Historical Developments of Cartel Regulation

Posted by Social Science Research Network

Historical Developments of Cartel Regulation

Pál Szilágyi (Péter Pázmány Catholic University) & András Tóth (Károli University)

Abstract:        The regulation of cartels is not a new phenomenon, but has been part of doing business since the antiquity. The Sherman Act was a turning point in legislation regarding cartels. Although many decades had to pass until the current attitude towards cartels crystalized, the first half of the 20th century made many states realize what harm international cartels can do to the economy. Consequently, this paper gives an overview of the history of cartel regulation worldwide until 1931, the adoption of the first Hungarian legislation on cartels.