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THIRD RULE OF INEQUALITY: The third of seven basic rules of the economy. It is a fact of life that resources, income, and wealth are not equally distributed. Some people have more and some people have less. Why is this so? We can look to the age-old distinction between nature and nurture for insight. On the nature side, some people are born with more talents, abilities and intelligence than others, which they use to gain ownership and control of income-generating and wealth-producing resources. On the nurture side, some people work harder to develop skills, acquire education, and uncover opportunities that lead to ownership and control of income-generating and wealth-producing resources (human capital).
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TIEBOUT HYPOTHESIS The notion that people relocate from one political jurisdiction to another in search of a more preferred package of government taxes and spending. Named after economist Charles Tiebout, this hypothesis suggests that people "shop" for compatible government activity in the same way they might shop for a car, a house, or a flavor of ice cream. However, shopping for a preferred government package is influenced by other factors affecting migration.
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GREEN LOGIGUIN
[What's This?]
Today, you are likely to spend a great deal of time at a going out of business sale trying to buy either a wall poster commemorating last Friday (you know why) or a country wreathe. Be on the lookout for door-to-door salesmen.
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This isn't me! What am I?
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North Carolina supplied all the domestic gold coined for currency by the U.S. Mint in Philadelphia until 1828.
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"In the business world, everyone is paid in two coins: cash and experience. Take the experience first; the cash will come later. " -- Harold S. Green, MCI founder
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EPS
Earnings Per Share
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