Word: deadweight
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...complete loser." If you spend $50 on yourself, he explains, you'll get something worth $50 to you. But if your Aunt Bernice buys you a $50 Christmas gift, she's likely to buy something that's worth nothing to you. In economic terms, that's a "deadweight loss." But if you fail to buy Aunt Bernice a Christmas gift in return, that's a family disgrace, even during a recession. Skinflint relative? Thrifty nephew? Your call...
Moore's story, which was published by DC Comics in 12 monthly installments in 1986, was conceived back when Ronald Reagan and the Russkies were still swapping dark threats, and few imagined the Soviet Union could collapse under its own deadweight. This was the pre-Internet age (Moore pounded out his scripts on a manual typewriter), when most comics had an afterlife only in the back-issue bins. But Watchmen soon attained the status of legend and literature; in 2005, TIME cited it as one of the 100 best novels since 1923. (See page 54 for our book critic...
...experience in Asia over the past decade shows that no company is too big to fail, the fallout is often not as painful as the dire predictions and, in the medium to long term, economies may actually benefit by permitting their deadweight...
...pales by comparison with what's just around the corner. Canada is poised to become Venezuela north--without the loopy President and the deadweight national oil company as unwanted partners--as the biggest oil boom in North American history hits terminal velocity. An estimated $124 billion will be invested from 2007 to 2012, according to the Athabasca Regional Issues Working Group, an industry association. Production in Alberta's oil sands will more than quadruple, to about 5 million bbl. daily, by 2015; Canada currently exports an average of 1.9 million bbl. daily (from all sources) to the U.S., more than...
...those rare issues on which everyone from the staunch free market advocate to the ardent proponent of social justice can see eye to eye. A cursory reading of Mankiw’s Principles of Economics will reveal subsidies are, as a general rule, inefficient; they distort incentives and create deadweight loss. While they can produce artificially low prices at the grocery store, the funds paying for this difference come straight out of consumers’ wallets in the form of tax dollars. Ultimately the costs outweigh the benefits. American farm subsidies are no exception, and have the added drawback...