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WEALTH: The net ownership of material possessions and productive resources. In other words, the difference between physical and financial assets that you own and the liabilities that you owe. Wealth includes all of the tangible consumer stuff that you possess, like cars, houses, clothes, jewelry, etc.; any financial assets, like stocks, bonds, bank accounts, that you lay claim to; and your ownership of resources, including labor, capital, and natural resources. Of course, you must deduct any debts you owe.
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CONSERVATIVE: A political view that favors -- (1) limited government, (2) extensive reliance on markets, (3) strong national defense, (4) protection and promotion of existing cultural ideals and beliefs, and (5) economic rewards predominately based on productive efforts. Conservatives tend to come from the ranks of the second estate (or second-estate wannabes), with extensive ownership of and control over resources. As such, they support policies and first estate leaders that protect their interests. Conservatives tend to be strong advocates of free enterprise and find philosophical agreement with neoclassical economics, new classical economics, rational expectations, and monetarism theories that call for limited government intervention in the economy. See also | liberal | government | market | second estate | free enterprise | capitalism | cross elasticity of demand | new classical economics | monetarism | incentive | laissez faire | regulation | deregulation |
Recommended Citation:CONSERVATIVE, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2022. [Accessed: January 17, 2022].
AmosWEB Encyclonomic WEB*pedia:Additional information on this term can be found at: WEB*pedia: conservative
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ABSOLUTE ADVANTAGE The general ability to produce more goods or services using fewer resources. A person or country has an absolute advantage in production largely due to superior technology or greater technical efficiency. A related, but contrasting concept is comparative advantage. Both terms are perhaps most important to the study of international trade, but also provide insight into other exchanges.
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BROWN PRAGMATOX
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Today, you are likely to spend a great deal of time surfing the Internet looking to buy either a how-to book on the art of negotiation or a flower arrangement for your aunt. Be on the lookout for the last item on a shelf.
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A communal society, a prime component of Karl Marx's communist philosophy, was advocated by the Greek philosophy Plato.
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"Being defeated is only a temporary condition; giving up is what makes it permanent." -- Marilyn vos Savant, Author
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AOM
Australian Options Market
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