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Bergson, Abram, 1914- (B3)<br />US economist educated at Johns Hopkins and Harvard Universities. After wartime experience from 1942 to 1945 as chief of the Russian Economic Subdivision of the US Office of Strategic Services, he returned to academic life and has been a professor at Harvard since 1956. In 1938, he created the new welfare economics by asserting that a social welfare function can be established by attaching weights to each individual's welfare function: this rejected the earlier CARDINAL UTILITY approach. Also, he introduced the distinction between 'efficiency' and 'equity', applying it to an analysis of the individual income effects of economic change. He has applied his welfare analysis to many areas of economics, including MARKET sociALISM and monopoly. Also, he became a leading US authority on the Soviet economy.<br /> <br /><em>Reference</em><br />Bergson, A. (1964) Economics of Soviet Planning, New Haven, CT: Yale University Press. - (1966) Essays in Normative Economics, Cambridge, :MA: Harvard University Press.<br /> - (1982) Welfare Planning and Employment: Selected Essays in Economic Theory, Cambridge, MA: MIT Press.
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<strong>Less than half time (LTH)</strong> – An enrollment status indicating the student is carrying less than a half-time academic workload, as determined by the school. Students who are less than half time are not eligible to borrow FFEL Program loans.
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<strong>Holder</strong> – An eligible lender that owns a FFEL Program loan.
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<strong>NDSL</strong> – National Direct Student Loan, renamed the Federal Perkins Loan Program in 1992. (Note: this is NOT the same program as the William D. Ford Direct Loan Program, or FDLP.)
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<strong>Flat file</strong> – Within systems terms, a flat file is a single file containing flat ASCII, or a string of characters. Data in flat files must be read and processed sequentially. CommonLine 4 files are flat files.
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Variable observed multinational corporation (F2, L2)<br />An international firm that produces goods or services in several countries, without being concentrated in a single country, Although the term first became popular in the 1960s, by the late nineteenth century several US, UK and Dutch firms had acquired such characteristics.<br /> The advantages of production abroad, rather than exporting from the original country of operation, include a saving in transport costs, the adjustment of product design to make products more acceptable to local markets, a reduction, in many cases, in corporate taxation and access to local labour and capital which may be more abundant than at home. The immense success of this form of organization, prominent in many industries, including motor cars, computers, pharmaceuticals, food processing, oil and soap, has attracted envy and criticism: envy from national governments with less economic power and competence; criticism from Marxists who see the growth of multinationals as a sinister international expansion of CAPITALISM. TRADE UNIONS complain about competition from cheap labour countries; science graduates lament the increased concentration of research and development activities in the USA to the detriment of other countries; national governments object to the loss of tax revenue and the difficulties of operating
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sample (C1)<br />A part of a POPULATION which is examined in order to ascertain the characteristics of the whole of that population. Random sampling (or probability sampling) is used to obtain unbiased estimates. Sampling can produce better evaluations by increasing the size of a sample or by stratification of the sampled population.<br /><em>Reference</em><br />Kish, L. (1965) Survey Sampling, New York: Wiley.
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