Word: cartelizing
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...which he attributed not to miracles but "a series of fortuitous events" including the Marshall Plan and the currency reform instituted by the Allied occupation. He praised policies of the German government which encouraged private investment and a free competetive market system by wise tax laws and an anti-cartel policy...
That was the end of Farben as such. But it was the beginning of an amazing recovery by the free-enterprising successors to the cartel, which has resulted in bigger sales than their prewar parent ever had. In the postwar German boom, Farben's vigorous successor companies have won back far more of their immense prewar business and prestige than the most optimistic German had hoped for. Sales of the three biggest companies last year topped $1.09 billion, just over Farben's prewar total; and they are rising at the rate of 12% a year (but are still...
...Erhard the heart of Marktwirtschaft is the principle of free competition, firmly defined in the U.S.'s Sherman Act and subsequent antitrust legislation. Since 1950, the roly-poly Economics Minister has been struggling to persuade West Germany's Bundestag to pass its own anti-cartel law. At times, Erhard's fight-which Germans jestingly called "the Seven Years' War"-seemed hopeless. No European nation had ever adopted a law comparable to the Sherman Act, and none appeared less likely to do so than Germany, fatherland of the classic cartel. (In the mid-1930s, experts estimated that...
...pressing for his law. Last week, while Bonn sweltered under heat so intense that firemen were obliged to water the Bundestag roof to prevent it from dripping tar, the 60-year-old Economics Minister finally won the day. The law he got-which provided for a number of permissible cartels including "crisis" cartels and retail-price-fixing rings-was less than he had hoped for. Nonetheless, said Erhard, "with all its deficiencies, this is still the most modern cartel bill in the world." If Erhard was guilty of hopeful exaggeration, the fact remains that West Germany alone among European nations...
...profits jumped 130% to $16.6 million, though 1955 earnings of 6% on sales were not as favorable as Allied Chemical's profit of 8%, Du Font's 22%. But Faina's goal is as American as apple pie, though it may seem as unlikely in cartel-minded, low-wage Italy as pie in the sky. Says President Faina: "I want every workingman to have 100 shares of Montecatini, a home of his own, a car. a refrigerator and television in his living room. It can be done, and we're going...