Word: cartelism
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Know Your Way. Businessmen, Meany continued, might well study the A.F.L.-C.I.O. system of sending representatives abroad to explain free-trade unionism "and the ever-better conditions of life and labor in the American economic system . . . Believe me, [Europe's] cartel-ridden economies have no idea of what free enterprise really is-let alone how it works in the U.S. .... Why could it not be made clear to some of the [foreign] businessmen how it is impossible to get sales volume without the working people and the middle classes having adequate purchasing power...
...fact that many of its big plants and best brains are in East Germany. In the beginning, it will concentrate on small planes and components, building many under license from U.S. and other foreign manufacturers. To help one another through the rough early years, German planemakers are forming four cartel-like groups, through which they will work together and divvy up orders...
...March-partly because France stubbornly concentrates on exporting such low-profit items as textiles and semifinished steels. Industry, hit by high wage costs and elaborate fringe benefits imposed by strong unions and by government fiat (to avoid strikes), has tried to recoup by price-fixing and cartel schemes rather than modernization and better production methods. Nevertheless, U.S. Ambassador Douglas Dillon (onetime board chairman of the Manhattan investment firm of Dillon, Read & Co.) last week surveyed the French comeback from World War II and concluded: "It is hard not to speak of miracles...
...agency of Foote, Cone & Belding conspired with the cartel to police American importers of watches and parts...
...suit actually revealed nothing new. U.S. watchmakers have long known that the only way to buy Switzerland's low-cost movements ($4 for 17 jewels v. $10.50 for the same U.S.-made movement) and parts is through the decades-old cartel. The Swiss not only control sales of their watches, they also control sales of their top-quality watchmaking machinery, thus restrict watch manufacturing all over the world. While such obstacles to competition are against antitrust laws in the U.S., they are not illegal in Switzerland...