| A | B |
|---|
| Model | Paradigm. A mental picture of how the word works |
| Paradigm | Model. A mental picture of how the world works |
| Paradigm shift | Extensive alteration of a model, or replacement of an old model with a new one |
| Dictator | A ruler with power on which there are no legal limits; the ruler can legally do anything he pleases to anyone |
| Dictatorship | A country under the control of a dictator |
| Higher Law | A law higher than any human law |
| Government's law | A law made up by human lawmakers |
| Geopolitical | World political events, as opposed to national political events |
| Geopolitics | World political events, as opposed to domestic or national political events. Global politics. Relations among nations, as well as within nations. |
| Economics | The study of the production and distribution of wealth |
| Standard of proof | Rules for judging truth |
| Evidence | Something that tends to prove |
| Mountain chart | In Finance, a chart that shows a rising line, indicating profits, with no serious downturn |
| Opinion | A belief that is not completely certain |
| School of hard knocks | Experience, as opposed to academic study |
| Soft science | A field of study in which measurements are typically not very accurate, and in which we may not be all confident about the findings. Not accurate |
| Hard science | Usually physics and chemistry, and sciences derived from them. Sciences in which measurements can be extremely precise and in which we can have a great confidence in the findings. Accurate |
| Economy | System for producing and distributing wealth |
| Austrian economics | Most Free-Market economic model; most agreeable with founding American principles; sees economy not as a machine but as an ecology made of humans |
| British common law | System for discovering and applying the Natural Laws that determine the results of human behavior. Two common laws: 1)doall you have agreed to do, and 2) do not encroach on other persons or their property. |
| Scientific method | the system of gathering, examining, testing, and proving evidence in support of a theory |
| Tautology | A statement that is logically correct but contains no useful information |
| Circular reasoning | A statement that uses itself to prove itself |
| Powerseeker | One who wishes to acquire the means to control others |
| Cognitive dissonance | The emotional stress that occurs when a person encounters a fact or persuasive idea that disagrees with his or her model |
| Limited liability | The investor's risk is limited to the amount of his investment |
| Wisdom | The right use and exercise of knowledge |
| Franchise | The right to buy and operate a business that has been developed by someone else |
| Consumer Price Index | The Federal Government's measure of changes in prices of items purchased by consumers |
