Terms  |
Definitions |
| Lacrosse |
Something that Wall Street traders are good at, unlike assessing risk when caught up in the excitement of the Federal Reserve’s easy-money policy.
|
| Lange, Oskar |
A promoter of Soviet-style central planning who was convinced that the free market does not work because – ahem – General Equilibrium Theory is a turd. See Debreu, Gerard.
|
| Law of Price Adjustment |
Increases in the importance of a phenomenon causes its price to rise exponentially and its stock to remain constant. The principle result of my 1999 book. See my Simplified Exposition.
|
| Legitimacy |
What a political party gains by winning a landslide in a fair election, as Hamas did in 2006. See Carter, Jimmy.
|
| Lehman Bros. |
Soon-to-be-released hit single! Ben Bernanke and the Moral Hazards are proud to present that banjo classic, “He’s no heavy tax burden, he’s my Lehman Brother.”
|
| Lerrick, Adam |
See Failure of Government.
|
| Liberals |
As far as I can tell, they only thing that they are liberal with is other people’s money. See Conservatives.
|
| Light |
“A light will shine down from somewhere. It will shine through your soul, out your eyes and warm your food. You will experience an epiphany, and you will say to yourself, ‘I have to vote for Barack,’” says Barack Obama, who is not sure if he is running for god or president. See Narcissism.
|
| Like you say,... |
Never once in my life have I heard this expression that it was not followed by a bald-faced lie about an event (what I actually said) that had happened only 30 seconds earlier. See What would you say if I told you that…
|
| Loonie |
1) A currency now worth more than the not-so-almighty dollar, 2) The “affectionate” term that Austrian cultists – I mean students – have for the author of this dictionary.
|
| Lying |
A sign of being human, according to Hillary Clinton, who hopes that someday the Earthlings will treat her like one of their own. (Yeah right – maybe if she tried telling us the truth once in a while.) See Sniper.
|
| |
|
