Cartelization, Antitrust and Globalization in the US and Europe

The uncovering of a great number of cartels in the industrialised world has left an unfortunate, yet significant, mark on global economic developments in recent years. Globalization has forced firms into more direct competition; the result has been global price-fixing. This situation has greatlychallenged antitrust authorities. Taking a broad yet detailed approach, this work sets a practical explanation of the history of cartels and antitrust law in a sound theoretical framework, as well as providing suggestions as to how potential reforms of antitrust laws could improve the situation going forward. The book includes a comprehensive analysis of the motivations behind and perceived necessity for organisations to enter into cartels, and the success or otherwise of legislatures’ attempts to both uncover and prevent such cartels from taking place. A total of 24 price-fixing conspiracies uncovered in the US and Europe are examined as part of the analysis to demonstrate the globalization of collusion.

1. The Development of Antitrust Policy in the US and the EU 2. Models of Cartel Behavior 3. The Historical Background – Early Cartels and the Phasing in of Antitrust Law 4. Globalization, Collusion and the Need for Antitrust Reform 5. The Modern Face of Collusion – Recent Cases in the US and EU 6. Potential Reforms of Antitrust Law as it is Applied to Cartels

Mark S. LeClair received his PhD in Economics from Rutgers University in 1987. He is currently a professor of economics at Fairfield University in Fairfield, Connecticut, USA.