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DISINFLATION: A decline in the inflation rate. With disinflation, prices are still rising, they're just not rising as fast. Numerically speaking, if the inflation rate was 10% last year, 6% this year, and looks to be 4% next year, then we have disinflation. Disinflation, a reduction in the inflation rate, is not the same as deflation, a decline in the price level. Prices continue to rise with disinflation, just not as fast. Should disinflation continue, presumably because anti-inflationary monetary or fiscal policies are working effectively, then the average price level could decline and we make the transition to deflation.
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PRINCIPLE A generally accepted, verified, proven, fundamental law of nature. A principle captures a cause-and-effect relation about the workings of the world that has been tested and verified through the scientific method. The law of demand, law of increasing opportunity cost, and law of diminishing marginal utility are three fundamental (and extremely important) economic principles.
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Today, you are likely to spend a great deal of time strolling around a discount warehouse buying club seeking to buy either a birthday greeting card for your mother that doesn't look like a greeting card or a handcrafted spice rack. Be on the lookout for poorly written technical manuals.
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Lombard Street is London's equivalent of New York's Wall Street.
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"Long-range goals keep you from being frustrated by short-term failures " -- J. C. Penney, Retailer
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