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National Institute for Economic and Social Research (E6)<br />UK independent economics institute founded in 1938 to research into economic and social conditions. Apart from occasional pamphlets, it publishes an influential quarterly review and undertakes its own economic forecasting.
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non-goal equilibrium (EO)<br />An EQUILIBRIUM state that is the consequence of the interaction of economic forces, not the conscious pursuit of a particular agent. A major case is NATIONAL INCOME in a MARKET ECONOMY.<br /><em>See also:</em> goal equilibrium
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joint cost (DO)<br />The cost of producing two or more goods or services which arise from the same inputs. Joint costs are not divisible into the separate costs for each good or service. Many managerial and research costs are of this nature. John Stuart MILL in his Principles of Political Economy, Book III, ch. 16, laid down the rule that the sum of the prices of joint products must equal their joint cost. Today, joint costs are often arbitrarily allocated between products
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