resource curse n.— «Although economic growth is a key ingredient to poverty reduction, some academics have formulated the “resource curse” theory, which, broadly stated, includes the proposition that an economy blessed with abundant, but finite...
cargo cult economics n.— «With a new year ahead, what do we see as our future? How much of our growth and progress is real, and how much is what I call “Cargo Cult Economics,” where we end up holding sacks of straw? At the end of World War II...
Do you know what a “buffet flat” is? Is it A) a type of shoe you wear to all-you-can-eat dinners, B) a lull in economic growth predicted by Warren Buffet, or C) a squalid apartment found in the Rocky Mountain States? Find out when Grant gives you...
householding n.— «Another area of growth in the financial/banking sector is in what’s known as “householding.” The term refers to the concept of offering different product lines to an existing customer. Rather than going through the expense of...