from Wiktionary, Creative Commons Attribution/Share-Alike License
- n. The quality of being inflexible.
- n. The insensitivity of changes in a quantity with respect to changes in another quantity.
from the GNU version of the Collaborative International Dictionary of English
- n. Lack of elasticity.
from The Century Dictionary and Cyclopedia
- n. The character of being inelastic; lack of elasticity.
from WordNet 3.0 Copyright 2006 by Princeton University. All rights reserved.
- n. the lack of elasticity
Sorry, no etymologies found.
That's what short term inelasticity actually means.
The blog post you cite makes a strong assumption, namely inelasticity of demand for “not being a mother.”
The cause of the unemployment is then identified as the inelasticity of the money supply.
Macaulay, -- Hazlitt, Lamb, De Quincey, Leigh Hunt, -- were fully his equals in precision, and yet they knew how to be clear, acute, and definite, without that edginess and inelasticity which is so conspicuous in
Therefore, I think the fundamental problem with Prescott's thesis is that it doesn't take into account price inelasticity.
I think that there IS a something that goes way beyond inelasticity being the real core of the problem.
The demand inelasticity has been reflected in the price.
Am I grossly overestimating the inelasticity of demand for gasoline?
The most striking thing about these figures (to my mind) is the remarkable inelasticity of both supply and demand.
That suggests a high degree of price-inelasticity.
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