Tag Archives: definition

As the Canadian experience shows, deciding which episodes qualify as "recessions" can be debated. The safest course of action is to make it clear what definition you are using, and apply it consistently across regions. This is logic and critic thinking 101, and also fundamental to math application. While it is basic for thinking critically, it is key for doing science.This is a big problem for economics since economics is not regarded as a pure science but an applied science. Macroeconomics...

The term “regressive left” was supposedly coined in 2012 by Maajid Nawaz to describe leftists who make shameful apologetics for Islamist religious bigotry and fanaticism, as Nawaz explains in the video below.[embedded content]The regressive left in 2016 is increasingly made up of millennials, who have been profoundly influenced by, and steeped in, the core ideas of Postmodernism, which they have no doubt learned at universities.However, many of these millennials do not consciously...

I mean in an economic context.People sometimes seem confused about what it means, but I don’t find it problematic. In an economic context, “austerity” has this sense: (1) a situation where the net effect of a government budget (in all its aspects whether spending or taxation, etc.) is contractionary fiscal policy in which aggregate demand is reduced or drained from the economy. E.g., the fiscal policy of Greece and Ireland after 2008 was an example of this type of austerity. However,...