Tuesday, October 14, 2008

Econ Glossary

Planet Moron provides some assistance with definitions in these times.

Bailout: A process by which your money is given to someone else in order to save them from financial collapse.

Rescue: Very much like a Bailout with the important exception that it is called a rescue.

Laffer Curve: A graphical representation of the amount by which investment bankers laugh as they spend taxpayer money.

Supply and Demand: A theory of economics in which the demand for government money and the supply of campaign contributions reaches a natural equilibrium and in so doing optimizes the chance of an incumbent politician being reelected.

More at the link.

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