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SOLIDARITY: The rallying cry for organized labor and the labor union movement that has attempted to cut across industries and occupations, based on an "us versus them" view of the labor market. The "us" are the workers and the "them" are the employers. This solidarity notion presumes that when one worker wins a battle against an employer then all workers win.
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RENT SEEKING The inclination of everyone who is alive and breathing to get as much extra income, wealth, profit, or satisfaction as they can. Rent, while technically considered the factor payment for the use of land resources, is also commonly used as a synonym for economic profit, for the acquisition of benefits above opportunity cost. Rent seeking is the entirely rational process of obtain as much "extra" as possible. In effect, rent seeking is nothing more than utility maximization. Efficiency problems can arise, however, when rent seeking is enhanced and enabled through market control, political influence, or actions of special interest groups.
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YELLOW CHIPPEROON
[What's This?]
Today, you are likely to spend a great deal of time visiting every yard sale in a 30-mile radius hoping to buy either a velvet painting of Elvis Presley or a wall poster commemorating yesterday. Be on the lookout for broken fingernail clippers.
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This isn't me! What am I?
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It's estimated that the U.S. economy has about $20 million of counterfeit currency in circulation, less than 0.001 perecent of the total legal currency.
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"The time to repair the roof is when the sun is shining." -- John F. Kennedy, 35th U. S. president
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OTC
Over the Counter
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