Social Sciences and the Law

Why are international cartels allowed?

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Because they imply the agreement and supervision of several governments, cartels in international trade are usually felt to be less harmful than those that tend to create monopolies in the home market for participants. Formal international agreements, involving governments as well as private firms, still control price, output, and distribution in some industries, notably in diamonds and in oil. Although not referred to as cartels, these agreements have the same general effect on world trade.

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Similar questions: Who controls international cartels? What regulates international cartels? Why are international cartels thought to be less harmful than national cartels? [ Hide these questions ]

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