WE THE ECONOMY 20 Short Films You Can't Afford To Miss. Ep. 1: CAVE-O-NOMICS. Ep. 2: SUPPLY & DANCE, MAN! Ep. 3: GDP SMACKDOWN. Ep. 4: LEMONADE WAR. Regulatory capture. Regulatory capture is a form of political corruption that occurs when a regulatory agency, created to act in the public interest, instead advances the commercial or special concerns of interest groups that dominate the industry or sector it is charged with regulating.
Regulatory capture is a form of government failure; it creates an opening for firms to behave in ways injurious to the public (e.g., producing negative externalities). The agencies are called "captured agencies". Theory Regulatory capture theory is a core focus of the branch of public choice referred to as the economics of regulation; economists in this specialty are critical of conceptualizations of governmental regulatory intervention as being motivated to protect public good. Often cited articles include Bernstein (1955), Huntington (1952), Laffont & Tirole (1991), and Levine & Forrence (1990).
Relationship with federalism The opposite scenario is possible with very large industries, however. Examples Ep. 5: A BEE'S INVOICE; THE HIDDEN VALUE IN NATURE. Ep. 6: THAT FILM ABOUT MONEY. IOU. An IOU (abbreviated from the phrase "I owe you") is usually an informal document acknowledging debt.
An IOU differs from a promissory note in that an IOU is not a negotiable instrument and does not specify repayment terms such as the time of repayment. IOUs usually specify the debtor, the amount owed, and sometimes the creditor. IOUs may be signed or carry distinguishing marks or designs to ensure authenticity. In some cases, IOUs may be redeemable for a specific product or service rather than a quantity of currency. California Registered Warrants Also referred to as "IOUs" by the U.S. state of California, the term "Registered Warrants", which specify a future payment date, is meant to differentiate these IOUs from regular, or “normal” payroll warrants which permit the holder to exchange their warrant for cash immediately.
See also References Ep. 7: THE SECOND PART OF THAT FILM ABOUT MONEY. Catherine Hardwicke. Ep. 9: RECESSION. Recession. In economics, a recession is a business cycle contraction.
It is a general slowdown in economic activity. Macroeconomic indicators such as GDP (gross domestic product), investment spending, capacity utilization, household income, business profits, and inflation fall, while bankruptcies and the unemployment rate rise. Recessions generally occur when there is a widespread drop in spending (an adverse demand shock). This may be triggered by various events, such as a financial crisis, an external trade shock, an adverse supply shock or the bursting of an economic bubble. Governments usually respond to recessions by adopting expansionary macroeconomic policies, such as increasing money supply, increasing government spending and decreasing taxation. Definition Ep. 10: THE STREET. Ep. 11: TAXATION NATION. Ep. 12: AN ANIMATED FILM ON THE DEBT & THE DEFICIT. Debt. A debt is an obligation owed by one party (the debtor) to a second party, the creditor; usually this refers to assets granted by the creditor to the debtor, but the term can also be used metaphorically to cover moral obligations and other interactions not based on economic value.
 A debt is created when a creditor agrees to lend a sum of assets to a debtor. Debt is usually granted with expected repayment; in modern society, in most cases, this includes repayment of the original sum, plus interest. In finance, debt is a means of using anticipated income and future purchasing power in the present before it has actually been earned. Some companies and corporations use debt as a part of their overall corporate finance strategy. Deficit spending. Deficit spending is the amount by which spending exceeds revenue over a particular period of time, also called simply deficit, or budget deficit; the opposite of budget surplus.
The term may be applied to the budget of a government, private company, or individual. Government deficit spending is a central point of controversy in economics, as discussed below. US Government Spending As Percent Of GDP - Charts Tables History. US Total Government Spending Since 1900 Click chart for briefing on Total Government Spending.For numbers from 1900-2019 click here.
Government spending at the start of the 20th century was less than 7 percent of GDP. It vaulted to almost 30 percent of GDP by the end of World War I, and then settled down to 10 percent of GDP in the 1920s. In the 1930s spending doubled to 20 percent of GDP. Defense spending in World War II drove overall government spending over 50 percent of GDP before declining to 22 percent of GDP in the late 1940s.
Federal, State, Local Spending in 20th Century. Ep. 13: YOUR TAX DOLLARS AT WORK. Ep. 14: THE FOREIGN AID PARADOX. Ep. 15: GLOBALIZATION... WHO CARES? ...YOU DO. Ep. 16: CITY ON THE RISE. Ep. 17: MADE BY CHINA IN AMERICA. Ep. 18: SUPPLY CHAIN REACTION. Ep. 19: THE UNBELIEVABLY SWEET ALPACAS! Ep. 21: THE VALUE OF WORK. Ep. 22: THIS WON'T HURT A BIT!