Word: cartelism
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Dates: during 1950-1959
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...becoming a cut-rate liquor store. The dangers inherent in making large quantities of intoxicating beverages available to the masses is quite as obvious as the inadvisability of serving firewater to Indians. Uncouth and boorish fellows are partially restrained by the high prices set by the international liquor cartel and the tax policy of the Federal government. Anything done to disturb this delicate balance would unleash nightmares of drunkeness and debauchery such as are seldom seen, even in Cambridge...
...answer is international agreements to control production and exports. Though the U.S. still considers "cartel" a dirty word, it has been forced to change its ideas about cartel-like marketing agreements simply because drops in raw material prices can easily undo all the good of U.S. foreign aid programs. The U.S. is a member of the International Sugar Council, which has tried to stabilize sugar prices since 1954 by setting up export quotas for 25 nations. It has reluctantly led the way in trying to set up an international stabilization plan for coffee to save the world market from...
...stabilization plan for sugar has worked reasonably well. But restrictions on metals present greater problems, largely because of wide variances in production costs. Canada is reluctant to enter a lead and zinc cartel because her mining economy is booming, would prefer a free market in which high-cost producers, such as in the U.S., would be eliminated. Says W. S. Kirkpatrick, executive vice president of Canada's Consolidated Mining & Smelting: "The only real cure is to reduce output by closing down the high-cost producing mines. The natural economic law of supply and demand should be allowed to work...
HAMILTON WATCHES will be assembled in Switzerland to take advantage of lower Swiss wages (one-third the level of U.S. wages). Swiss watch cartel voted to admit Hamilton, first firm to come in since cartel was started in 1934 (other U.S. watchmakers, e.g., Bulova, Benrus, began producing earlier in Switzerland...
...Latin American countries are characterized by ultra-nationalism and large differences in the living standards of rich and poor, McGann said. He noted that economic problems have been accentuated by our tariff policy, and the inability of South American coffee growers to form a working world-wide cartel...