Term of the Day

bureaucracy

system of administration distinguished by its (1) clear hierarchy of authority, (2) rigid division of labor, (3) written and inflexible rules, regulations, and procedures, and (4) impersonal relationships. Once instituted, bureaucracies are difficult to dislodge or change. See also Parkinson's Law and Peter principle.
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Usage Example
Small businesses pride themselves on customer intimacy, less bureaucracy, and ability to "walk the talk".
BureauCrazy can make us run from 'Pillar to Post' with no recourse :)
Term of the Day

capitalism

Economic system characterized by the following: private propertyownershipexists; individuals and companies are allowed to compete for their owneconomic gain; and free market forces determine the prices of goodsandservices. Such a system is based on the premise of separating the state andbusiness activitiesCapitalists believe that markets are efficient and should thus function without...
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Usage Example
Capitalism is a political, social, and economic system that is based on the idea that individuals can own private property and operate for a profit.