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| Author: | House, J. |
| Title: | Cartels: It's a conspiracy |
| Journal: | Accountancy
2002 : MAY, VOL. 129:1305, p. 42-43 |
| Index terms: | CARTELS UNITED KINGDOM ANALYTICAL REVIEW |
| Language: | eng |
| Abstract: | The author of the article states that it is emerging that a number of British companies have been in cartels designed to limit competition. But changes in the law mean that they are being caught - and playing a heavy price. According to Office of Fair Trading (OFT), businesses that set up cartels are taking part in one of the most economically damaging forms of anti-competitive behaviour possible. It estimates that cartels can add as much as 10% to prices of both industrial and consumer goods, as well as costing 1% of GDP. Industry groups agree, pointing out that cartels significantly damage British business and harm consumers. |
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