Cartels and law reform – a conspiracy against the public
Adam Smith is often quoted for his comment on cartels: "People of the same trade seldom meet together, even for merriment and diversion, but the conversation ends in a conspiracy against the public, or in some contrivance to raise prices". Less well known is the sentence which followed: "It is impossible indeed to prevent such meetings, by any law which either could be executed, or would be consistent with liberty and justice."
In this article, first published on Halsbury’s Law Exchange, Jane Hickman looks at competition law reform and the Government’s crackdown on business crime
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