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ORGANIZED LABOR: The general term used when referring to the collection of labor unions representing the interests of workers. Of course, to be "organized" labor, labor needs to "organized," which is what labor unions are all about. Prior to the onset of the labor union movement in the mid-1800s, labor was not organized, meaning that each and every worker acted independently in the pursuit of wages, fringe benefits, or improved working conditions. Even in modern times, organized labor represents only a fraction of the total labor force in the United States, something less than a fourth.
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INELASTIC The general relation between two variables in which relatively large changes in one variable (A) cause relatively small changes in another variable (B). In other words, large changes in variable A cause relatively small changes in variable B or the percentage change in variable B is smaller than the percentage change in variable A. This characterization of elasticity is most important for the price elasticity of demand and the price elasticity of supply. Inelastic is one of two general elasticity relations between two variables. The other is elastic.
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BROWN PRAGMATOX
[What's This?]
Today, you are likely to spend a great deal of time watching the shopping channel looking to buy either a square lamp shade with frills along the bottom or an electric coffee pot with automatic shutoff. Be on the lookout for broken fingernail clippers.
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The portion of aggregate output U.S. citizens pay in taxes (30%) is less than the other six leading industrialized nations -- Britain, Canada, France, Germany, Italy, or Japan.
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"It is the mark of an educated mind to be able to entertain a thought without accepting it." -- Aristotle
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CSE
Cincinnati Stock Exchange
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