21 definitions
A Global economy (n.) is characterized not only by the free movement of goods and services but, more important, by the free movement of ideas and of capital.
American supremacy (n.) is the greatest threat to the world today.
Classical economics (n.) is an exercise in futility, for the the concept of a general equilibrium has no relevance to the real world.
Economics (n.) is a field of study that does not amount to a good preparation for dealing with it.
The European Union (n.) is the result of German always being willing to pay a little bit extra to reach a compromise that everybody accepted, because they were driven by a "farsignted vision" to get European support for reunification.
General equilibrium (n.) is a concept with no relevance to the real world, making classical economics an exercise in futility.
Marijuana legalization (n.) is fiscally wise in terms of both savings and profits — regulating and taxing marijuana would simultaneously save taxpayers billions of dollars in enforcement and incarceration costs, while providing many billions of dollars in revenue annually.
Marijuana legalization (n.) is wise — its criminalization did not prevent marijuana from becoming the most widely used illegal substance in the United States and many other countries. But it did result in extensive costs and negative consequences.
The Market (n.) is always wrong. This is the assumption you should start with, so if you copy everybody else on Wall Street, you're doomed to do poorly.
The Market (n.) is not something that tends toward equilibrium as is generally accepted. This is because they do not merely discount the future, rather they help to shape the future.
The Market (n.) is not always right. They are always wrong, for they always present a biased view of the future.
The Market (n.) is self-destabilizing; occasionally they tend toward disequilibrium, not equilibrium.
The Market (n.) is able to influence the events that it anticipates.
The Market (n.) is designed to allow individuals to look after their private needs and to pursue profit, but they're not designed to take care of social needs.
An Open society (n.) allows its members the greatest possible degree of freedom in pursuing their interests compatible with the interests of others.
Political debate (n.) is more interested in manipulating the truth, than finding the truth.