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BARTER: A method of trading goods, commodities, or services, directly for one another without the use of money. In a barter exchange one good is traded directly for another. This sort of exchange ultimately requires a double coincidence of wants, meaning that each trader has what the other trader wants and wants what the other has. Without a double coincidence of wants the exchange process can become exceedingly complex, requiring a great deal of resources to complete transactions, resources that can not be used for production. In fact, inefficient barter trading was the primary reason that money was invented. With money, more resources can be used for production and fewer are needed for trading.
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PARADOX OF THRIFT The notion that an increase in saving, which is generally good advice for an individual during bad economic times, can actually worsen the macroeconomy causing a reduction in aggregate income, production, and paradoxically a decrease in saving. The paradox of thrift is an example of the fallacy of composition stating that what is true for the part is not necessarily true for the whole.
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Packing Up For MIGRATIONThe quiet, peaceful town of Shady Valley has always been a great place for a pedestrian to wander through the workings of the economy. I'm afraid, though, that it's about to end. I've been offered another job -- an opportunity to wander around the streets of the distant mecca of Shady Lane to search out the mysteries of plant pathology. In Shady Lane, the sidewalks are smoother, the crosswalks are better, and the pay is much more lucrative. However, in that Shady Lane is in another time zone and several states away, migration would be my last topic of the day. There's a lot to be gained from this potential relocation of my residence, but it's not without cost. While I ponder this decision, perhaps you can help out by considering the topic of migration.
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BLUE PLACIDOLA [What's This?]
Today, you are likely to spend a great deal of time at a garage sale wanting to buy either a stretchable, flexible watch band or high-gloss photo paper that works with your printer. Be on the lookout for attractive cable television service repair people. Your Complete Scope
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The portion of aggregate output U.S. citizens pay in taxes (30%) is less than the other six leading industrialized nations -- Britain, Canada, France, Germany, Italy, or Japan.
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"I can feel guilty about the past, apprehensive about the future, but only in the present can I act." -- Abraham Maslow, Psychologist
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WACM Weak Axiom of Cost Minimization
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