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January 24, 2020 

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ACCUMULATION: The process of acquiring an item and adding that item to others previously acquired. In an economic context this most often refers to the accumulation of capital, as in the phrase "capital accumulation." However, it is also used in the context of consumer durable goods, financial assets, money, wealth, and a host of other "stock" variables. When applied to capital, the process of accumulation occurs through investment.

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BALANCED-BUDGET MULTIPLIER

A measure of the change in aggregate production caused by equal changes in government purchases and taxes. The balanced-budget multiplier is equal to one, meaning that the multiplier effect of a change in taxes offsets all but the initial production triggered by the change in government purchases. This multiplier is the combination of the expenditures multiplier, which measures the change in aggregate production caused by changes in an autonomous aggregate expenditure, and the tax multiplier which measures the change in aggregate production caused by changes in taxes.

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Stealing A Few Moments For CRIME

Like most consumers, workers, and taxpayers, I engage in market exchanges for a lot of stuff -- food, labor, shelter, entertainment, confectionery products. But as I wandered through the peaceful community of Shady Valley, U. S. of A., I entered a "market" that I would have rather avoided. That's right, as the title indicates, I exchange some crime. I was mugged -- relieved of several valuable possessions -- right in front of the Shady Valley police station. I did the selling and my mugger did the "buying." While my part in the exchange was involuntary, the mugger's part was quite voluntary. In fact, the perpetrator of this crime acted much like any consumer headed to Natural Ned's Nursery and Garden Center in search of a creeping juniper. Let's see why?
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YELLOW CHIPPEROON
[What's This?]

Today, you are likely to spend a great deal of time flipping through mail order catalogs seeking to buy either a genuine down-filled comforter or a 200-foot blue garden hose. Be on the lookout for mail order catalogs with hidden messages.
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The portrait on the quarter is a more accurate likeness of George Washington than that on the dollar bill.
"Wherever you go, no matter what the weather, always bring your own sunshine."

-- Anthony J. D'Angelo

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