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January 26, 2022 

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WEIGHT GAINING: An activity in which the transportation cost of the output is greater than the transportation cost of the inputs. Using the term weight to mean transportation cost, an activity is said to gain weight if the cost of moving the output to the market is greater than the cost of getting the inputs to the factory. A weight-gaining activity has a greater attraction to, and tends to locate near, the market for the output.

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SHERMAN ACT: The first antitrust law passed in the United States in 1890 that outlawed monopoly or any attempts to monopolize a market. This was one of three major antitrust laws passed in the late 1800s and early 1900s. The other two were the Clayton Act and the Federal Trade Commission Act. The Sherman Act was successfully used to break up several noted monopolies in the early 1900s, including the Standard Oil Trust in 1911. However, it was flawed by (1) vague wording that allowed wide interpretation (especially based on political influence) and (2) the lack of an effective means of enforcement other than an extended journey through the court system. These two flaws led to the Federal Trade Commission Act and Clayton Act, both passed in 1914. Although other laws have been passed, the Sherman Act remains the cornerstone of antitrust laws in the United States.

     See also | antitrust laws | antitrust | trust | monopoly | Clayton Act | Federal Trade Commission Act | market control |


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ALLOCATION EFFECT

A change in the allocation of resources caused by placing taxes on economic activity. By creating disincentives to produce, consume, or exchange, taxes generally alter resource allocations. The allocation effect is typically used when governments seek to discourage the production, consumption, or exchange of particular goods or activities that are deemed undesirable (such as tobacco use or pollution). This is one of two effects of taxation. The other (primary) is the revenue effect, which is the generation of revenue used to finance government operations.

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Today, you are likely to spend a great deal of time strolling through a department store hoping to buy either a coffee table shaped like the state of Florida or storage boxes for your summer clothes. Be on the lookout for telephone calls from former employers.
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Woodrow Wilson's portrait adorned the $100,000 bill that was removed from circulation in 1929. Woodrow Wilson was removed from circulation in 1924.
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