Great in the U. S. is the urge to merge. In Europe, the cartel is the current charm against business ills. Members of a cartel agree to such things as fixed production quotas, a single retail price scale, exchange of patent rights, standardization of parts, etc. A cartel often amounts to a monopoly of an industry and sometimes extends across international boundary lines.
Last week, the Association of Watch Manufacturers met at Baden-Baden, Germany, and agreed to production quotas for a more stringent cartelization.
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