Economic problems

thumb|300px|Early in the COVID-19 pandemic, [[convention centers (pictured here) were deemed to be ideal sites for temporary hospitals, due to their existing infrastructure (electrical, water, sewage). Hotels and dormitories were also considered appropriate because they can use negative pressure technology.]]

society's categorization of its people into hierarchical groups based on socioeconomic factors

thumb|Bethlehem Steel in Bethlehem, [[Pennsylvania, one of the world's leading steel manufacturers for most of the 20th century, discontinued most of its operations in 1982, filed for bankruptcy in 2001, and was dissolved in 2003.]] Deindustrialization is a process of social and economic change caused by the removal or reduction of industrial capacity or activity in a country or region, especially of heavy industry or manufacturing industry.

act of buying unusually large amounts of a product in anticipation of a shortage of supply or rapid increase in cost

vicious cycle that reinforces poverty

economic inefficiency caused by a government intervention, if the inefficiency would not exist in a true free market

fall or disintegration of complex human societies, involving causative factors such as natural disasters, environmental change, depletion of resources, unsustainable complexity, decay of social cohesion, rising inequality, and loss of creativity

legal theory that says that the national debt incurred by a despotic regime should not be enforceable

critique of central economic planning proposed by Ludwig von Mises

geographic area that has been permanently changed by heavy environmental alterations

Affluenza describes the psychological and social effects of affluence. It is a portmanteau of affluence and influenza, and is used most commonly by critics of consumerism. Some psychologists consider it to be a pseudo-scientific term; however, the word continues to be used in scientific literature.

fundamental problem of economics, satisfying unlimited wants with limited resources

Marxist economic concept

strong belief in the ability of unregulated laissez-faire or free market policies to solve most economic and social problems

question of whether central planners can achieve rational, efficient allocations of economic resources for society

political catchphrase

economic growth that reflects or creates a decline in the quality of life

period in the 2010s where many American brick and mortar retail stores have closed or struggled

when people are without work and actively seeking work, and are willing to work at the prevailing wage but still unemployed

2011 American consumer activism initiative

people's ability to improve their economic status over the course of their lifetimes.