Labor-Management Relations Act: also known as the
Taft-Hartley Act. The law governs unions' behavior. Among
other things, it forbids unions from forcing prospective
employees to become union members in order to get hired. It also
forbids using dues to run campaigns for national union
elections.
laissez faire: French term meaning "let them do"; describes a
policy of minimal involvement of government in business.
launch: to start a new activity, especially one that
involves some risk.
law of demand: all else being equal, more items will be sold
at a lower price than at a higher price.
