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George W. Stocking Sr.
George Ward Stocking Sr. (September 24, 1892 – June 7, 1975) was an American economist, who was one of the pioneers of industrial organization and an early writer on international cartels. After completing a Ph.D. degree from Columbia University in 1925, he was professor of economics at the University of Texas at Austin from 1926 to 1947. During 1933-1943 he held several positions with the federal government, including the Antitrust Division of the U.S. Department of Justice, where he advised Attorney General Thurman Arnold. He founded and was professor and chair of the Department of Economics at Vanderbilt University in 1947, where he remained from 1947 to 1963. He was elected president of the Southern Economic Association in 1952, and of the American Economic Association in 1958. Stocking was a pioneering economist of industrial organization. Stocking's most enduring research was published in three volumes: Cartels in Action (1946), Cartels or Competition? (1948), and Monop ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Clarendon, Texas
Clarendon is a city in Donley County, Texas, United States. Its population was 2,026 at the 2010 census. The county seat of Donley County, Clarendon is located on U.S. Highway 287 in the Texas Panhandle, east of Amarillo. History Clarendon, established in 1878, was one of the three original Panhandle settlements, the other two being Mobeetie and Tascosa. Clarendon was relocated after its original location was bypassed by the Fort Worth and Denver Railway. The town founder was a Methodist clergyman, L.H. Carhart, who envisioned a "sobriety settlement" in contrast to typical boomtowns of that era. Clarendon acquired the sobriquet "Saints Roost" from local cowboys, hence the unusual name of the Clarendon museum, the Saints' Roost Museum. The town was hit by two tornadoes simultaneously on March 13, 2021. The first tornado caused minor damage west of town before strengthening and causing EF2 damage on the north side of town. The other tornado damaged several homes an ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Price-fixing
Price fixing is an anticompetitive agreement between participants on the same side in a market to buy or sell a product, service, or commodity only at a fixed price, or maintain the market conditions such that the price is maintained at a given level by controlling supply and demand. The intent of price fixing may be to push the price of a product as high as possible, generally leading to profits for all sellers but may also have the goal to fix, peg, discount, or stabilize prices. The defining characteristic of price fixing is any agreement regarding price, whether expressed or implied. Price fixing requires a conspiracy between sellers or buyers. The purpose is to coordinate pricing for mutual benefit of the traders. For example, manufacturers and retailers may conspire to sell at a common "retail" price; set a common minimum sales price, where sellers agree not to discount the sales price below the agreed-to minimum price; buy the product from a supplier at a specified maxi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
American Heritage Center
The American Heritage Center is the University of Wyoming's repository of manuscripts, rare books, and the university archives. Its collections focus on Wyoming and the Rocky Mountain West (including politics, settlement, and western trails) and a select handful of national topics: environment and conservation, the mining and petroleum industries, air and rail transportation, popular entertainment (particularly radio, television, film, and popular music), journalism, US military history, and book history. Usage Students and scholars from around the globe use these collections for research. In one recent year, researchers traveled from 45 states and 12 countries. The AHC also sponsors a wide range of scholarly and popular programs including lectures, symposia, and exhibits. Housed in the Centennial Complex on the campus’ east side, access to the AHC is free and open to all. Description Established in 1945, the AHC now holds more than 90,000 cubic feet (roughly 17 miles of cubic ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
University Of Wyoming
The University of Wyoming (UW) is a public land-grant research university in Laramie, Wyoming. It was founded in March 1886, four years before the territory was admitted as the 44th state, and opened in September 1887. The University of Wyoming is unusual in that its location within the state is written into the state's constitution. The university also offers outreach education in communities throughout Wyoming and online. The University of Wyoming consists of seven colleges: agriculture and natural resources, arts and sciences, business, education, engineering and applied sciences, health sciences, and law. The university offers over 120 undergraduate, graduate and certificate programs including Doctor of Pharmacy and Juris Doctor. It is classified among "R2: Doctoral Universities – High research activity". In addition to on-campus classes in Laramie, the university's Outreach School offers more than 41 degree, certificate and endorsement programs to distance learners ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Rule Of Reason
The rule of reason is a legal doctrine used to interpret the Sherman Antitrust Act, one of the cornerstones of United States antitrust law. While some actions like price-fixing are considered illegal ''per se'''', ''other actions, such as possession of a monopoly, must be analyzed under the rule of reason and are only considered illegal when their effect is to unreasonably'' '' restrain trade. William Howard Taft, then Chief Judge of the Sixth Circuit Court of Appeals, first developed the doctrine in a ruling on ''Addyston Pipe and Steel Co. v. United States, ''which was affirmed in 1899 by the Supreme Court. The doctrine also played a major role in the 1911 Supreme Court case '' Standard Oil Company of New Jersey v. United States.'' History Upon its development some critics of ''Standard Oil'', including the lone dissenter Justice John Marshall Harlan, argued that ''Standard Oil'' and its rule of reason were a departure from previous Sherman Act case law, which purportedl ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Effective Competition
Effective competition is a concept first proposed by John Maurice Clark, then under the name of "workable competition," as a "workable" alternative to the economic theory of perfect competition, as perfect competition is seldom observed in the real world. His proposal resulted in extensive debate in the economic literature over the next several decades in which George W. Stocking Sr., George Stigler, Jesse W. Markham, Joe S. Bain, and many others participated. No consensus has yet been reached over which of many potential criteria should be used to judge competition to be effective, but as an alternative to identifying specific structural criteria by which to constitute effectiveness or workability, Jesse W. Markham suggested the following definition: An industry may be judged to be workably competitive when, after the structural characteristics of its market and the dynamic forces that shaped them have been thoroughly examined, there is no clearly indicated change than can be eff ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
DuPont
DuPont de Nemours, Inc., commonly shortened to DuPont, is an American multinational chemical company first formed in 1802 by French-American chemist and industrialist Éleuthère Irénée du Pont de Nemours. The company played a major role in the development of Delaware and first arose as a major supplier of gunpowder. DuPont developed many polymers such as Vespel, neoprene, nylon, Corian, Teflon, Mylar, Kapton, Kevlar, Zemdrain, M5 fiber, Nomex, Tyvek, Sorona, Corfam and Lycra in the 20th century, and its scientists developed many chemicals, most notably Freon (chlorofluorocarbons), for the refrigerant industry. It also developed synthetic pigments and paints including ChromaFlair. In 2015, DuPont and the Dow Chemical Company agreed to a reorganization plan in which the two companies would merge and split into three. As a merged entity, DuPont simultaneously acquired Dow and renamed itself to DowDuPont on August 31, 2017, and after 18 months spin off the merged entity' ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
National Socialism
Nazism ( ; german: Nazismus), the common name in English for National Socialism (german: Nationalsozialismus, ), is the far-right politics, far-right Totalitarianism, totalitarian political ideology and practices associated with Adolf Hitler and the Nazi Party (NSDAP) in Nazi Germany. During Hitler's rise to power in 1930s Europe, it was frequently referred to as Hitlerism (german: Hitlerfaschismus). The later related term "neo-Nazism" is applied to other far-right groups with similar ideas which formed after the Second World War. Nazism is a form of fascism, with disdain for liberal democracy and the parliamentary system. It incorporates a dictatorship, fervent antisemitism, anti-communism, scientific racism, and the use of eugenics into its creed. Its extreme nationalism originated in pan-Germanism and the ethno-nationalist ''Völkisch movement, Völkisch'' movement which had been a prominent aspect of German nationalism since the late 19th century, and it was strongly i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Antitrust Laws
Competition law is the field of law that promotes or seeks to maintain market competition by regulating anti-competitive conduct by companies. Competition law is implemented through public and private enforcement. It is also known as antitrust law (or just antitrust), anti-monopoly law, and trade practices law. The history of competition law reaches back to the Roman Empire. The business practices of market traders, guilds and governments have always been subject to scrutiny, and sometimes severe sanctions. Since the 20th century, competition law has become global. The two largest and most influential systems of competition regulation are United States antitrust law and European Union competition law. National and regional competition authorities across the world have formed international support and enforcement networks. Modern competition law has historically evolved on a national level to promote and maintain fair competition in markets principally within the territorial boun ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
National Recovery Administration
The National Recovery Administration (NRA) was a prime agency established by U.S. president Franklin D. Roosevelt (FDR) in 1933. The goal of the administration was to eliminate "cut throat competition" by bringing industry, labor, and government together to create codes of "fair practices" and set prices. The NRA was created by the National Industrial Recovery Act (NIRA) and allowed industries to get together and write "codes of fair competition". The codes intended both to help workers set minimum wages and maximum weekly hours, as well as minimum prices at which products could be sold. The NRA also had a two-year renewal charter and was set to expire in June 1935 if not renewed. The NRA, symbolized by the Blue Eagle, was popular with workers. Businesses that supported the NRA put the symbol in their shop windows and on their packages, though they did not always go along with the regulations entailed. Though membership of the NRA was voluntary, businesses that did not display ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
University Of Texas
The University of Texas at Austin (UT Austin, UT, or Texas) is a public research university in Austin, Texas. It was founded in 1883 and is the oldest institution in the University of Texas System. With 40,916 undergraduate students, 11,075 graduate students and 3,133 teaching faculty as of Fall 2021, it is also the largest institution in the system. It is ranked among the top universities in the world by major college and university rankings, and admission to its programs is considered highly selective. UT Austin is considered one of the United States's Public Ivies. The university is a major center for academic research, with research expenditures totaling $679.8 million for fiscal year 2018. It joined the Association of American Universities in 1929. The university houses seven museums and seventeen libraries, including the LBJ Presidential Library and the Blanton Museum of Art, and operates various auxiliary research facilities, such as the J. J. Pickle Research Ca ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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