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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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HEDGING: Buying or selling futures contracts to protect against price changes. This is a common form of "insurance" used by those who produce various commodities, such as wheat, cattle, coffee, and natural gas, as well as those who buy these commodities as inputs. See also | futures | risk | uncertainty | commodity exchange | financial markets | insurance | option | speculation |
Recommended Citation:HEDGING, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2024. [Accessed: October 21, 2024].
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SCARCITY A pervasive condition of human existence that results because society has unlimited wants and needs, but limited resources used for their satisfaction. This fundamental condition is the common thread that binds all of the topics studied in economics.
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PINK FADFLY
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Today, you are likely to spend a great deal of time at a crowded estate auction hoping to buy either a key chain with a built-in flashlight and panic button or a green and yellow striped sweater vest. Be on the lookout for neighborhood pets, especially belligerent parrots.
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Post WWI induced hyperinflation in German in the early 1900s raised prices by 726 million times from 1918 to 1923.
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"A stumble may prevent a fall. " -- Margaret Thatcher, British prime minister
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