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SMITH, ADAM: A Scottish professor (born 1723, died 1790) who is considered the father of modern economics for his revolutionary book, entitled An Inquiry into the Nature and Causes of the Wealth of Nations published in 1776.
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INVESTMENT, PRODUCTION POSSIBILITIES Investment typically refers to the purchase of productive capital by business in anticipation of increasing production and (presumably) generating more profit. More generally, investment can be considered as sacrificing the current satisfaction of wants and needs (consumption goods) to expand productive capability (capital goods). Production possibilities analysis can be used to illustrate the tradeoff between consumption and capital as a movement along a production possibilities curve.
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ORANGE REBELOON
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Today, you are likely to spend a great deal of time watching infomercials wanting to buy either rechargeable batteries or a rechargeable battery for your computer. Be on the lookout for neighborhood pets, especially belligerent parrots.
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The wealthy industrialist, Andrew Carnegie, was once removed from a London tram because he lacked the money needed for the fare.
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"Habit is a cable; we weave a thread of it each day, and at last we cannot break it. " -- Horace Mann, educator
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OBX
Oslo Stock Exchange (Norway)
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