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Cartels in the News
29th November 2007
Cartels in the news!<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />
An interesting day for students and teachers of A2 microeconomics!There were three examples today of alleged producer cartels working in different sectors of the economy. This BBC news online article reports that ‘Four of the world’s biggest glass manufacturers have been fined a total of 486.9m euros (£348.2m) for illegally co-ordinating price rises.’ The colluders included Pilkington Glass based in the <?xml:namespace prefix = st1 ns = "urn:schemas-microsoft-com:office:smarttags" />UK. More on this in this Times feature.
Across the water in Canada, a price-fixing investigation has been launched into alleged collusion by some of the biggest makers of chocolate bars in Canada. This BBC news online report has the details. And on the same day, the Australian airline Qantas is reported as having pleaded guilty in the USA for its role in a conspiracy to fix the price of international air cargo shipments.
Tutor2u revision presentation on cartels and oligopoly
Geoff Riley
Geoff Riley FRSA has been teaching Economics for over thirty years. He has over twenty years experience as Head of Economics at leading schools. He writes extensively and is a contributor and presenter on CPD conferences in the UK and overseas.