Adam Smith moving to London in 1776, he published An Inquiry into the Nature and Causes of the Wealth of Nations, which examined in detail the consequences of economic freedom. "Wealth of Nations" established economics as an autonomous subject and launched the economic doctrine of free enterprise. With the invisible hand Adam Smith meant the security of his own and the directing industry in such a manner as its produce may be of the greatest value, he intends only his own gain, and he is in this, as in many other cases, led by an invisible hand to promote an end which was no part of his intention.
Capitalism: An economic and political system characterized by a free market for goods and setvices and private control of production and consumption. (Compare socialism and communism.)
Mercantilism: an economic system (Europe in 18th century) to increase a nation's wealth by government regulation of all of the nation's commercial interests.
Monday, February 5, 2007
Thursday, February 1, 2007
Harley Plant Motors Towar Strike
link
Workers at York, Pa. plant overwhelmingly rejected proposed contract offering lower wages and benefits for new workers. The workers at the motorcycle maker's York, Pa., plant voted overwhelmingly on Wednesday to reject a proposed new contract. The contract concessions were necessary to help the company, which is currently enjoying growing sales and profits, avoid finding itself "in the same position that the Detroit auto industry is in now" 10 years down the road. Investor, Tim Conder pointed out that the two bikes that come out of York are Harley's highest-margin products and account for about 60 percent of all the units it makes. The issues would be "quickly resolved," and a strike averted, citing Harley's long history of extremely good company/labor relations. At that time the York workers, who make between 700 and 800 bikes a day, staged a walkout that was quickly resolved.
Workers at York, Pa. plant overwhelmingly rejected proposed contract offering lower wages and benefits for new workers. The workers at the motorcycle maker's York, Pa., plant voted overwhelmingly on Wednesday to reject a proposed new contract. The contract concessions were necessary to help the company, which is currently enjoying growing sales and profits, avoid finding itself "in the same position that the Detroit auto industry is in now" 10 years down the road. Investor, Tim Conder pointed out that the two bikes that come out of York are Harley's highest-margin products and account for about 60 percent of all the units it makes. The issues would be "quickly resolved," and a strike averted, citing Harley's long history of extremely good company/labor relations. At that time the York workers, who make between 700 and 800 bikes a day, staged a walkout that was quickly resolved.
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