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WILDCAT STRIKE: An unofficial and usually spontaneous strike or work stoppage by union members. A wildcat strike is not authorized by the labor union representing the workers. Such strikes generally occur because (1) labor has specific problems or concerns that have not been satisfactorily addressed by employers or (2) workers feel that union leaders are not acting in the best interest of the union members. This is also termed an outlaw strike.
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CONCENTRATION RATIOS A family of measures of the proportion of total output in an industry that is produced by a given number of the largest firms in the industry. The two most common concentration ratios are for the four largest firms and the eight largest firms. The four-firm concentration ratio is the proportion of total output produced by the four largest firms in the industry and the eight-firm concentration ratio is proportion of total output produced by the eight largest firms in the industry. Concentration ratios are commonly used to indicate the degree to which an industry is oligopolistic and the extent of market control of the largest firms in the industry. A related measure is the Herfindahl index.
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The earliest known use of paper currency was about 1270 in China during the rule of Kubla Khan.
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"When you play, play hard; when you work, don't play at all. " -- Theodore Roosevelt, 26th US president
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