Quotes from George W. Stocking

If American chemical industries are oligopolistic, British, German, French, Italian, indeed European, chemical industries are monopolistic.

it is easier to induce national governments to discriminate against foreign producers than to defend the interests of domestic consumers

Under ordinary competitive conditions, any long and serious maladjustment between supply and demand cannot last.

The term cartel was virtually unknown to the American language a generation ago. Like most borrowed words, when first taken over it meant different things to different persons. Time was required to crystallize its meaning. In this country it now commonly refers to international marketing arrangements. In a companion study we have defined such a cartel as an arrangement among, or on behalf of, producers engaged in the same line of business designed to limit or eliminate competition among them.

either on a competitive or a cartel basis.

It is clear that both at home and abroad producers have been unwilling to trust their fortunes entirely to the unrestricted play of competition. Both in world and domestic markets businessmen have sought security by substituting collective controls for the free play of market forces.

What constitutes wise policy . . . will depend on whether the immediate objective of policy is the promotion of political ends, the protection of vested interests, or the satisfaction of consumer needs.

two well-recognized economic principles. First, the firmer the monopolistic controls in a given market, the higher the prices. Second, monopoly prices are discriminatory prices. "Charging all the traffic will bear" does not mean that all the traffic will bear the same charge! In fact, it will not.

the basic principle of capitalism: that the penalties (losses) no less than the rewards (profits) of risk taking shall go to those who embark on a productive venture.

The steel cartel is dead; but the cartel idea survives.

Aluminum is a metallic element—one of the principal constituents of the earth's crust. Only oxygen and silicon are more abundant. Aluminum does not occur naturally in its pure form, but only in a wide variety of compounds.

The record is plain: the cartel system retarded the development of a domestic synthetic rubber industry, and, in so doing, jeopardized national security.

Both the law and business have long recognized the propriety of quantity discounts. But since 1914 the Clayton Act has banned price discrimination "when the effect may be to substantially lessen competition or tend to create a monopoly." And since 1936 the Robinson-Patman Act has recognized such quantity discounts as legal only if they represent a saving in cost, and the law places the burden of proof on the seller.

In a dynamic democratic society it is indeed difficult to keep in harness the forces of competition.

Chemical products are used in virtually every branch of industry and agriculture and come to the consumer in almost every product he consumes; yet, because they are primarily industrial raw materials which have lost their identity, the average consumer is unaware of them. To him even their names are meaningless.

Today chemists can artificially make hundreds of thousands of organic compounds, most of which are not duplicated in nature.

International trade in chemical products is not free. . . . Joint control of the market became the general rule; free competition, the exception.