Word: cartels
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Dates: during 1940-1949
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...charge: that G.E. and its subsidiary, International General Electric Co., Inc., have conspired for many years to restrain trade through cartel agreements with six foreign firms. Allegedly violated were the Sherman Antitrust Act and the Wilson Tariff Act, which applies many Sherman Act provisions to foreign trade...
...Cartel. Britain's tall, lean-jawed Lord Swinton had steadfastly plumped for the all-powerful authority to fix plane rates, routes, and passenger and cargo quotas-in effect, he wanted to cartelize postwar air transport. Otherwise, Britain feared that the sky-filling transport fleet of the U.S. would monopolize global flying. Stubbornly, Adolph A. Berle Jr., nimble-witted chairman of the U.S. delegation, demanded the freest of competition, argued that cartelization would hamstring postwar progress in aviation...
...wheat subsidy plan, since the four major wheat-producing nations (U.S., Canada, Australia, Argentina) have divvied up the world market on a quota basis for the next year and will not be competing. But some economists believe this is also bad, since it amounts to an international Government cartel...
...argument was premised on two facts: 1) the U.S. cannot break cartels by trying to force the Sherman Anti-Trust Act on the rest of the world; and 2) foreign businesses engaged in cartels are strongly supported by their Governments. Perkins believes that much of the U.S. righteous indignation about cartel agreements is phony; that this country not only basically wants cartels, but sooner or later "the pressure of circumstances will tend to make us accept cartels because other nations accept them...
...fight for a freer economy should go on with less vigor. But if the fight is to get anywhere, Americans must operate realistically, and "not in the fairyland of our own oratory." As a realistic start, Perkins suggested that the U.S.: 1) pass a law requiring registration of all cartel arrangements; 2) set up a Board of International Trade to review and pass on the validity of the registrations; 3) allow the board to pass on all international commodity agreements. He concluded that thus, "where we cannot eliminate the cartels, we must gradually perfect new ways to make them into...