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ANTITRUST: The generally process of preventing monopoly practices or breaking up monopolies that restrict competition. The term antitrust derives from the common use of the trust organizational structure in the late 1800s and early 1900s to monopolize markets. The most noted example of the use of a monopoly trust was the Standard Oil Trust, controlled by J. D. Rockefeller and dismantled through the Sherman Act in 1911. The creation of similar monopoly trusts led to the several antitrust laws, including the Sherman Act, the Clayton Act, and the Federal Trade Commission Act.
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SCIENTIFIC METHOD A structured way of investigating and explaining the operation of the world by testing and verifying hypothesized relations. The scientific method is a process of discovery, a method of explaining the way the world operates. Positive economics is the application of the scientific method to economic analysis.
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YELLOW CHIPPEROON
[What's This?]
Today, you are likely to spend a great deal of time strolling through a department store trying to buy either a set of steel-belted radial snow tires or a wall poster commemorating the 2000 Presidential election. Be on the lookout for mail order catalogs with hidden messages.
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Two and a half gallons of oil are needed to produce one automobile tire.
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"It had long since come to my attention that people of accomplishment rarely sat back and let things happen to them. They went out and happened to things. " -- Elinor Smith, aviator
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IIA
Irrelevance of Independent Alternatives
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