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INTRODUCTION
A cartel is a group of formally independent producers whose goal it is to fix prices, to limit supply and to limit competition. Cartels are prohibited by antitrust laws in most countries; however, they continue to exist nationally and internationally, formally and informally. A single entity that holds a monopoly cannot be a cartel, though it may be guilty of abusing said monopoly in other ways. As such, it is inaccurate to describe (for example) Microsoft or AT&T as cartels. Cartels usually occur in oligopolies, where there are a small number of sellers.
In general, cartels are economically unstable in that there is a great incentive for members to cheat and to sell more than the quotas set by the cartel. This has caused many cartels that attempt to set product prices to be unsuccessful in the long term. Empirical studies of 20th century cartels have determined that the mean duration of discovered cartels is from 5 to 8 years. However, once a cartel is broken, the......
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Title: International Cartels
Approximate Word Count: 3224
Approximate Pages: 13 (250 words per double-spaced page)
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International Cartels
International cartels. ... Examples of prosecuted international cartels are lysine,
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Carlel Opec Case
... International commodity agreements covering products such as coffee, sugar, tin
and more recently oil (OPEC) are examples of international cartels which have ... ... -
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... And modern science must be released from German slavery. International cartels
that serve American greed and the German will to power must go. ... ... -
Merger Activity In The Eu
... As to cartels, according to Webster’s dictionary, a cartel is defined as “an
association of business firms establishing a national or international monopoly ... ... -
Drug Trade
... more, are serving as springboards for international trafficking and criminal
organizations. The nations of Africa are also being used by drug cartels as areas ... ...
