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This article needs additional citations for verification. This article may be unbalanced towards certain viewpoints. This article includes a list of references, related reading or external links, but its sources remain unclear because it lacks inline citations. 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 restrictive practices. Cartels typically control selling prices, but some are organized to control the prices of purchased inputs. People of the same trade seldom meet together, even for merriment and diversion, but the conversation ends in a conspiracy against the public, or in some contrivance to raise prices. Price fixing is often practiced internationally.
When the agreement to control price is sanctioned by a multilateral treaty or protected by national sovereignty, no antitrust actions may be initiated. Examples of such price fixing include oil whose price is partly controlled by the supply by OPEC countries. However, today price fixing by private entities is illegal under the antitrust laws of more than 140 countries. The printing equipment company ATF explicitly states in its 1923 manual that its goal is to ‘discourage unhealthy competition’ in the printing industry.
OPEC: As its name suggests, OPEC is organized by sovereign states. Many trade associations, especially in industries dominated by only a few major companies, have been accused of being fronts for cartels or facilitating secret meetings among cartel members. An example of a new international cartel is the one created by the members of the Asian Racing Federation and documented in the Good Neighbor Policy signed on September 1, 2003. The Economics of EC Competition Law. Global Price Fixing: 2nd Paperback Edition. Hexner, Ervin, The International Steel Cartel, Chapel Hill 1943.
Ein Beitrag zur Frage der Organisation der Volkswirtschaft, Innsbruck 1883. Martyniszyn, Marek, “Export Cartels: Is it Legal to Target Your Neighbour? The extent and bases of monopoly, in: The American economic review, Bd. The theory of price, New York 1987, 4th Ed. Antitrust and the Formation of the Postwar World, New York 2002. 249-387 of The Law and Economics of Class Actions, in Vol.