1) "Luxurious living at very little financial or environmental cost."
2) "Maximum returns for minimum investment."
See also: sustainability opulence economy
2) "Maximum returns for minimum investment."
See also: sustainability opulence economy
"Look, that guy has a spa-tub in the back of his Metro. The econopulence!"
"I lay back in my orchard garden, grown entirely from seeds on the front of gardners weekly, and revelled in the fruits of my econopulence."
"I lay back in my orchard garden, grown entirely from seeds on the front of gardners weekly, and revelled in the fruits of my econopulence."
by Justin Washtell March 8, 2005
Get the Econopulence mug.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
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Economics
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• economy
• Econometrics
• economic Darwinism
• Economic Terrorists
• economist
• Econopocalypse
• Econamy
• econerd
*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.by Steven Cyneki November 12, 2007
Get the econkulated mug.the reason why you lost your job, your 401k was wiped out, you don't have health care, your wife left you, and your dog died. there should be a country song about it.
by bumbleclot January 30, 2009
Get the the economy mug.New self-coined word used to describe the self proclaimed wisdom of all the present day pseudo-economists. They have 100 bogus reasons for what just happened, and just as many for what didn't happen. Kind of like watching sports announcers, during a game, hamming up the leading team and acting like they knew what was going to happen all the time--when they didn't have a clue.
I get so tired of reading all the so-called "experts" on the economy, when in reality it is all just econobabble.
by Guido1 April 2, 2008
Get the econobabble mug.1)Eating less, buying less expensive food, or eating out less in order to become more frugal in response to the economic crisis.
2)To make all the meals of a week on one day using a large quantity of beef or chicken as to save money.
3)Any change in eating habits that adjusts to the failing economy. There is an overlying goal to save money because of recently hard times
2)To make all the meals of a week on one day using a large quantity of beef or chicken as to save money.
3)Any change in eating habits that adjusts to the failing economy. There is an overlying goal to save money because of recently hard times
Bill: Hey do you want to go out to dinner with us on Wednesday?
Jack: Sorry, we're cutting down on the Claim Jumper. Were starting to econodine because of Wall Street
Jack: Sorry, we're cutting down on the Claim Jumper. Were starting to econodine because of Wall Street
by spencemanr January 19, 2009
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