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PAYROLL TAX: A tax levied on the wage earnings, or payroll, of workers. The most notable, if nothing else in terms of sheer dollar amount, is the Social Security tax.

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IMPLICIT COLLUSION

Seemingly independent, but parallel, actions among competing firms (mostly oligopolistic firms) in an industry designed to control the market, raise the price, and otherwise act like a monopoly. Also termed tacit collusion, the distinguishing feature of implicit collusion is the lack of any explicit agreement. This is one of two types of collusion. The other is explicit or overt collusion, which involves an explicit agreement.

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Today, you are likely to spend a great deal of time at a crowded estate auction looking to buy either a small, foam rubber football or an instructional DVD on learning to the play the oboe. Be on the lookout for a thesaurus filled with typos.
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Lewis Carroll, the author of Alice in Wonderland, was the pseudonym of Charles Dodgson, an accomplished mathematician and economist.
"In the business world, everyone is paid in two coins: cash and experience. Take the experience first; the cash will come later. "

-- Harold S. Green, MCI founder

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International Bank for Settlements
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