Review of Industrial Organization 21: 325–327, 2002. Book Review Global Price Fixing: Our Customers are the Enemy, John M. Connor. Boston: Kluwer Academic Publishers, 2001, 598 pages, $180. During the ﬁrst half of the last century international cartels abounded. They re- strained trade in oil, chemicals, aluminum, and many other products. They attrac- ted congressional hearings, prompted antitrust cases, and inspired the research of notable scholars like Corwin Edwards, George Stocking, and Myron Watkins. Except for OPEC, international cartels then seemed to disappear for about four decades. Only a small handful of the Justice Department’s price ﬁxing cases in- cluded foreign ﬁrms during 1955–1984, none at all during 1985–1994. Now we are in the midst of a rousing revival. Since 1994 more than 20 global cartels have been discovered in citric acid, vitamins, lysine, sodium gluconate, heavy-lift marine transport, graphite electrodes, sorbates, bromines, and other pro- ducts. Whereas before 1995 less than 1 percent of all defendants in DOJ criminal price ﬁxing cases were foreign, during 1997–1999 ﬁfty percent were foreign. Many billions of dollars of business have been afﬂicted worldwide. Beﬁtting the immense scope and impact of these recent developments, John Connor has written an immense and marvelous
Review of Industrial Organization – Springer Journals
Published: Oct 13, 2004
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