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NUMBER OF SELLERS: One of the five supply determinants assumed constant when a supply curve is constructed, and that shift the supply curve when they change. The other four are resource prices, technology, other prices, and sellers' expectations. This determinant is based on the simple observation that if more people are willing and able to sell a good, then supply is greater.
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                           PATERNALISM: A fundamental philosophical viewpoint that the private sector (households and businesses) needs to be closely supervised by the public sector (government). In other words, members of society need to be watched over, cared for, and kept out of trouble, like parents watch over, care for, and keep their children out of trouble. Paternalism is based on the notion that the world is imperfect, that people make mistakes, that markets fail, and that individual decisions do not necessarily result in the best outcome for people or the economy. A close philosophical alignment exists between paternalism and the liberal political philosophy. Paternalism implies that government needs to enact laws and regulations that protect the public. In practice, paternalism is usually aimed at protecting workers and consumers (of the third estate) from employers and producers (of the second estate). This paternalistic view is most evident with social regulation (to correct externalities and other market failures), industry regulation (to address the inefficiency of monopoly and market control), and stabilization policies (to correct the unemployment and inflation problems of business cycles).
Recommended Citation:PATERNALISM, AmosWEB Encyclonomic WEB*pedia, http://www.AmosWEB.com, AmosWEB LLC, 2000-2025. [Accessed: July 9, 2025].
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BROWN PRAGMATOX
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Today, you are likely to spend a great deal of time at a dollar discount store trying to buy either a birthday greeting card for your father or a T-shirt commemorating the first day of spring. Be on the lookout for spoiled cheese hiding under your bed hatching conspiracies against humanity.
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The earliest known use of paper currency was about 1270 in China during the rule of Kubla Khan.
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"All labor that uplifts humanity has dignity and importance and should be undertaken with painstaking excellence. " -- Martin Luther King Jr., civil rights leader
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IRT
International Trade Commission
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