"Generalissimo Francisco Franco is still dead" is a catchphrase that originated in 1975 during the first season of NBC's Saturday Night and which mocked the weeks-long media reports of the impending death of Francisco Franco. It was one of the first catchphrases from the series to enter the general lexicon.
"No such thing as a free lunch" is a popular adage communicating the idea that it is impossible to get something for nothing. The acronyms TANSTAAFL, TINSTAAFL, and TNSTAAFL are also used. The phrase was in use by the 1930s, but its first appearance is unknown. The "free lunch" in the saying refers to the formerly common practice in American bars of offering a "free lunch" in order to entice drinking customers.
Behavioral economics is the study of the psychological, cognitive, emotional, cultural and social factors involved in the decisions of individuals or institutions, and how these decisions deviate from those implied by classical economic theory.
A catchphrase is a phrase or expression recognized by its repeated utterance. Such phrases often originate in popular culture and in the arts, and typically spread through word of mouth and a variety of mass media. Some become the de facto or literal "trademark" or "signature" of the person or character with whom they originated, and can be instrumental in the typecasting of a particular actor. Catchphrases are often humorous, but are never long enough or structured enough to be jokes in themselves. However, a catchphrase can be the punch line of a joke, or a callback reminder of a previous joke.
Paul Robin Krugman is an American economist who is the Distinguished Professor of Economics at the Graduate Center of the City University of New York and a columnist for The New York Times. In 2008, Krugman was the sole winner of the Nobel Memorial Prize in Economic Sciences for his contributions to new trade theory and new economic geography. The Prize Committee cited Krugman's work explaining the patterns of international trade and the geographic distribution of economic activity, by examining the effects of economies of scale and of consumer preferences for diverse goods and services.
James Kenneth Galbraith is an American economist. He is a professor at the Lyndon B. Johnson School of Public Affairs and at the Department of Government, University of Texas at Austin. He is also a Senior Scholar with the Levy Economics Institute of Bard College and part of the executive committee of the World Economics Association, created in 2011.
"And you are lynching Negroes" is a catchphrase that describes or satirizes Soviet responses to US criticisms of Soviet human rights violations.
George Jerome Waldo Goodman was an American author and economics broadcast commentator, best known by his pseudonym Adam Smith. He published fiction under his own name.
Richard H. Thaler is an American economist and the Charles R. Walgreen Distinguished Service Professor of Behavioral Science and Economics at the University of Chicago Booth School of Business. In 2015, Thaler was president of the American Economic Association.
Spaceship Earth is a worldview encouraging everyone on Earth to act as a harmonious crew working toward the greater good.
Modern monetary theory or modern money theory (MMT) is a heterodox macroeconomic theory that describes currency as a public monopoly and unemployment as evidence that a currency monopolist is overly restricting the supply of the financial assets needed to pay taxes and satisfy savings desires. According to MMT, governments do not need to worry about accumulating debt since they can pay interest by printing money. MMT argues that the primary risk once the economy reaches full employment is inflation, which acts as the only constraint on spending. MMT also argues that inflation can be controlled by increasing taxes on everyone, to reduce the spending capacity of the private sector.
Alfred Edward Kahn was an American economist and political advisor who specialized in regulation and deregulation. He was an important influence in the deregulation of the airline and energy industries. Commonly known as the "Father of Airline Deregulation," he chaired the Civil Aeronautics Board during the period when it ended its regulation of the airline industry, paving the way for low-cost airlines, from People Express to Southwest Airlines.
Kenneth Ewart Boulding was an English-born American economist, educator, peace activist, and interdisciplinary philosopher. Boulding was the author of two citation classics: The Image: Knowledge in Life and Society (1956) and Conflict and Defense: A General Theory (1962). He was co-founder of general systems theory and founder of numerous ongoing intellectual projects in economics and social science. He was married to sociologist Elise M. Boulding.
The spherical cow is a humorous metaphor for highly simplified scientific models of complex phenomena. Originating in theoretical physics, the metaphor refers to physicists' tendency to develop toy models that reduce a problem to the simplest form imaginable, making calculations more feasible, even if the simplification hinders the model's application to reality.
Robert James Shiller is an American economist, academic, and author. As of 2022, he served as a Sterling Professor of Economics at Yale University and is a fellow at the Yale School of Management's International Center for Finance. Shiller has been a research associate of the National Bureau of Economic Research (NBER) since 1980, was vice president of the American Economic Association in 2005, its president-elect for 2016, and president of the Eastern Economic Association for 2006–2007. He is also the co‑founder and chief economist of the investment management firm MacroMarkets LLC.
Earl Lauer "Rusty" Butz was a United States government official who served as the secretary of agriculture under Presidents Richard Nixon and Gerald Ford. His policies favored large-scale corporate farming and an end to New Deal programs.
James Brian Bullard is the former chief executive officer and 12th president of the Federal Reserve Bank of St. Louis, a position he held from 2008 until August 14, 2023. In July 2023, he was named dean of the Mitchell E. Daniels Jr. School of Business at Purdue University.
In any technical subject, words commonly used in everyday life acquire very specific technical meanings, and confusion can arise when someone is uncertain of the intended meaning of a word. This article explains the differences in meaning between some technical terms used in economics and the corresponding terms in everyday usage.
Peace economics is a branch of conflict economics and focuses on the design of the sociosphere's political, economic, and cultural institutions and their interacting policies and actions with the goal of preventing, mitigating, or resolving violent conflict within and between societies. This violent conflict could be of any type and could involve either latent or actual violence. Recognizing the cost of violence, peace economics focuses on the benefits of (re)constructing societies with a view toward achieving irreversible, stable peace. Along with approaches drawn from other areas of scholarship, peace economics forms part of peace science, an evolving part of peace and conflict studies.
William Frederic (Bill) Boulding is an American economist, professor and academic administrator. He is the dean of the Fuqua School of Business at Duke University.
