Karvaš book "Influence of Cartels on Economic Prosperity" and its legacy for the present

Abstract

This paper briefly introduces Karvaš career in the interwar period in Czechoslovakia, discusses Karvaš book "Influence of Cartels on Economic Prosperity" from 1932. It is explained by contemporary understanding of the term "cartel" and is described herein pricing cartels and their interference in the market system.

Finally, are found parallels with today's economy.

Keywords

• cartels
• state regulation
• the economic cycle
• public interest