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Bailey 43 - Vocabulary/KeyWords/etc SupplySide Economics...

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Vocabulary/Key Words/etc… Supply Side Economics Supply-side economics is a school of macroeconomic thought which emphasizes the "supply" part of "supply and demand." The central concept of supply-side economics is that: "supply creates its own demand," or the idea that one must sell before one can afford to buy. Therefore good economic policy encourages increased production, vice attempts to stimulate demand -- this is the fundamental dispute between classical, supply-side economics and Keynesian economics or demand side economics. Supply- side economics is often conflated with trickle down economics. Sandra Day O’Connor 1 st Woman on the Supreme Court. Appointed by Reagan, Day O’Connor was one of three conservative minded justices. Sworn in on Sept 25, 1981. Affirmative Action Affirmative action, is a policy or a program aimed at increasing the representation of members of groups that have traditionally been discriminated against Sexual Harassment Brought about as a revolution of sentiments by Anita Hill, sexual harassment was used politically to ruin many prominent figures’ political careers. Clarence Thomas was accused of sexually harassing Anita Hill. Robert Packwood was forced to resign from the Senate in 1995 after charges that he had sexually harassed several women. Bakke v U.C Davis 1978 Allan Bakke was a white guy. He was turned down by UC Davis’ med school because of affirmative action’s endeavor to favor minority applicants. The court ruled that the medical school must admit Bakke, and that preference in admissions could not be given tot members of any group, minority or majority, on the basis or ethnic or racial identity alone. Thurgood Marshall (the black Justice) dissented warning that denial of racial preferences may sweep away years of progress by the civil rights movement. Yuppies Yuppie, short for "Young Urban Professional," describes a demographic of people comprising baby boomers as well as people in their late twenties and early thirties.
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