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LABOR UNION MOVEMENT: Activities on the part of workers in the United States, beginning in the mid-1800s and extending into the mid-1900s, to establish labor unions and otherwise promote the interests of workers. This movement, which coincided with the onset of the U.S. industrial revolution, was launched with the Commonwealth versus Hunt court decision in 1842 which made it legal to join a labor union. The labor union movement had a turbulent and violent history as organized labor sought to gain greater control over labor market activities. The movement reached its peak in the 1950s, with just under 30% of the labor force belonging to labor unions.
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DIVISION OF LABOR A basic economic notion that labor resources are used more efficiently if work tasks are divided among different workers. This allows workers to specialize in production as each becomes highly skilled at specific tasks.
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GRAY SKITTERY
[What's This?]
Today, you are likely to spend a great deal of time strolling around a discount warehouse buying club hoping to buy either a set of hubcaps or handcrafted decorations to hang on your walls. Be on the lookout for defective microphones.
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The standard "debt" notation I.O.U. does not mean "I owe you," but actually stands for "I owe unto..."
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"Love looks through a telescope; envy, through a microscope. " -- Josh Billings, humorist
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LBO
Leveraged Buyout
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