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LIVING STANDARD: In principle, an economy's ability to produce the goods and services that consumers use to satisfy their wants and needs. In practice, it is the average real gross domestic product per person--usually given the name per capita real GDP.
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BANK RUN A situation in which a relatively large number of a bank's customers attempt to withdraw their deposits in a relatively short period of time, usually within a day or two. While common throughout the 1800s and early 1900s, government deposit insurance has largely eliminated banks runs in the modern economy. Historically a bank run was prompted by fears that the bank was on the verge of collapse, causing deposits to become worthless. Ironically a bank run often caused the bank to fail. Bank runs were often infectious, leading to economy-wide bank panics and business-cycle contractions.
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PINK FADFLY
[What's This?]
Today, you are likely to spend a great deal of time browsing through a long list of dot com websites wanting to buy either a large, stuffed kitty cat or a cross-cut paper shredder. Be on the lookout for broken fingernail clippers.
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In the late 1800s and early 1900s, almost 2 million children were employed as factory workers.
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"After climbing a great hill, one finds many more hills to climb. " -- Nelson Mandela, president of South Africa
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SAFEX
South African Futures Exchange
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