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LAISSEZ FAIRE: A french term that translates into "leave us alone." It has become the rallying cry for many business leaders of the second estate who oppose government intervention, regulation, or even taxation. It's based on the belief that markets alone can achieve an efficient allocation of our resources. This laissez faire philosophy of should be contrasted directly with the philosophy of paternalism, which essentially says "Government needs to care for you because you can't care for yourself."
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COMPLEMENT-IN-CONSUMPTION One of two (or more) goods that provide satisfaction of a want or need when consumed together. A complement-in-consumption is one of two alternatives falling within the other prices determinant of demand. The other is a substitute-in-consumption. An increase in the price of one complement good causes a decrease in demand for the other. A complement-in-consumption has a negative cross elasticity of demand.
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BEIGE MUNDORTLE
[What's This?]
Today, you are likely to spend a great deal of time driving to a factory outlet hoping to buy either a how-to book on home remodeling or a tall storage cabinet with five shelves and a secure lock. Be on the lookout for pencil sharpeners with an attitude.
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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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"The purpose of learning is growth, and our minds, unlike our bodies, can continue growing as long as we live." -- Mortimer Adler
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ICTB
International Customs Tariffs Bureau
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