2013/2/11 - Paul Krugman

http://krugman.blogs.nytimes.com/2013/02/10/still-says-law-after-all-these-years/

• proposition : (C.) a statement that consists of a carefully considered opinion or judgment
  - Most people accept the proposition that we have a duty to protect endangered animals.
• deficiency : (U.) a lack of something that is necessary
  - a deficiency of safe play areas for children
• historians : (C.) someone who studies history, or the history of a particular thing 
• at any rate  = anyway
  : used when you are stating one definite fact in a situation that is uncertain or unsatisfactor
  : used to introduce a statement that is more important than what was said before
• venture : (Vt.) to say or do something in an uncertain way because you are afraid it is wrong or will seem stupid
  - "You are on a holiday here?" he ventured.
• corporate : (adj. before noun) belonging or relating to a corporation
  - The company is moving its corporate headquarters (=main offices)    from New York to Houston.
• hoard : (Vt.) to collect and save large amounts of food, money etc, especially when it is not necessary to do so
  - families who hoarded food during the strike
• concedes : (Vt. & Vi.) to admit that something is true or correct, although you wish it were not true
  - I conceded that I had made a number of errors.
• pile up : to increase in quantity or amount, in a way that is difficult to manage
  - The word has a tendency to pile up if I am not careful.
• mattress : (C.) the soft part of a bed that you lie on
• aggregate : (adj.) being the total amount of something after all the figures or points have been added together
• straw man : (American English) a weak opponent or imaginary argument that can easily be defeated
• refute : (Vt. formal) to prove that a statement or idea is not correct = rebut
  - an attempt to refute Darwin's theory
  - (U.) refutation
  : to say that a statement is wrong or unfair = deny
  - She refutes any allegations of malpractice.
• cripple : (Vt.) to damage something badly so that it no longer works or is no longer effective

==

Say's Law, the proposition that income must be spent and hence that there can never be an overall deficiency of demand.