ECONOMIC PEACE THROUGH PRIVATE AGREEMENTS.

The article proposes a system of private agreements that would ensure economic progress and world peace. A trend toward cartels, or industrial combinations based on national economies in the postwar era, could provide a balance to the power of labor movements, coordinate existing industrial capacity, and stop overproduction. Great Britain has the Cotton Spinning Industry Act of 1936, which allowed combinations to form in the textile industry. Topics include the Atlantic Charter and tariff systems, example of International Electric Lamp Cartel that operated under a patent system, the international wheat agreement in 1942 that dealt with the grain surplus, the Webb-Pomerene Act of 1918 in the United States, International Steel Rail Cartel of 1883, and international cartel courts.