Economics

/Economics

black swan

black swan: the occurrence (or non-occurrence) of an event that: lies outside of the range of normal expectations; has an extreme impact; and only seems explainable and predictable in hindsight. #blackswan @nntaleb @journofletcher @jonsindreu A term coined by NYU professor, Nassim Nicholas Taleb. The reference is to the discovery of the first black swan after the [...]

slum tourism

slum tourism: the practice of local or visiting sightseers who pay for tours of sections of urban areas where there is extreme poverty, especially in cities in the developing world.  *** TROVELOG *** Manila is starkly representative of a global problem. According to the United Nations, about a quarter of the world’s urban population lives in slums—and this [...]

range anxiety

range anxiety: the concern that the limited cruising distance of current electric cars -- and the lack of a charging infrastructure -- leaves drivers and passengers at risk of being stranded.  *** TROVELOG *** The Bolt can travel nearly 240 miles on a single charge, according to General Motors. The company claims some drivers have traveled 300 [...]

union workers

            11.9: The percentage of American workers in unions last year, the lowest proportion in more than 70 years, according to the government’s Bureau of Labor Statistics. The number of workers in unions fell by 612,000 last year, to 14.7 million. About 20 percent of workers were in unions in 1983; the figure was [...]

BRIC

acronym for the four large, rapidly growing economies of Brazil, Russia, India, China          Jim O’Neill, the chairman of Goldman Sachs Asset Management . . . is perhaps best known as the economist who nearly a decade ago coined the acronym BRIC — for Brazil, Russia, India and China — developing economies that, [...]

Dunbar’s number

#Dunbarsnumber - the idea that a person can only have a limited number of close relationships, probably around 150.   [O]ur minds are not designed to allow us to have more than a very limited number of people in our social world. The emotional and psychological investments that a close relationship requires are considerable, and [...]

food desert

a low-income urban, suburban or rural area where there are limited vendors of fresh produce but often numerous fast-food outlets     For cities, one particular problem is "food deserts" – low-income areas where the prevalent food options are chips and soda at corner stores instead of leafy green vegetables at supermarkets.   See article at: CSM 14Feb11 - The [...]

ghost/ shadow inventory

homes financed by mortgage loans on which no payments are being made but have yet to be listed in a foreclosure sale.   [R]eal estate agents and mortgage brokers wary of optimism are focusing on a new term that has entered the housing lexicon: ghost inventory. Banks appear to be sitting on thousands of homes [...]