Cartel

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Concept.png Cartel 
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A cartel is a group of apparently independent producers whose goal is to increase their collective profits by means of price fixing, limiting supply, or other such practices. Cartels typically control selling prices, but some are organized to control the prices of purchased inputs. Cartels usually occur in oligopolies, where there are a small number of sellers and usually involve homogeneous products.

 

Examples

Page nameDescription
Big pharmaThe multinational drug companies, supposedly in competition, but who have interlocking interests and personnel, and who operate a revolving door with their supposed regulatory agencies, now long since captured.
Drug cartelA large business entity in the illegal drug trade
Inter-Alpha Group of BanksA banking cartel created in 1971 by six banks in the European Community, directed from London by Sir Jacob Rothschild
Seven SistersBig Oil oligopoly
Transnational corporation

 

Related Quotation

PageQuoteAuthorDate
Archer Daniels-Midland“The competitor is our friend and the customer is our enemy....There isn't one grain of anything in the world that is sold in a free market. Not one! The only place you see a free market is in the speeches of politicians. People who are not in the Midwest do not understand that this is a socialist country."”Dwayne Andreas1995


References


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