Word: cartelism
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Dates: during 1950-1959
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...reputation as the "official" government news service soon became an added handicap, and by 1926, Sir Roderick was forced to sell a controlling interest in the agency to Britain's provincial papers. Its troubles increased as A.P. Boss Kent Cooper expanded his international service and broke up the cartel run by "Reuters Rex," Havas (the French agency) and Wolff (German), which had divided up the world...
Price Gouging. This was not all the fault of the U.S.; many a producer used the shortages to do some price gouging. The most conspicuous example is tin, controlled by a cartel run by tin men of Great Britain, Belgium, Holland and Bolivia. After Korea, tin jumped from 78¾? a lb. to $1.82, forcing the RFC to step in and do all the buying for the U.S. Said RFC Administrator W. Stuart Symington: "They murdered us on prices." To stop the slaughter, RFC went on a buyers' strike in March, and tin settled to about $1.50. Two weeks...
...supranational character of the European community of coal and steel." ¶"The creation of a market of 150 million consumers and the common use of coal and steel resources." ¶"The elimination of restrictive cartel practices and excessive concentration of economic power . . . The Schuman Plan can [substitute] for the barriers of the past,which have divided and impoverished us until the present, common rules accepted by all... for the common good...
This week's agreement would not have been possible without U.S. pressure. The last big obstacle had been raised by German industrialists who did not want to break up Germany's coal-steel cartels. The U.S. proposed a compromise. Its chief point: let the German mills keep ownership of enough coal mines to cover 75% of their needs. When the Germans balked, U.S. High Commissioner John McCloy threatened that if the Germans scuttled the Schuman Plan, he would impose even tougher anti-cartel measures. That...
...angry 56-page report, Senator Johnson pinpointed the main reason for the gouge: tin has been kept off the world market by an international cartel composed of Great Britain, Belgium, The Netherlands and Bolivia. Fearing overproduction (and low prices), the cartel held tin output to 165,000 tons last year, 49% less than in 1941. Inept buying by the Munitions Board, which tried to fill up the U.S. stockpile all at once, gave speculators their big chance. Stormed Johnson: "The tin price gouging by some of our oldest international friends is entirely devoid of morality." He urged the Government...