Tuesday, October 14, 2008

I got a WOD for ya...

Excuse me. I need to get the Cheese out of my mouth.

Here's a word of the day: pari passus. Rothbard uses it seemingly gratuitously in this passage of America's Great Depression:
Entrepreneurs are in the business of forecasting
changes on the market, both for conditions of demand and of supply.
The more successful ones make profits pari passus with their
accuracy of judgment, while the unsuccessful forecasters fall by the
wayside. As a result, the successful entrepreneurs on the free market
will be the ones most adept at anticipating future business conditions.
Yet, the forecasting can never be perfect, and entrepreneurs
will continue to differ in the success of their judgments. If
this were not so, no profits or losses would ever be made in business.

I did in fact bring that up here because I had to look it up, not just because I think it has bearing on the discussion here lately. It is something that investors should know before they fork over their money.
pari passu (păr'ē păs'ū, păr'ī, pär'ē)
At an equal pace; side by side: inflation and interest rates increasing pari passu.

[Latin parī passū : parī, ablative of pār, equal + passū, ablative of passus, step.]

Hah! Looks like Blogger finally figured out how to let all those marks pass through. At least it works in the preview.

Invest in government. It's so much safer.

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