much of the world. AAVE also has pronunciation, grammatical structures, and vocabulary in common with various West African languages. Ebonics is not merely just the use of urban or "slang" words, but rather it is the manipulation and transformation of the English language (ie, In the sentence "I want to have sex with a chickenhead", a slang word is used, but the speaker is not using ebonics.)
"He workin'."- He is working (right now).
"He been hit dat from last week."- He has already had sex with that(her), since last week.
"I'm finna go get some chicken." I am (or possibly I am considering) going to get chicken.
"I aint doin' nuthin' fo'dat ho."- I am not going to do anything for that whorish woman.
"Don't be tellin' me dat I can't talk good cuz I speak ebonics."- Do not tell me that I am unable to speak well just because I speak ebonics.
"He been hit dat from last week."- He has already had sex with that(her), since last week.
"I'm finna go get some chicken." I am (or possibly I am considering) going to get chicken.
"I aint doin' nuthin' fo'dat ho."- I am not going to do anything for that whorish woman.
"Don't be tellin' me dat I can't talk good cuz I speak ebonics."- Do not tell me that I am unable to speak well just because I speak ebonics.
by vanity_is_my_privalege_not_my_problem July 21, 2006
Get the ebonics mug.A form of economic stimulus that is considered long and hard, as recommended by a former, massive member of the US Senate. Requires many stimulus packages to come on and/or be pounded out. May require fingering someone else to take the blame if it fails and we need to pull out.
by ThatGuyMort May 3, 2020
Get the Economic Intercourse mug."White-bred Ebonics" is the native language of the "Wigger" who is usually found in it's native habitat in the suburbs surrounding such cities as Detroit.
The Wigger tried speaking White-bred Ebonics during a job interview, but they did not get the job because the interviewer did not understand the language.
by Jorceshaman January 24, 2011
Get the White-bred Ebonics mug.A business model in which a company may have great offerings, but does not necessarily great profits due to a lack of stratedgy or how the business is run.
Outlined in an episode of South Park, where gnomes are stealing the town's underwear. The gnome's plan is to...
Step One: Collect underwear.
Step Three: Profit.
Outlined in an episode of South Park, where gnomes are stealing the town's underwear. The gnome's plan is to...
Step One: Collect underwear.
Step Three: Profit.
WebMD's underwear gnome economics.
Step One: 'Provide connectivity and a full suite of services to the healthcare industry that improve administrative efficiencies and clinical effectiveness enabling high-quality patient care.'
Step Two:
Step Three: Profit.
Step One: 'Provide connectivity and a full suite of services to the healthcare industry that improve administrative efficiencies and clinical effectiveness enabling high-quality patient care.'
Step Two:
Step Three: Profit.
by -Razor May 21, 2008
Get the underwear gnome economics mug.n. - Personal name popular with African Americans or found exclusively in African American communities.
For girls, Ebonics names typically follow the pattern of three syllables with the stress on the second vowel. This may be accomplished by adding a prefix to a mainstream, two-syllable name, or by inventing a name from scratch. Less commonly, a two-syllable name is made by adding a syllable to the ending "-elle."
For boys, Ebonics names are often names formerly popular with whites. Otherwise, they are two syllable names with the stress on the second syllable. This pattern can be achieved by adding a prefix to a single-syllable mainstream name, or by inventing a name by combining two syllables. As with girls, a boy's name can also be formed with the "-el" (notice masculine spelling) ending.
Invented Ebonics names often begin with the syllables La/Le, Da/De, or Sha/She.
For girls, Ebonics names typically follow the pattern of three syllables with the stress on the second vowel. This may be accomplished by adding a prefix to a mainstream, two-syllable name, or by inventing a name from scratch. Less commonly, a two-syllable name is made by adding a syllable to the ending "-elle."
For boys, Ebonics names are often names formerly popular with whites. Otherwise, they are two syllable names with the stress on the second syllable. This pattern can be achieved by adding a prefix to a single-syllable mainstream name, or by inventing a name by combining two syllables. As with girls, a boy's name can also be formed with the "-el" (notice masculine spelling) ending.
Invented Ebonics names often begin with the syllables La/Le, Da/De, or Sha/She.
Bessie grandbabies all have Ebonics names: LaTanya, LaWanda, Deneka, Chantelle, Calvin, Reggie, Demond, Lamont, Montel, and DeWayne.
by Dorothy May 17, 2005
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