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LAISSEZ FAIRE: A french term that translates into "leave us alone." It has become the rallying cry for many business leaders of the second estate who oppose government intervention, regulation, or even taxation. It's based on the belief that markets alone can achieve an efficient allocation of our resources. This laissez faire philosophy of should be contrasted directly with the philosophy of paternalism, which essentially says "Government needs to care for you because you can't care for yourself."
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MARKET The organized exchange of commodities (goods, services, or resources) between buyers and sellers within a specific geographic area and during a given period of time. Markets are the exchange between buyers who want a good (the demand-side of the market) and the sellers who have it (the supply-side of the market).
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PINK FADFLY
[What's This?]
Today, you are likely to spend a great deal of time watching infomercials hoping to buy either a package of blank rewritable CDs or yellow cotton balls. Be on the lookout for neighborhood pets, especially belligerent parrots.
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Two and a half gallons of oil are needed to produce one automobile tire.
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"Whenever you see a successful business, someone once made a courageous decision." -- Peter F. Drucker, business strategist
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AEC
Annual Equivalent Costs
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