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piecework

(Encyclopedia)piecework, work for which the laborer is paid on the basis of the amount of work done. The system is best adapted to standardized operations in which quantity is preferred to quality. Its advocates ma...

North American Free Trade Agreement

(Encyclopedia)North American Free Trade Agreement (NAFTA), accord establishing a free-trade zone in North America; it was signed in 1992 by Canada, Mexico, and the United States and took effect on Jan. 1, 1994. NAF...

Kennedy, Ted

(Encyclopedia)Kennedy, Ted (Edward Moore Kennedy), 1932–2009, U.S. senator from Massachusetts (1962–2009), b. Boston, Mass., youngest son of Joseph P. Kennedy and the last survivor of brothers Joseph P. Kennedy...

capital, in economics

(Encyclopedia)capital, in economics, the elements of production from which an income is derived, usually defined with the exception of land and labor. As originally used in business, capital denoted interest-bearin...

value, in economics

(Encyclopedia)value, in economics, worth of a commodity in terms of other commodities, or in terms of money (see price). Value depends on both desirability and scarcity. The marginal theory of value, pioneered in t...

Wagner, Robert Ferdinand

(Encyclopedia)Wagner, Robert Ferdinand wăgˈnər [key], 1877–1953, American legislator, b. Germany. He arrived with his family in the United States in 1885 and grew up in poor surroundings in New York City. Afte...

ACLU

(Encyclopedia)ACLU: see American Civil Liberties Union. ...

EC

(Encyclopedia)EC, the European Community; see European Union. ...

USSR

(Encyclopedia)USSR: see Union of Soviet Socialist Republics. ...

League of Nations

(Encyclopedia)League of Nations, former international organization, established by the peace treaties that ended World War I. Like its successor, the United Nations, its purpose was the promotion of international p...