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When what you can afford is what you can steal and sell.
Crackhead economics is a simple sustaining system that doesn’t require any education, talent or planning ability, addiction is the only motivation you need!
Taking a crap that is so clean cut, it only takes one wipe
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."
(n.) A severe or long recession.
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?
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*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.
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.
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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.
"We need economic intercourse to stimulate our economic package."
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Tackling your own allies, scoring own goals and creating an economic Maguire
It's Ghana be okay if only we can stop tackling ourselves with our 2023 budget and just get out of this economic Maguire...
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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...
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