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PATERNALISM: A fundamental philosophical viewpoint that the private sector (households and businesses) needs to be watched over--like a parent--by the public sector (government). In other words, members of society need to be watched over, cared for, and kept out of trouble, like parents watch over, care for, and keep their children out of trouble. This philosophy of paternalism should be contrasted directly with the philosophy of laissez faire, which essentially says "Hey, we're all grown ups here, we can make our own decisions."
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THREE-SECTOR KEYNESIAN MODEL: A model used to identify equilibrium in Keynesian economics based on aggregate expenditures by the three domestic sectors (household, business, and government). Equilibrium is achieved at the intersection of the aggregate expenditures line, AE = C + I + G, and the 45-degree line, Y = AE. This is Keynesian aggregate expenditures model can be used to analyzed the impact of government fiscal policy on aggregate expenditures and equilibrium. See also | Keynesian economics | Keynesian equilibrium | consumption line | aggregate expenditures line | 45-degree line | household sector | business sector | government sector | fiscal policy | two-sector Keynesian model | four-sector Keynesian model |
Recommended Citation:THREE-SECTOR KEYNESIAN MODEL, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2025. [Accessed: July 13, 2025].
AmosWEB Encyclonomic WEB*pedia:Additional information on this term can be found at: WEB*pedia: three-sector Keynesian model
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BANK RESERVES Assets used by banks to back up deposits and to conduct daily transactions, including withdrawing funds, "cashing" checks, and transferring funds between banks to "clear" checks. Reserves, also termed bank reserves or legal reserves, includes two types of assets: vault cash and Federal Reserve deposits. These legal reserves are then divided between require reserves and excess reserves. Required reserves are used to back up deposits and excess reserves are used for loans.
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PINK FADFLY
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Today, you are likely to spend a great deal of time at a crowded estate auction seeking to buy either an instructional DVD on learning to the play the oboe or a small, foam rubber football. Be on the lookout for malfunctioning pocket calculators.
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In his older years, Andrew Carnegie seldom carried money because he was offended by its sight and touch.
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"To sit back and let fate play its hand out, and never influence it, is not the way man was meant to operate." -- John Glenn, astronaut, U.S. senator
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WTO
World Trade Organization
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