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Grand Allies
The Grand Allies, or Grand Alliance, was a cartel of English coal-owning families formed in 1726. It was based on the Northumberland and Durham Coalfield, and played a major role in the economics of mining coal from the field for about a century. Over time, other families joined the original main three. Early period Up to around 1700 a guild, the Hostmen of Newcastle upon Tyne, had an effective monopoly of the coal trade locally. After a decline in the control of the Hostmen, "combinations" of coal owners vied for advantage. The original focus of the Grand Allies group was the construction of the Tanfield Waggonway, to transport coal from inland mines in County Durham to the River Tyne. It ran from Tanfield, County Durham, Tanfield to Dunston, Tyne and Wear, Dunston, a distance of about . The founders were George Liddell (MP), George Liddell, Sidney Wortley Montagu shortly succeeded by his son Edward Wortley Montagu (diplomat), Edward Wortley Montagu, and George Bowes (MP for Count ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cartel
A cartel is a group of independent market participants who collude with each other in order to improve their profits and dominate the market. Cartels are usually associations in the same sphere of business, and thus an alliance of rivals. Most jurisdictions consider it anti-competitive behavior and have outlawed such practices. Cartel behavior includes price fixing, bid rigging, and reductions in output. The doctrine in economics that analyzes cartels is cartel theory. Cartels are distinguished from other forms of collusion or anti-competitive organization such as corporate mergers. Etymology The word ''cartel'' comes from the Italian word '' cartello'', which means a "leaf of paper" or "placard", and is itself derived from the Latin ''charta'' meaning "card". The Italian word became ''cartel'' in Middle French, which was borrowed into English. In English, the word was originally used for a written agreement between warring nations to regulate the treatment and exchange of p ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
