A business term used to describe how a free-market economy balances itself after extreme events run their course like a rising stocks after a recession or the real estate bubble burst. The word crossed over into everyday use to similarly describe when one's fortune or luck changes, for bad or good, changing the course of daily life.
BAD:
Bob: Last summer I was was nailing babes left and right. Now that I'm back at college...nothing!
Pete: Ah, well, you're not that attractive or interesting. You just had a lucky streak. You were due for a market correction. Consider yourself forntunate if any girl even talks to you, bro!
GOOD:
Pete: I was just promoted at work! I've been wasting my talents there for WEEKS, but the VP just quit and they promoted me to replace him. Guess I was due for a market correction, huh? How's the girl situation, Bob?
A system where workers collectively own the means of production, and compete in a market free of capitalists. The Bourgeoise and Proletariat merge into oneclass.
Market Socialism is an economic system that takes aspects of Socialism and Capitalism, and puts them together in a balanced way.
Precedes or follows either a gratuitously disrespectful or honest remark, originated in New York City. Used in similar fashion to "no offense" or "to be honest," interchangeably.
Ya mans is wild buns, respectfully. Respectfully he's washed.
After school, The Modells on Jamaica Ave was active. Respectfully.