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ALLOCATION: The process of distributing resources for the production of goods and services, and of distributing goods and services for consumption by households. This process of allocation is essential to an economy's effort to address the problem of scarcity. An allocation is efficient if the resources, goods, and services are distributed according to the economy's highest valued uses.

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CAPTURE THEORY OF REGULATION

The notion that a government agency established to regulate an industry for the benefit of society acts instead for the benefit of the industry. In effect, the government agency is "captured" by the industry it is regulating. The capture theory of regulation indicates that government regulator acts as the decision-making "head" of a now monopolized industry. This is achieved by a "rotating door" between the government agency and the industry, with members of the regulating agency being former and future employees of the industry. Rather than promoting efficiency, the regulating agency creates an inefficient allocation of resources.

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BLUE PLACIDOLA
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Today, you are likely to spend a great deal of time at a garage sale seeking to buy either a bottle of blackcherry flavored spring water or a travel case for you toothbrush. Be on the lookout for rusty deck screws.
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Before 1933, the U.S. dime was legal as payment only in transactions of $10 or less.
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