The methods used by government or those in power to make those pesky poorer people get up and move from the geographic place they live. It could be higher property assessments, highways through poor neighborhoods, higher costs for food, shelter, and even water. If poor people can't live in a certain area then economic cleansing has occurred. It is often subtle and no one ever admits to doing it. It is the final market solution to poverty in any growth oriented prosperous community.market forces ethnic cleansing gentrification progress
The city of Leander engaged in economic cleansing when it raised city water rates so high that poor residents couldn't afford the water bill. The Health Dept. said they can't live in a trailer, where they lived for 30 years, without their city water hookup. They must move. They have been economically cleansed by the city council.
by Caveman Z August 11, 2008
Sandy: "man that one came out clean, I only had to use one square for Quilted Northern."
Bob: "well shoot dang that was one economic shit."
Bob: "well shoot dang that was one economic shit."
by DairyMilker August 16, 2011
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
*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
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 4, 2020
It's Ghana be okay if only we can stop tackling ourselves with our 2023 budget and just get out of this economic Maguire...
by G-Spirit December 1, 2022
A term used to describe something such as a flat tire. Basically because everyone is blaming the "economic downturn" for everything.
Friend one: Dang! I got a flat tire!
Friend two: What are you going to do, its an economic downturn...
Friend two: What are you going to do, its an economic downturn...
by Priz April 8, 2009