saltwater

Etymology

From Middle English saltwater, salte water, equivalent to salt + water. Cognate with Saterland Frisian Soaltwoater (“saltwater”), West Frisian sâltwetter (“saltwater”), Dutch zoutwater (“saltwater”), German Low German Soltwater (“saltwater”), German Salzwasser (“saltwater”), Danish saltvand (“saltwater”), Swedish saltvatten (“saltwater”), Icelandic saltvatn (“saltwater”).

noun

1. Alternative form of salt water

adj

1. New Keynesian or Keynesian, in reference to macroeconomics and economics departments on the East Coast and West Coast of the United States of America.
   Sweetwater and Saltwater economists tend to differ on policy issues. 2004, Arnold Kling, Learning Economics, 1st edition, Xlibris, page 29
   These findings suggest that the divide between fresh and saltwater departments has all but disappeared. The ideological battle is over. 2007, David Colander, The Making of an Economist, Redux, 2nd edition, Princeton University Press, published 2009, page 228
   2012, John Quiggin, Zombie Economics: How Dead Ideas Still Walk Among Us, Princeton University Press (expanded paperback ed., 1st ed. from 2010), →ISBN, page 86. Despite their often heated debates, saltwater and freshwater economists agreed on one fundamental point: that macroeconomic analysis must be based on the foundations of neoclassical microeconomics.
   In the US, economists were said to be from sweetwater departments – from Chicago and Minnesota, where they were new classical – and from saltwater departments – MIT, Harvard and Yale, where they continued to be Keynesians who did not concede the ground totally to the new classical economists. 2015, Meghnad Desai, Hubris: Why Economists Failed to Predict the Crisis and How to Avoid the Next One, 1st edition, Yale University Press, page 191
   A tax rate of say, 91 per cent – as suggested by the very saltwater Nobel Prizewinner, economist Paul Krugman – would force Americans to hand over a much larger proportion of their income than most are comfortable with. 2016, Philippa Malmgren, Signals: How Everyday Signs Can Help Us Navigate the World's Turbulent Economy, Hachette UK