A report on Cartel, Price fixing and Competition law

Headquarters of the Rhenish-Westphalian Coal Syndicate, Germany (at times the best known cartel in the world), around 1910
Does Price Fixing Destroy Liberty? (1920) by George Howard Earle Jr.
Judge Coke in the 17th century thought that general restraints on trade were unreasonable.
The printing equipment company American Type Founders (ATF) explicitly states in its 1923 manual that its goal is to "discourage unhealthy competition" in the printing industry.
Elizabeth I assured monopolies would not be abused in the early era of globalization.
Senatorial Round House by Thomas Nast, 1886
There is considerable controversy among WTO members, in green, whether competition law should form part of the agreements
John Stuart Mill believed the restraint of trade doctrine was justified to preserve liberty and competition.
Paul Samuelson, author of the 20th century's most successful economics text, combined mathematical models and Keynesian macroeconomic intervention. He advocated the general success of the market but backed the American government's antitrust policies.
Robert Bork
Scottish Enlightenment philosopher Adam Smith was an early enemy of cartels.
The economist's depiction of deadweight loss to efficiency that monopolies cause

Cartel behavior includes price fixing, bid rigging, and reductions in output.

- Cartel

Price fixing is permitted in some markets but not others; where allowed, it is often known as resale price maintenance or retail price maintenance.

- Price fixing

prohibiting agreements or practices that restrict free trading and competition between business. This includes in particular the repression of free trade caused by cartels.

- Competition law

When the agreement to control price is sanctioned by a multilateral treaty or is entered by sovereign nations as opposed to individual firms, the cartel may be protected from lawsuits and criminal antitrust prosecution.

- Price fixing

Because cartels are likely to have an impact on market positions, they are subjected to competition law, which is executed by governmental competition regulators.

- Cartel

Today, the Treaty of Lisbon prohibits anti-competitive agreements in Article 101(1), including price fixing.

- Competition law
Headquarters of the Rhenish-Westphalian Coal Syndicate, Germany (at times the best known cartel in the world), around 1910

1 related topic with Alpha

Overall
Future collusive profits

Collusion

0 links

Deceitful agreement or secret cooperation between two or more parties to limit open competition by deceiving, misleading or defrauding others of their legal right.

Deceitful agreement or secret cooperation between two or more parties to limit open competition by deceiving, misleading or defrauding others of their legal right.

Future collusive profits
Set higher prices

To differentiate from a cartel, collusive agreements between parties may not be explicit; however, the implications of cartels and collusion are the same.

Uniform prices and setting of an unjustified high or an unjustified low price

Collusion is illegal in the United States, Canada and most of the EU due to antitrust laws, but implicit collusion in the form of price leadership and tacit understandings still takes place.