Glossary Term:

Creative Destruction

noun \krē-ˈā-tiv di-ˈstrək-shən\
“Then they’ll huff and they’ll puff…and they’ll invent a more useful widget than yours disrupting entire industries.” We think it was Schumpeter who said that.

Other Glossary Terms:

1%

noun \ˈwən pər-ˈsent\

An attitude, not an amount.

3D Printing

noun \ˈthrē dē ˈprin-tiŋ\
A process by which end-users (or “makers” as they call themselves) can create insane amounts of plastic nick-nacks, virtually at will and barely any cost, with the push of a button.

Age of Ignorance

noun \ˈājˈäv ˈig-n(ə-)rən(t)s\
The period directly preceding the Information Age. Because there was no internet yet, only some people knew some things but nearly everyone knew they didn’t know everything. (See also the Information Age.)

All of the Problems

noun \ˈȯl ˈäv thə ˈprä-bləms\
What the Fed should’ve solved already. We’re talking about unemployment… the cost of living… U.S. output… stock prices… the shrinking middle class… monthly limits on cell phone data usage… bad pizza…broken marriages… Miley Cyrus and all of the other problems.

Antidisestablishmentarianism

noun \an-tee-dis-uh-stab-lish-muh n-tair-ee-uh-niz uh m\

Increasing the size of government without objection… one unread bill at a time.

Antifragile

adjective \ˈant- ˈī-ˈfra-jəl\
Antonym for fragile. Describes things that gain from disorder or crises — like government.

Bear Market

noun \ˈber ˈmär-kət\
A 6- to 18-month period when the kids get no allowance, the wife gets no jewelry, and an investor gets what’s coming to him.

Bed and Breakfast Stage

noun \ˈbed ən(d)ˈbrek-fəst ˈstāj\
The new phase in the life cycle wedged between the career phase and traditional retirement. It usually kicks in when children have left home, careers have ended and a man’s balance sheet begins to look better than he does.

Bill Gates

biographical name \ˈbilˈgāts\
Where God goes for a loan.

Bitcoin

noun \ˈbit-ˈkoin\
Imaginary friend to computer nerds around the globe…

Glossary Term:

Creative Destruction

Other Glossary Terms:

1%

3D Printing

Age of Ignorance

All of the Problems

Antidisestablishmentarianism

Antifragile

Bear Market

Bed and Breakfast Stage

Bill Gates

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