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Social Studies skills: Difference between revisions
→Other useful Economics and "Political Economy/-ics" terms and concepts
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** see Frederic Bastiat's ""Ce qu'on voit et ce qu'on ne voit pas" ("That Which We See and That Which We Do Not See"): https://en.wikipedia.org/wiki/Parable_of_the_broken_window | ** see Frederic Bastiat's ""Ce qu'on voit et ce qu'on ne voit pas" ("That Which We See and That Which We Do Not See"): https://en.wikipedia.org/wiki/Parable_of_the_broken_window | ||
* client politics | * client politics | ||
* | * churning | ||
** assets churning | |||
*** a form of rent seeking whereby a regulated public utility seeks replacement infrastructure solely for the purpose of generating interest income on the investment, and not for a genuine need for that infrastructure, or, worse, intentionally investing in assets or infrastructure that will require future replacement (see "planned obsolescence") | |||
** brokerage churning | |||
* externalities | * externalities | ||
* Inflation/ deflation | * Inflation/ deflation | ||
* Labor supply / flexibility of labor supply | * Labor supply / flexibility of labor supply | ||
* | * planned obsolescence | ||
** obsolescence = out of date, no longer useful or appealing | |||
** deliberate design for a product or asset to require replacement | |||
** practices may include, automobile or cell phone design to entire consumers to purchase based upon a new "look", fad, or feature that does not make the previous version obsolete | |||
* public goods | * public goods | ||
* regulatory capture | * regulatory capture | ||